21 Palmer St, Salem MA 01970
Salem, MA 01970
$1,999,000
Est. $11,889/month
Estimate assumptions
20% down, a 30-year loan at 6.5%, and $200/month estimated insurance.
Includes the supplied property-tax and HOA inputs; missing inputs contribute $0. HOA fees with an unspecified frequency are treated as monthly. PMI and closing costs are excluded.
Adjust the payment calculatorTrack this home for price, status, and open-house alerts.
About this home
NEW PRICE!!! 9.81% CAP RATE | $250K+ GROSS INCOME | $196K+ NOI | 6 UNITS / 20 BEDROOMS! Exceptional opportunity to acquire a strong cash-flowing 6-unit multifamily in desirable Salem. Featuring an attractive unit mix of two spacious 4-bedroom units and four 3-bedroom units, the property generates approximately $250K in gross annual income with an estimated $196K NOI. Additional income from on-site laundry and storage, with further upside through future rent optimization and operational efficiencies. Convenient access to Boston via MBTA Commuter Rail and close to Salem’s vibrant downtown, waterfront, restaurants, shopping, and entertainment. Newly repositioned at $1.999M, offering a compelling 9.81% cap rate, strong in-place income, immediate cash flow, and long-term upside potential.
View in the App
Save this property, schedule tours instantly, and get alerts when the price drops
Scan with phone
Public Records & Permits
Log in to view assessor & tax records, ownership history, and recent building permits for this property.
BMN Estimate
Get the number an algorithm can't give you
A free agent CMA factors in condition, upgrades, and the street — the things comps alone can't see.
Recently Sold Nearby
Property History
Property Timeline
Listed for Sale
Sep 10, 2026
$1,999,000
Original listing
Agent: Elsa Liu
Office: Realty ONE Group Cosmopolitan
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 09/10/2026 | 🏠 Listed for Sale | $1,999,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2026 | $18,974 | $1,412,600 |
Financial Details
Annual Property Tax
$18,974
Tax Year 2026
Assessed Value
$1,412,600
Facts & Features
Home Facts
Type
Residential Income
Style
5-9 Family
Year Built
1915
Living Area
7,044 sq ft
Lot Size
0.16 acres
Stories
3
Bedrooms
20
Full Baths
6
Total Rooms
28
Investment Metrics
Units
6
Unit 1 Rent
$4,000/mo · Y
Unit 2 Rent
$3,800/mo · Y
Unit 3 Rent
$3,164/mo · Y
Unit 4 Rent
$3,270/mo · Y
Total Monthly Rent
$14,234/mo
Gross Income
$250,476
Net Operating Income
$208,691
Operating Expenses
$41,785
Water/Sewer Expense
$5,139
Insurance Expense
$5,600
Cap Rate
10.44%
Interior
Heating
None
Cooling
None
Flooring
None
Appliances
None
Fireplace
None
Basement
Unfinished
Laundry
None
Features
None
Exterior
Construction
Frame
Architecture
None
Roof
Shingle
Features
None
Pool
None
Spa
None
Fencing
None
Patio/Porch
Porch, Covered
Parking
Features
Deeded
Total Spaces
6
Utilities
Electric
None
Water
Public
Sewer
Public Sewer
Gas
None
Other
None
Financial
Annual Tax
$18,974
Assessed Value
$1,412,600
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Lead Paint
Unknown
Seller Disclosures
Measurements Are Approximate. Buyer/buyers Agent To Perform Due Diligence And Verify All Listing Information. Detailed Financials And Property Information Are Available Upon Request. Please Email Listing Agent To Obtain The Om.
Exclusions
Personal Properties
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Sq Ft Source
Public Record
Documents
None
County
Essex
Property Overview
Property Type
5-9 Family
Listing Type
For Sale
Year Built
1915
Bedrooms
20
Full Bathrooms
6
Living Area
7,044 sq ft
Total Rooms
28
Stories
3
Levels
3
Floor Layout
Interactive room guide
Floor Layout
Finished Area
7,044 sq ft above grade
Display Options
Outdoor Areas
Patio & porchPorch, Covered
Room Markers
OOffice (1)
KKitchen (1)
BRBedroom (5)
BABathroom (4)
DDining (1)
LLiving (2)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Unfinished
Laundry:
Security:
Construction & Materials
Year Built:
1915
Structure Type:
Exterior Materials:
Frame
Roof:
Shingle
Foundation:
Concrete Perimeter
Stories:
3
Heating, Cooling & Utilities
Heating:
Cooling:
Hot Water:
Natural Gas
Water Source:
Public
Sewer:
Public Sewer
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Porch, Covered
Fencing:
Other Structures:
Lot Features:
Corner Lot
Road Surface:
Parking & Garage
Total Parking Spaces:
6
Parking Features:
Deeded
Nearby Schools
School information not available for this location.
Monthly Payment Calculator
Monthly Payment
$0
Principal, interest, taxes & insurance
Loan Amount
$0
After down payment
Total Interest
$0
Over life of loan
Total Cost
$0
Including down payment
%
Down: $0
%
Monthly Payment Breakdown
Principal & Interest
$0
Property Tax
$1,581
Homeowners Insurance
$200
PMI (if <20% down)
$0
Loan Summary
Total of 360 payments
$0
Total principal paid
$0
Total interest paid
$0
Rate Impact
-0.5% Rate
$0/mo
Save $0/mo
Current Rate
$0/mo
+0.5% Rate
$0/mo
Cost $0/mo
Payment Over Time
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.
Location
Loading map...
Neighborhood
21 Palmer St, Salem MA 01970
Salem, MA 01970
Listing Information
Listing Agent
Elsa Liu
Listing Office
Realty ONE Group Cosmopolitan
Office Phone
781-219-3200
Agent MLS ID
CN252197
Office MLS ID
AN6811
Listing Data Updated
Sep 10, 2026 7:59 PM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
Contact Us
Ask about this property — free, no obligation.
Similar Homes for Sale
Comparable Properties
Customize Comparable Search
Finding comparable properties...
Loading market insights for Salem.