86-88 Summer St, Salem MA 01970

Salem, MA 01970
$675,000
Est. $4,383/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.

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5
Beds
3.5
Baths
2,432
Sq Ft
$278
Price/Sq Ft
0.23
Acres
2432
Year Built
6
Parking
New today
Time on Market
For Sale Listed Nov 4, 2026 • MLS# 73598820 Copied! • Updated Nov 4, 2026

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About this home

Calling all builders, contractors, and investors! Rare opportunity to own two detached single-family homes on one lot in the heart of downtown Salem! Located at 86-88 Summer Street, this unique property offers tremendous potential for renovation, investment, or future resale. Each home features its own private entrance and independent living space with no shared walls.86 Summer Street consists of approximately 830 square feet with 2 bedrooms and 1 full bathroom, while 88 Summer Street offers approximately 1,602 square feet with 3 bedrooms and 2.5 bathrooms. The property also features 6 off-street parking spaces, an exceptional amenity in downtown Salem.Both homes are in need of significant improvements and present an excellent opportunity for investors or contractors looking to unlock their full potential. Whether renovating for rental income, resale, or owner occupancy with supplemental rental income, the possibilities are compelling. Conveniently located just moments from Salem's vibrant downtown, restaurants, shops, waterfront, and commuter rail service to Boston.Property will not qualify for conventional financing. Cash buyers or buyers utilizing alternative financing are encouraged. Bring your vision and capitalize on this unique investment opportunity in one of the North Shore's most desirable locations!

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Recently Sold Nearby

Price & Status History

Property Timeline

🏠
Listed for Sale
Nov 4, 2026
$675,000
Original listing
Agent: Herrick Lutts Realty Partners Office: Herrick Lutts Realty Partners

Tax History

Year Taxes Assessment
2026 $9,242 $857,300

Financial Details

Annual Property Tax
$9,242
Tax Year 2026
Assessed Value
$857,300

Facts & Features

New Construction

Home Facts

Type Residential Income
Style Multi Family
Year Built 2432
Living Area 2,432 sq ft
Lot Size 0.23 acres
Stories 4
Bedrooms 5
Full Baths 3
Half Baths 1
Total Rooms 10

Investment Metrics

Units 2
Unit 1 Rent — · N
Unit 2 Rent — · N
Heating None
Cooling None
Flooring None
Appliances None
Fireplace None
Basement Full, Unfinished
Laundry None
Features None
Construction Frame
Architecture None
Roof Shingle
Features None
Pool None
Spa None
Fencing None
Patio/Porch None
Features Shared Driveway, Off Street
Total Spaces 6
Electric None
Water Public
Sewer Public Sewer
Gas None
Other None

Financial

Annual Tax $9,242
Assessed Value $857,300
Fee Includes None
Amenities None
Optional Fee Includes None
Lead Paint Unknown
Seller Disclosures Property Will Not Qualify For Traditional Financing.
Possession None
Accepted Financing None
Structure Type []
Sq Ft Source Public Record
Sq Ft Disclosures Approx. Sqft
Documents None
County Essex

Property Overview

Property Type
Multi Family
Listing Type
For Sale
Year Built
2432
Bedrooms
5
Full Bathrooms
3
Half Bathrooms
1
Living Area
2,432 sq ft
Total Rooms
10
Stories
4
Levels
4

Floor Layout

Interior Features

Flooring:
Appliances:
Interior Features:
Windows:
Basement: Full, Unfinished
Laundry:
Security:

Construction & Materials

Year Built: 2432
Structure Type:
Exterior Materials: Frame
Roof: Shingle
Foundation: Stone
Stories: 4

Utilities & Systems

Heating:
Cooling:
Hot Water:
Water Source: Public
Sewer: Public Sewer
Energy Features:

Exterior & Lot

Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:

Parking & Garage

Total Parking Spaces: 6
Parking Features: Shared Driveway, Off Street

Nearby Schools

School information not available for this location.

Monthly Payment Calculator

Monthly Payment
$0
Principal, interest, taxes & insurance
Loan Amount
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After down payment
Total Interest
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Over life of loan
Total Cost
$0
Including down payment
%
Down: $0
%

Monthly Payment Breakdown

Principal & Interest $0
Property Tax $770
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

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$0/mo
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Current Rate
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+0.5% Rate
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Payment Over Time

Interest
Principal
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

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Neighborhood

86-88 Summer St, Salem MA 01970

Salem, MA 01970

Listing Information

Listing Agent Herrick Lutts Realty Partners
Listing Office Herrick Lutts Realty Partners
Office Phone 978-927-1959
Agent MLS ID TM312527
Office MLS ID AN6507
Listing Data Updated Nov 4, 2026 2:43 PM EST
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

Contact Us

Steve Novak Real Estate
Steve Novak Real Estate
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