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Adam Dow

| The Dow Group | #1 Real Estate Team in New Hampshire

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21 Palmer St , Salem, MA 01970
$1,999,000
Est. Payment: $4,442.22/mo
20 Bed
6 Bath
7044 Sqft
Status: Active | Days on site: 5
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AN6811 - CN252197
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from , its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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House Description

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.
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Highlights

Listed by Elsa Liu , 508-276-6723 Realty ONE Group Cosmopolitan , 781-219-3200.

Property Type

Multi-Family
Lot/Acreage
0.16

Year Built

1915

County

Essex

Listing ID

73575709

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:20
  • ▪ Bathrooms:6
  • ▪ Full Bathrooms:6
Water:Public

Exterior Features

Lot:Corner Lot
Garage Capacity:6
Zoning:R3
Roof:Shingle
Sewer:Public Sewer
Parking Features:Deeded,Parking Spaces: 6
Principal Interest
$4,442
Taxes
$1,581

Home Price

$1,999,000

Loan Details

30 yrs
%

Down Payment

20%
$399,800
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$4,442.22

Principal

Taxes

Principal Taxes HOA Total
Monthly $4,442.22 $1,581.17 $0.00 $6,023.39
Yearly $53,306.67 $18,974.00 $0.00 $72,280.67
Total $1,599,200.00 $569,220.00 $0.00 $2,168,420.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Salem, MA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.