For sale

$939,000

15 1/2 Palmer St, Salem, MA 01970

6beds

3,968sqft

$6,072/mo

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3 Family

Built in 1915

-- sqft lot

$-- Zestimate^®

$237/sqft

$-- HOA

What's special

Located on a quiet side street just moments from downtown Salem, this deleaded three-family property presents an outstanding investment opportunity with a proven rental history. The Property features three (3) spacious two-bedroom units, making it an attractive option for both investors and owner-occupants seeking stable income. Well maintained throughout, the property includes modern high efficiency Navien heating systems, a convenient coin-operated laundry area, covered rear porches, a fenced in backyard for shared outdoor space and parking for all three units. The Property is currently occupied by long-term tenants, providing immediate and consistent rental income. The owner pays for heat and hot water, tenants are responsible for electric.

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Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 6
Bathrooms: 3
Full bathrooms: 3

Heating

Natural Gas

Appliances

Included: Range, Refrigerator

Features

Has basement: No
Has fireplace: No

Interior area

Total structure area: 3,968
Total interior livable area: 3,968 sqft
Finished area above ground: 3,968

Property

Parking

Total spaces: 4
Parking features: Off Street
Uncovered spaces: 4

Features

Patio & porch: Enclosed
Fencing: Fenced

Lot

Size: 4,021 Square Feet
Features: Other

Details

Zoning: R3

Construction

Type & style

Home type: MultiFamily
Property subtype: 3 Family

Materials

Frame
Foundation: Concrete Perimeter
Roof: Shingle

Condition

Year built: 1915

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Features: Public Transportation, Park, Medical Facility, Laundromat, House of Worship, Public School, T-Station, University

Location

Region: Salem

Financial & listing details

Price per square foot: $237/sqft
Tax assessed value: $747,100
Annual tax amount: $8,054
Date on market: 7/28/2026
Total actual rent: 6528

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
7/29/2026	Listed for sale	$939,000$237/sqft
Source: MLS PIN #73556225 Report a problem

Public tax history

Tax history is unavailable.

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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