15 1/2 Palmer St, Salem, MA, 01970
About This Home
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.
Getting Around
Walker's Paradise
Some Transit
Very BikeableSchools
Construction
Condition
- Year built: 1915
Materials
- Foundation: Concrete Perimeter
- Roof: Shingle
- Construction materials: Frame
Type & Style
- Home type: MultiFamily
- Property subType: 3 Family
Interior
Appliances
- Appliances included: Range,Refrigerator
Bedrooms & Bathrooms
- Bedrooms: 6
- Bathrooms: 3
- Full bathrooms: 3
Features
- Finished area above ground: 3,968
Heating
- Heating features: Natural Gas
Interior Area
- Total structure area: 3,968
- Total interior livable area: 3,968 sqft
Property
Details
- Zoning: R3
Features
- Patio & porch: Enclosed
- Fencing: Fenced
Lot
- Lot size: 4,021 sqft
- Features: Other
Parking
- Total spaces: 4
- Parking features: Off Street
- Uncovered spaces: 4
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Coastal Flooding
- Ice Storm
- Lightning
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across Massachusetts Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $4,748 | $56,976 |
| Home Insurance * | $283 | $3,396 |
| Property Taxes | $798 | $9,576 |
| Electricity | $782 | $9,389 |
| Total | $6,611 | $79,332 |
Income You'd Need if You Spent...
Massachusetts FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-04 | Price change | $899,000 |
| 2026-07-29 | Listed for sale | $939,000 |
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