3 Family at 15 1/2 Palmer, Salem MA 01970, Salem
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28 photos

$899,000

15 1/2 Palmer, Salem MA 01970
Salem, MA 01970
Listed by Francesca Little
Bedrooms
6
Bathrooms
3
Living area
3,968 sqft
Year built
1915

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.

Property details

MLS #
73556225
Property type
3 Family
Subdivision
N/A
Status
Active
Days on market
72
On market date
July 28, 2026
Stories
3
Total bathrooms
3
Garage spaces
N/A
Parking spaces
4
Lot size
0.09 acres
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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).

Elementary
Saltonstall School
0.16 mi away · Grades 0-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
378
Student:teacher ratio
10.5:1
District
Salem
Middle
Collins Middle
0.7 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
633
Student:teacher ratio
11.1:1
District
Salem
HighCharter
Salem Academy Charter School
0.23 mi away · Grades 6-12
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
495
Student:teacher ratio
10.3:1
District
Salem Academy Charter (District)

Walkability

Blended score for Salem's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

89
Highly walkable
out of 100
EPA National Walkability Index
16.3 / 20 -- Most walkable
Google Places amenity density
100 / 100
Restaurants & cafes20
Grocery stores13
Parks20
Schools20
Transit stops20
Pharmacies5

Market position

How this listing compares to current activity in Salem, from live MLS data.

On the market 72 days -- 23 fewer days than Salem's current average of 95 days.
For reference, the median list price across 392 active listings in Salem right now is $407,500.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$5,564/mo
$179,800 down
$719,200 loan
Principal & interest$4,665
Property tax (est.)$749
Home insurance (est.)$150

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Data source: Listing information provided by MLS Property Information Network via Trestle/CoreLogic. Last updated August 8, 2026.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.