21 Palmer St Salem — Photo 1 of 23
$1,999,000
21 Palmer St, Salem, MA 01970
Salem, MA 01970
Beds
20
Baths
6
SqFt
7,044
Style
5-9 Family
Built
1915
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.
Key facts
It was listed on September 10, 2026. The annual property taxes are $18,974 (2026 tax year). It sits on a 0.16-acre (7,052 sq ft) lot.
Market Value Analysis
* Analysis is based on 21 actively listed and recently sold comparable properties strictly within Salem, MA.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Geography
Questions about this home
When was 21 Palmer St, Salem listed?
21 Palmer St, Salem was listed on September 10, 2026.
Has the price of 21 Palmer St, Salem changed?
The price hasn't changed since it was listed at $1,999,000.
What are the property taxes for 21 Palmer St, Salem?
The annual property taxes for 21 Palmer St, Salem are $18,974 (2026 tax year).
How big is the lot at 21 Palmer St, Salem?
21 Palmer St, Salem sits on a 0.16-acre (7,052 sq ft) lot.
What is the status of 21 Palmer St, Salem?
21 Palmer St, Salem is actively listed for sale.
Population
44,738
U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)
Median Household Income
$85K
U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)
Renter-Occupied Homes
50.4%
U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)
New Construction Permits — Essex County
1,060 housing units permitted in the last 12 months (-11% vs the prior 12 months) — 603 in 5+ unit buildings
U.S. Census Bureau, Building Permits Survey (through Jul '26)
Listing Agent: Elsa Liu
Listing Office: Realty ONE Group Cosmopolitan
MLS® Number: 73575709
