1-7 Prince, Salem MA 01970
Salem, MA 01970
$1,275,000
Est. $7,324/month
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About this home
Turnkey 4-unit investment opportunity in Salem perfect for investor or owner occupant. The Property consists four (4) 2-bedroom units, along with 5 off-street parking spaces. Heat and hot water are included in rent. The property has been extensively updated, featuring renovated kitchens and baths with granite countertops and stainless steel appliances, updated electrical, a newer roof, and new insulation in attic and walls. Additional highlights include basement storage and a clean, well-maintained condition, making this an ideal opportunity for investors seeking a low-maintenance, stabilized asset with upside through future rent optimization. See attached for the OM with detailed financials.
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Recently Sold Nearby
Property History
Property Timeline
Listed for Sale
Aug 31, 2026
$1,275,000
Original listing
Agent: Francesca Little
Office: Little & Co., REALTORS®
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 08/31/2026 | 🏠 Listed for Sale | $1,275,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2025 | $8,120 | $1,432,100 |
Financial Details
Annual Property Tax
$8,120
Tax Year 2025
Assessed Value
$1,432,100
Facts & Features
Home Facts
Type
Residential Income
Style
4 Family
Year Built
1960
Living Area
3,328 sq ft
Lot Size
0.11 acres
Stories
4
Bedrooms
8
Full Baths
4
Total Rooms
16
Investment Metrics
Units
4
Unit 1 Rent
$2,350/mo · Y
Unit 2 Rent
$2,350/mo · Y
Unit 3 Rent
$2,000/mo · Y
Unit 4 Rent
$2,350/mo · Y
Total Monthly Rent
$9,050/mo
Gross Income
$108,600
Net Operating Income
$74,622
Operating Expenses
$29,568
Water/Sewer Expense
$3,864
Electric Expense
$504
Insurance Expense
$3,000
Cap Rate
5.85%
Interior
Heating
Oil
Cooling
None
Flooring
Wood
Appliances
None
Fireplace
None
Basement
Full, Concrete
Laundry
None
Features
None
Exterior
Construction
Frame
Architecture
None
Roof
Shingle
Features
None
Pool
None
Spa
None
Fencing
None
Patio/Porch
None
Parking
Features
Off Street
Total Spaces
5
Utilities
Electric
200+ Amp Service
Water
Public
Sewer
Public Sewer
Gas
None
Other
None
Financial
Annual Tax
$8,120
Assessed Value
$1,432,100
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Lead Paint
Unknown
Seller Disclosures
Buyers To Do Their Own Due Diligence To Verify Income And Expenses. Seller Operates It With 48-54 Harbor St. Expenses Are Assumed To Be Half Of Current Owners Total Expenses For Both Buildings.
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Sq Ft Source
Public Record
Documents
None
County
Essex
Property Overview
Property Type
4 Family
Listing Type
For Sale
Year Built
1960
Bedrooms
8
Full Bathrooms
4
Living Area
3,328 sq ft
Total Rooms
16
Stories
4
Levels
4
Floor Layout
Interactive room guide
Floor Layout
Finished Area
3,328 sq ft above grade
Display Options
Room Markers
BABathroom (4)
BRBedroom (5)
DDining (1)
KKitchen (1)
LLiving (2)
OOffice (1)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Wood
Appliances:
Interior Features:
Windows:
Basement:
Full, Concrete
Laundry:
Security:
Construction & Materials
Year Built:
1960
Structure Type:
Exterior Materials:
Frame
Roof:
Shingle
Foundation:
Concrete Perimeter
Stories:
4
Heating, Cooling & Utilities
Heating:
Oil
Cooling:
Hot Water:
Oil
Water Source:
Public
Sewer:
Public Sewer
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Other
Road Surface:
Parking & Garage
Total Parking Spaces:
5
Parking Features:
Off Street
Nearby Schools
School District
Salem School District local
B-
School Safety
2024-25
3.6%
Above Average
2.3%
Suspensions
0.8%
In-School
1.3%
Emergency
1.9% below state avg
Elementary Schools
9 schools
The Phoenix School
1.0 mi
Grades PK-08
The Greenhouse School
1.4 mi
Grades PK-08
B-
Saltonstall School
0.3 mi
|
#460 of 824
|
Score: 45.8
Improved 108 spots from last year
-12.4 below state avg
412 students
Diverse
Rising School
Grades K-05
C+
Bentley Academy Innovation School
1.0 mi
|
#568 of 824
|
Score: 42.3
Improved 143 spots from last year
-16 below state avg
286 students
Moderate
Rising School
Grades PK-05
Salem Early Childhood School
1.0 mi
106 students
Diverse
Diverse Student Body
Grades PK
B-
Carlton School
1.0 mi
|
#468 of 824
|
Score: 45.6
Dropped 47 spots from last year
-12.6 below state avg
247 students
Diverse
Grades K-05
C-
Horace Mann Laboratory School
1.2 mi
|
#671 of 824
|
Score: 37.4
Improved 50 spots from last year
-20.8 below state avg
293 students
Diverse
Rising School
Diverse Student Body
Grades PK-05
B+
Bates School
1.4 mi
|
#325 of 824
|
Score: 50.0
Improved 254 spots from last year
-8.2 below state avg
410 students
Diverse
Rising School
Diverse Student Body
Grades PK-05
B
Witchcraft Heights School
1.5 mi
|
#388 of 824
|
Score: 48.1
Improved 162 spots from last year
-10.1 below state avg
455 students
Diverse
Rising School
Diverse Student Body
Grades K-05
Middle Schools
1 school
C+
Collins Middle School
0.8 mi
|
#219 of 352
|
Score: 39.5
Improved 60 spots from last year
-18.7 below state avg
611 students
Diverse
Rising School
Diverse Student Body
Grades 06-08
High Schools
2 schools
B+
Salem Academy Charter School
0.2 mi
|
#139 of 346
|
Score: 56.7
Improved 97 spots from last year
-1.5 below state avg
480 students
Diverse
10 sports
• 568 athletes
High Graduation Rate
Rising School
College Ready Curriculum
Grades 06-12
B
Salem High School
1.3 mi
|
#144 of 346
|
Score: 56.1
Dropped 24 spots from last year
-2.1 below state avg
952 students
Diverse
18 sports
• 1,080 athletes
Early College Program
Career Tech Programs
College Ready Curriculum
Strong Athletics
Grades 09-12
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Monthly Payment Calculator
Monthly Payment
$0
Principal, interest, taxes & insurance
Loan Amount
$0
After down payment
Total Interest
$0
Over life of loan
Total Cost
$0
Including down payment
%
Down: $0
%
Monthly Payment Breakdown
Principal & Interest
$0
Property Tax
$677
Homeowners Insurance
$200
PMI (if <20% down)
$0
Loan Summary
Total of 360 payments
$0
Total principal paid
$0
Total interest paid
$0
Rate Impact
-0.5% Rate
$0/mo
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Current Rate
$0/mo
+0.5% Rate
$0/mo
Cost $0/mo
Payment Over Time
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.
Location
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Neighborhood
1-7 Prince, Salem MA 01970
Salem, MA 01970
Listing Information
Listing Agent
Francesca Little
Listing Office
Little & Co., REALTORS®
Office Phone
978-745-4447
Agent MLS ID
CN234756
Office MLS ID
C67600
Listing Data Updated
Aug 31, 2026 11:34 AM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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