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233 Lafayette, Salem MA 01970

Salem, MA 01970
$7,995,000
Est. $44,905/month
32
Beds
26
Baths
17,755
Sq Ft
$450
Price/Sq Ft
0.24
Acres
1915
Year Built
5+ Family - 5+ Units Up/Down
Type
6 hours 35 minutes
Time on Market
Active Listed Apr 1, 2026 • MLS# 73494351 Copied!

About this home

Rare opportunity to acquire a fully renovated 26-unit brick asset in one of Salem’s most active rental markets. The Property consists of twelve (12) one-bedroom units, six (6) two-bedroom units and eight (8) studios. 233 Lafayette Street offers investors immediate scale, strong in-place income, and a true turnkey profile with major capital improvements already executed. The property has undergone an extensive renovation in 2020, including a new roof, fully upgraded electrical, new boilers and hot water storage and a new sprinkler system. Unit interiors have been upgraded across the board with updated kitchens and baths with 15 of the units featuring in-unit laundry. See attached OM for detailed financials.

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Property Overview

Property Type
5+ Family - 5+ Units Up/Down
Listing Type
For Sale
Year Built
1915
Bedrooms
32
Full Bathrooms
26
Living Area
17,755 sq ft
Total Rooms
62
Stories
3
Levels
3

Facts & Features

Home Facts

Type Residential Income
Style 5+ Family - 5+ Units Up/Down
Year Built 1915
Living Area 17,755 sq ft
Lot Size 0.24 acres
Bedrooms 32
Full Baths 26
Total Rooms 62

Interior

Heating None
Cooling None
Flooring Wood
Appliances None
Fireplace None
Basement Finished
Laundry None
Features None

Exterior

Construction Brick
Architecture None
Roof Rubber
Features None
Pool None
Spa None
Fencing None
Patio/Porch None

Parking

Features None

Utilities

Electric None
Water Public
Sewer Public Sewer
Gas None
Other None

Financial

Annual Tax $51,331
Assessed Value $4,256,500

Interior Features

Flooring: Wood
Appliances:
Interior Features:
Windows:
Basement: Finished
Laundry:
Security:

Construction & Materials

Year Built: 1915
Structure Type:
Exterior Materials: Brick
Roof: Rubber
Foundation: Concrete Perimeter
Stories: 3

Heating, Cooling & Utilities

Heating:
Cooling:
Hot Water: Natural Gas
Water Source: Public
Sewer: Public Sewer
Energy Features:

Exterior & Lot

Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features: Other
Road Surface:

Parking & Garage

Parking Features:

Location

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Neighborhood

233 Lafayette, Salem MA 01970

Salem, MA 01970

Walkability

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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
E

Elementary Schools

9 schools
The Greenhouse School
1.0 mi
Grades PK-08
The Phoenix School
1.1 mi
Grades PK-08
B-
Saltonstall School
0.1 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-
Horace Mann Laboratory School
1.0 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
C+
Bentley Academy Innovation School
1.3 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
1.3 mi
106 students Diverse
Diverse Student Body
Grades PK
B-
Carlton School
1.4 mi | #468 of 824 | Score: 45.6
Dropped 47 spots from last year
-12.6 below state avg
247 students Diverse
Grades K-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
B+
Bates School
1.8 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
M

Middle Schools

1 school
C+
Collins Middle School
0.7 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
H

High Schools

2 schools
B+
Salem Academy Charter School
0.4 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
1.0 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
Learn about these ratings
School data provided by BMN Schools

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 $4,278
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
Save $0/mo
Current Rate
$0/mo
+0.5% Rate
$0/mo
Cost $0/mo

Payment Over Time

Interest
Principal
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.

Property History

Property Timeline

🏠
Listed for Sale
Apr 1, 2026
$7,995,000
Original listing
Agent: Francesca Little Office: Little & Co., REALTORS®

Price & Status History

Date Event Price Change
Apr 1, 2026 New Listing Added $7,995,000 —

Market Statistics

Time on Market
6 hours 35 minutes
Price per Sq Ft
$450

Tax History

Year Taxes Assessment
2025 $51,331 $4,256,500

Financial Details

Annual Property Tax
$51,331
Tax Year 2025
Assessed Value
$4,256,500

Listing Information

Listing Agent Francesca Little
Listing Office Little & Co., REALTORS®
Agent MLS ID CN234756
Office MLS ID C67600
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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Market Analytics for Salem, MA

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