233 Lafayette, Salem MA 01970
Salem, MA 01970
$7,699,000
Est. $43,408/month
Estimate assumptions
20% down, a 30-year loan at 6.5%, and $200/month estimated insurance.
Includes the supplied property-tax and HOA inputs; missing inputs contribute $0. HOA fees with an unspecified frequency are treated as monthly. PMI and closing costs are excluded.
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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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Recently Sold Nearby
Property History
Market Insights
44.5%
Price Range
1
Previous Sales
Property Timeline
Listed for Sale
Sep 14, 2026
$7,699,000
Original listing
Agent: Francesca Little
Office: Little & Co., REALTORS®
Previous Transaction - MLS #72573891
Full transaction history available when tracking began
Previously Sold
Jan 13, 2020
$4,275,000
MLS #72573891
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 09/14/2026 | 🏠 Listed for Sale | $7,699,000 | - | - | Original listing |
| 01/13/2020 | 🏷️ Previously Sold | $4,275,000 | - | - | MLS #72573891 |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2026 | $51,331 | $4,256,500 |
Financial Details
Annual Property Tax
$51,331
Tax Year 2026
Assessed Value
$4,256,500
Facts & Features
Home Facts
Type
Residential Income
Style
5+ Family - 5+ Units Up/Down
Year Built
1915
Living Area
17,744 sq ft
Lot Size
0.24 acres
Stories
3
Bedrooms
32
Full Baths
26
Total Rooms
62
Investment Metrics
Units
26
Unit 1 Rent
$2,595/mo · Y
Unit 2 Rent
$2,500/mo · Y
Total Monthly Rent
$5,095/mo
Gross Income
$695,220
Net Operating Income
$481,143
Operating Expenses
$180,574
Cap Rate
6.25%
Interior
Heating
None
Cooling
None
Flooring
Wood
Appliances
None
Fireplace
None
Basement
None
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
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 All Income And Expenses. Total Monthly Rent Is $57, 935. Max Allowed In Mls Is $32, 767. Some Photos Have Been Virtually Staged And Edited.
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Sq Ft Source
Public Record
Documents
None
County
Essex
Property Overview
Property Type
5+ Family - 5+ Units Up/Down
Listing Type
For Sale
Year Built
1915
Bedrooms
32
Full Bathrooms
26
Living Area
17,744 sq ft
Total Rooms
62
Stories
3
Levels
3
Floor Layout
Interactive room guide
Floor Layout
Finished Area
15,889 sq ft above grade
1,855 sq ft below grade
Display Options
Room Markers
OOffice (1)
KKitchen (1)
BRBedroom (5)
BABathroom (4)
DDining (1)
LLiving (2)
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:
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:
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
3 schools
C+
Saltonstall School
0.1 mi
|
#526 of 825
|
Score: 43.9
Improved 42 spots from last year
-14.3 below state avg
267 students
Diverse
Rising School
Diverse Student Body
Strong Attendance
Grades K-05
C
Horace Mann Laboratory School
1.0 mi
|
#653 of 825
|
Score: 38.1
Improved 68 spots from last year
-20.1 below state avg
320 students
Diverse
Rising School
Diverse Student Body
Grades PK-05
The Greenhouse School
1.0 mi
Grades PK-08
Middle Schools
3 schools
B-
Collins Middle School
0.7 mi
|
#203 of 352
|
Score: 40.3
Improved 76 spots from last year
-17.9 below state avg
753 students
Diverse
Rising School
Diverse Student Body
Grades 06-08
B+
Village School
1.4 mi
|
#266 of 825
|
Score: 51.8
Dropped 77 spots from last year
-6.4 below state avg
480 students
Less Diverse
Strong Attendance
Grades 04-06
A-
Marblehead Veterans Middle School
1.8 mi
|
#88 of 352
|
Score: 50.8
Dropped 35 spots from last year
-7.4 below state avg
347 students
Moderate
Grades 07-08
High Schools
3 schools
B+
Salem Academy Charter School
0.4 mi
|
#141 of 346
|
Score: 57.0
Improved 95 spots from last year
-1.2 below state avg
477 students
Diverse
10 sports
• 568 athletes
High Graduation Rate
Rising School
College Ready Curriculum
Grades 06-12
B+
Salem High School
1.1 mi
|
#124 of 346
|
Score: 58.3
Dropped 4 spots from last year
+0.1 above state avg
960 students
Diverse
18 sports
• 1,080 athletes
Early College Program
Career Tech Programs
College Ready Curriculum
Strong Athletics
Grades 09-12
A-
Marblehead High School
1.8 mi
|
#82 of 346
|
Score: 62.5
Dropped 39 spots from last year
+4.3 above state avg
807 students
Moderate
20 sports
• 2,426 athletes
Strong AP Program
High Graduation Rate
Career Tech Programs
College Ready Curriculum
Grades 09-12
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Monthly Payment Calculator
Monthly Payment
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Principal, interest, taxes & insurance
Loan Amount
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After down payment
Total Interest
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Over life of loan
Total Cost
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Including down payment
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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
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Total principal paid
$0
Total interest paid
$0
Rate Impact
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Current Rate
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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
233 Lafayette, 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
Sep 14, 2026 7:58 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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