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286 Washington, Salem MA 01970

Salem, MA 01970
$2,000,000
Est. $10,645/month
3
Baths
4,695
Sq Ft
$426
Price/Sq Ft
0.07
Acres
1900
Year Built
5+ Family - Rooming House
Type
96
Days on Market
Closed Listed Sep 29, 2025 • MLS# 73264544

About this home

Discover an exciting investment opportunity in the heart of historic Salem, MA with this twenty one (21) room rooming house. Perfectly situated in a prime location, this property offers a unique chance to own a meticulously maintained property that has been owned by the same family for over 40 years. Using 2023 numbers this is being offered at an 8% cap rate with projected rents for 2024 bringing to a 9.3% cap rate. A 5% vacancy has already been factored into the gross revenue.**THIS PROPERTY IS TO BE SOLD WITH 108-122 LAFAYETTE ST AS A PACKAGE MLS# 73264543**. Landlord is responsible for all utilities including heat/hw, electric and water/sewer. Seller is willing to explore a seller financing deal for the right buyer. Please see attached for detailed incomes and expenses. Rent roll changes weekly but can be provided upon request.

Sale Statistics

Sale Overview
Original List Price: $2,000,000
Final Sale Price: $2,000,000
Difference: +$0 (+0.0%)
Performance Metrics
100.0%
List to Sale Ratio
Sold at asking price
96
Days on Market
Extended listing
Price per Square Foot Analysis
Original $/sq ft: $426
Sale $/sq ft: $426
This property sold for $426 per square foot
Sale Summary

This property sold exactly at the asking price.

At 96 days on market, this property took longer than average to sell.

Facts & Features

Property Overview

Property Type
5+ Family - Rooming House
Property Category
Residential Income
Year Built
1900
Full Bathrooms
3
Living Area
4,695 sq ft
Total Rooms
21
Stories
3
Levels
3

Interior Features

Has Fireplace
No

Exterior & Structure

Roof
Rubber
Foundation
Stone
Has Spa
No
Waterfront Property
No

Lot & Land

Lot Size
0.07 acres
Lot Size
2,966 sq ft
Lot Size Area
0.0700
Lot Features
Other

Parking & Garage

Has Garage
No

Utilities & Systems

Water Source
Public
Sewer
Public Sewer

Community & HOA

Community Features
Public Transportation, Park, Laundromat
Senior Community
No

Financial & Tax Information

Annual Tax Amount
$11,188
Tax Year
2022
Tax Assessed Value
$987,200
Parcel Number
2135719
Zoning
R3
Financial Data Source
Owner

Additional Details

Year Built Source
Public Records
Year Built Details
Approximate
Disclosures
Buyers to do their own due diligence to verify all information provided.

Location

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Neighborhood

286 Washington, Salem MA 01970

Salem, MA 01970

Walkability

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Schools

School information not available

Monthly Payment Calculator

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Estimated Monthly Payment $0

Payment Breakdown

Principal & Interest $0
Property Tax $932
Homeowners Insurance $200
PMI $0

Property History

Market Insights

98
Total Days on Market

Property Timeline

✓
Sold
Dec 6, 2024
$2,000,000
Property sold
Days on Market: 98
🏠
Listed for Sale
Jul 15, 2024
$2,000,000
Original listing
Agent: Francesca Little Office: Little & Co., REALTORS®

Price & Status History

Date Event Price Change
Jul 15, 2024 New Listing Added $2,000,000 —

Market Statistics

Days on Market
96 days
Price per Sq Ft
$426

Tax History

Year Taxes Assessment
2022 $11,188 $987,200

Financial Details

Annual Property Tax
$11,188
Tax Year 2022
Assessed Value
$987,200

Listing Information

Listing Agent Francesca Little
Listing Office Little & Co., REALTORS®
Agent MLS ID CN234756
Office MLS ID C67600

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