About this home
Fantastic opportunity to own a well-maintained, income producing three-family property in desirable Salem! The Property features spacious units and a versatile layout making it ideal for both owner-occupants and investors looking to generate rental income. The first floor offers four (4) bedrooms spanning two levels while the second floor offers three (3) large bedrooms and two (2) full bathrooms. The vacant third-floor unit features two (2) bedrooms, providing the perfect opportunity for an owner-occupant or an investor looking to secure an additional rental stream. The two occupied units currently generate $7,000 in gross monthly rental income including coin op laundry. Heat and hot water are included in the rents. Four off-street parking spaces add even more convenience and value. With generous living spaces, strong existing rental income, and a vacant unit ready for its next chapter, this is an excellent opportunity to invest in Salem's multifamily market.
Listing last checked: Listing updated:
Listed by Francesca Little · Little & Co., REALTORS® · MLS #73594996
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Details at a glance
Interior3 property facts
- Rooms
- 14
- Heating
- Natural Gas
- Basement
- Yes · Full, Finished
Building5 property facts
- Style
- 3 Family
- Year built
- 1890
- Parking
- 4
- Foundation
- Stone
- Roof
- Shingle
Land & utilities5 property facts
- Lot size
- 0.06 acres
- Water
- Public
- Sewer
- Public Sewer
- Pool
- Not reported
- Zoning
- R1
Financial2 property facts
- Annual taxes
- $7,797
- Assessment year
- 2025
Location
Estimated monthly cost
Explore costs at the $925,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$5,327 / monthAdjust
- Principal & interest
- $4,677
- Property tax
- $650
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $7,797. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.
Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.
The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.
More property insights
Automated value estimate $972,042
Estimated range $930,602–$1,013,482.
Automated estimates are not appraisals or guarantees of market value.
Request a professional market analysisPhoto-based condition insights
Overall presentation: average
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About 19 Nichols
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