About this home
In Salem’s coveted McIntire Historic District, this grand mid-18th-century residence offers a rare marriage of historic character and turnkey investment potential. Sensitively converted into five residences and renovated to the studs in 2022, the property retains remarkable period details, including a graceful three-story Federal staircase, wainscoting and glorious paneled walls. Generating approximately $160K annually, it is equally compelling as a pure investment or for an owner who wants to live beautifully while four additional units offset carrying costs. The sprawling first-floor residence feels more like a private home, with two ensuite bedrooms, gracious living and dining rooms, original interior shutters, and a serious cook’s kitchen with an 8-burner commercial range and abundant wood and quartz counters. The dining room opens private yard with an intricate bluestone patio, generous lawn and private parking. Four additional one-bedroom apartments above offer strong rental appeal. Each unit has separately metered gas and electric, its own HVAC and hot water, while the building is fully sprinklered and fire monitored. All this less than 30 seconds from fabled Chestnut Street and moments from downtown Salem’s restaurants, shops and commuter rail.
Listing last checked: Listing updated:
Listed by Michael Selbst · Gibson Sotheby's International Realty · MLS #73580463
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Details at a glance
Interior3 property facts
- Rooms
- 17
- Basement
- Yes · Full
- Fireplaces
- 5
Building5 property facts
- Style
- 5+ Family - 5+ Units Up/Down
- Year built
- 1775
- Parking
- 8
- Foundation
- Stone, Granite
- Roof
- Shingle
Land & utilities5 property facts
- Lot size
- 0.21 acres
- Water
- Public
- Sewer
- Public Sewer
- Pool
- Not reported
- Zoning
- B1
Financial2 property facts
- Annual taxes
- $17,669
- Assessment year
- 2026
Location
Estimated monthly cost
Explore costs at the $1,875,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$10,953 / monthAdjust
- Principal & interest
- $9,481
- Property tax
- $1,472
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $17,669. 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 $1,805,376
Estimated range $1,696,794–$1,913,957.
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 393 Essex St
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