17-23 Palmer StSalemMA01970
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestment property for sale in Salem at 17-23 Palmer St, Salem, MA, 01970 projects strong ROI of 3.06%. Rental yield 2.03%. With 5% annual appreciation, the property builds $663,048 in value over five years. Equity growth combined delivers a projected five-year ROI of 29.37%, translating into $199,116 in total cumulative return on $677,972 invested capital. You can finance this property with Ziffy Mortgage’s DSCR loan, which leverages the property’s income for qualification rather than your personal income.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2% | 5.2% |
| Monthly Cash Flow | $(11,067) | $250 |
City averages based on Salem market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,060 |
| Total Monthly Debt Service | $14,171 |
| DSCR Ratio | 0.29x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Multi Family
Built in 1915
7,052 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01970, Salem, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,846 (100%) |
| Owner Occupied HU | 10,263 (49.2%) |
| Renter Occupied HU | 9,561 (45.9%) |
| Vacant Housing Units | 1,022 ( 4.9%) |
| Median Home Value | $626,422 |
| Average Home Value | $665,116 |
Housing Distribution
Address Breakdown
Residential
18,571
Single Family
12,690
Multi-Family
5,881
Businesses
1,702
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Multi Family
Built in 1915
7,052 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01970, Salem, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,846 (100%) |
| Owner Occupied HU | 10,263 (49.2%) |
| Renter Occupied HU | 9,561 (45.9%) |
| Vacant Housing Units | 1,022 ( 4.9%) |
| Median Home Value | $626,422 |
| Average Home Value | $665,116 |
Housing Distribution
Address Breakdown
Residential
18,571
Single Family
12,690
Multi-Family
5,881
Businesses
1,702
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: MLS PIN
Mls ID: #73484686