5 Walter St. Salem — Photo 1 of 35
$645,000
Investment Analysis — 5 Walter St.
Salem, MA 01970
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 01970 carries an estimated $3,390/mo in gross rent — about a 3.74% cap rate and $24,120/yr in estimated NOI at the $645,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
1.5
SqFt
1,495
Style
Single Family
Built
1915
Welcome home to this beautifully maintained Salem Colonial, offering 4+ bedrooms and 1.5 baths. The spacious kitchen features a brand-new stove and dishwasher, while the inviting dining room showcases custom built-ins. Beautiful hardwood floors add warmth and character throughout. Outside, enjoy a fully fenced backyard, perfect for relaxing or entertaining. Recently installed solar panels help keep energy costs in check, adding efficiency and value to this charming home. Recent updates include new gas furnace (2026) and new hot water (2025). Easy to show!
ADU Potential
Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 748 sq ft (the lesser of 900 sq ft or half the 1,495 sq ft principal dwelling). Lot size: 2,718 sq ft.
Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
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Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Electric Water Heater • Range • Dishwasher • Refrigerator
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstCeiling Fan(s), Flooring - Hardwood, Lighting - Sconce
Dining Room
Lvl FirstCloset/Cabinets - Custom Built, Flooring - Hardwood, Lighting - Pendant
Kitchen
Lvl FirstCeiling Fan(s), Flooring - Vinyl, Exterior Access, Recessed Lighting
Office
Lvl SecondFlooring - Hardwood
Primary Bedroom
Lvl SecondCeiling Fan(s), Closet, Flooring - Hardwood, Lighting - Sconce
Bedroom 2
Lvl SecondBedroom 3
Lvl ThirdCeiling Fan(s), Closet, Flooring - Hardwood
Bedroom 4
Lvl ThirdBathroom 1
Lvl SecondBathroom - Full, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile
Bathroom 2
Lvl ThirdBathroom - Half, Flooring - Stone/Ceramic Tile
Listing Agent: Jenny May
Listing Office: J. Barrett & Company
MLS® Number: 73578618
