Investment Analysis — 15 Kelley Rd

Salem, MA 01970

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01970 carries an estimated $3,080/mo in gross rent — about a 5.30% cap rate and $21,993/yr in estimated NOI at the $415,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

1,976

Style

Single Family

Built

1966

Contractors and investors, bring your plans to this ranch set at the end of a cul-de-sac near the Swampscott line. The home requires extensive renovation but offers a solid layout and room to work with. Enter into a spacious living room featuring an oversized front window and large stone fireplace. The main level also includes an eat-in kitchen, two bedrooms, a full bath and access to the one-car garage. Downstairs, the expansive finished basement provides a large open living area and an additional room offering potential for use as a third bedroom. A substantial unfinished section provides room for storage, utilities or future improvements, while a walkout leads to the backyard. Convenient South Salem location close to Salem State University, Vinnin Square shopping and dining, area beaches, downtown Salem and commuter rail service. Property is being sold as is. Buyer and buyer's agent to perform all due diligence.

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: 900 sq ft (the lesser of 900 sq ft or half the 1,976 sq ft principal dwelling). Lot size: 17,842 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.

No longer available to tour