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29 Leach St #3 Salem — Photo 1 of 25

29 Leach St #3 Salem — Photo 1 of 25

$585,000

Investment Analysis — 29 Leach St #3

Salem, MA 01970 — South Salem

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-bedroom in 01970 carries an estimated $2,560/mo in gross rent — about a 2.87% cap rate and $16,777/yr in estimated NOI at the $585,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

2

Baths

2

SqFt

1,600

Style

Condominium

Built

1917

Surprising space, wonderful character, and a touch of the unexpected in South Salem! Set on two levels and offering more than 1,500 square feet of living space, this distinctive 2-bedroom, 2-bath condominium with parking, has the scale and flexibility that can be hard to find in Salem. Step inside and discover warm wood floors, an inviting dining room and a colorful, personality-filled kitchen with abundant cabinetry, generous workspace and room to gather. The upper level is the showstopper. Settle into this wonderful spacious living room tucked beneath soaring angled ceilings and skylights that bring in beautiful natural light. There’s plenty of room here to create separate areas for relaxing, reading, working from home or entertaining, giving the space an almost loft-like feel. Both bedrooms offer comfortable proportions, while two full baths, including one with in-unit laundry, add everyday practicality. But the appeal continues outside. Enjoy morning coffee or an evening glass of wine on your private deck, where rooftops give way to a delightful glimpse of the water, or settle onto the covered porch surrounded by greenery just outside the kitchen. Architectural details and nooks give this home a personality all its own. With six rooms on two levels, this is an intriguing alternative for buyers who want the space of a single-family home with the advantages of condominium living. Located in South Salem, Unit 3 at 29 Leach Street offers room to spread out, spaces to retreat to, outdoor living, and a home that feels anything but cookie-cutter. Come for the space. Stay for the character and that unexpected water view.

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.

Open Houses

Property Details

Financials

Original Price$585,000
Annual Taxes$3,270
HOA Fee$275

Parking

Garage0
Off-Street1

Interior Specifications

Total Rooms6
FireplacesNone
FlooringWood, Flooring - Wall to Wall Carpet
BasementY

Climate & Utilities

HeatingForced Air, Oil
CoolingCentral Air
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
Foundation--
ZoningR2

Property & Lot

Acres0.14
SqFt Lot6,024
Lot Features--

Amenities & Appliances

Range • Dishwasher • Disposal • Microwave • Refrigerator • Washer • Dryer

Geography

Floorplan Breakdown

Structural Layout

Second
Family RoomPrimary BedroomBathroom 1
First
Dining RoomKitchenBedroom 2Bathroom 2
Dining Room
Lvl First

19 x 16

Closet, Flooring - Hardwood, Open Floorplan

Kitchen
Lvl First

16 x 12

Bathroom - Full, Ceiling Fan(s), Flooring - Hardwood, Countertops - Stone/Granite/Solid, Countertops - Upgraded, Cabinets - Upgraded, Open Floorplan, Stainless Steel Appliances, Gas Stove

Family Room
Lvl Second

35 x 24

Skylight, Ceiling Fan(s), Vaulted Ceiling(s), Flooring - Hardwood, Flooring - Wall to Wall Carpet

Primary Bedroom
Lvl Second

19 x 15

Bathroom - Full, Ceiling Fan(s), Flooring - Hardwood, Balcony / Deck

Bedroom 2
Lvl First

15 x 12

Bathroom 1
Lvl Second

Bathroom - Full, Bathroom - Double Vanity/Sink, Bathroom - Tiled With Shower Stall, Skylight, Vaulted Ceiling(s), Closet, Flooring - Marble, Countertops - Stone/Granite/Solid, Attic Access, Deck - Exterior, Dryer Hookup - Electric, Exterior Access, Washer Hookup

Bathroom 2
Lvl First

Bathroom - Full, Bathroom - Tiled With Tub & Shower, Beamed Ceilings, Flooring - Marble, Countertops - Stone/Granite/Solid, Wainscoting, Pedestal Sink

Listing Provided By

Listing Agent: Jeanmarie Minton

Listing Office: Keller Williams Realty Evolution

MLS® Number: 73582112