
24 Ord Street Salem — Photo 1 of 40
$699,000
Investment Analysis — 24 Ord Street
Salem, MA 01970 — Gallows Hill
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 3.42% cap rate and $23,874/yr in estimated NOI at the $699,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
2
SqFt
1,909
Style
Single Family
Built
1880
Historic character meets thoughtful modern living in Salem’s Gallows Hill neighborhood on the Peabody line. Built in 1880 and beautifully maintained, this distinctive 4-bedroom, 2-bath home blends original charm with extensive updates. Inside, an open-concept living and dining area flows into the beautifully renovated kitchen, hardwood floors throughout, exposed brick chimney and classic architectural details celebrate the home's historic character while thoughtful updates provide today's desired comfort. A sunroom/office offers a bright, flexible space to work or enjoy the seasons. The second-floor spa-like bath is a standout, featuring a glass-enclosed shower, freestanding soaking tub, custom cabinetry and abundant natural light. Multiple bedrooms provide flexibility for guests, gym, office or hobbies. The finished walk-out lower level is more than traditional basement space, with full-size windows, direct exterior access and more flexible space. Step outside to private, fenced, landscaped yard with covered Cumaru deck. The expansive 9'x37' detached workshop is a rare find in the city. Impressive history of improvements: removal of knob-and-tube wiring (2013); roof, boiler, complete rubblestone foundation restoration (2014); kitchen, addition of second-floor bath (2016); Marvin Integrity windows, replacement of the entire north wall, exterior trim improvements (2018); new Cumaru deck (2021); new oak staircase (2023); rebuilt chimney (2025). A special Salem home offering historic charm, modern updates, flexible living space, rare workshop space and inviting outdoor living! Open House Sat & Sun 9/12 & 9/13 12PM - 2PM.
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 1,909 sq ft principal dwelling). Lot size: 3,528 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
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Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Water Heater • Range • Dishwasher • Disposal • Refrigerator • Dryer • Wine Refrigerator • Plumbed For Ice Maker
Neighborhood
Public Transportation • Shopping • Park • Walk/Jog Trails • Medical Facility • Public School
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,First11.7 x 16.6
Flooring - Hardwood, French Doors, Open Floorplan
Dining Room
Lvl Main,First12 x 13.11
Flooring - Hardwood, French Doors, Breakfast Bar / Nook, Open Floorplan, Lighting - Pendant
Kitchen
Lvl Main,First12.5 x 9.8
Flooring - Hardwood, Countertops - Stone/Granite/Solid, Open Floorplan, Recessed Lighting, Stainless Steel Appliances, Peninsula, Lighting - Pendant
Master Bedroom
Lvl Second14.2 x 14.4
Walk-In Closet(s), Closet, Flooring - Hardwood, Recessed Lighting
Bedroom 2
Lvl Second11.2 x 15.1
Bedroom 3
Lvl Basement8.6 x 13.7
Flooring - Hardwood, French Doors
Bedroom 4
Lvl First10.7 x 9.6
Closet, Flooring - Hardwood
Bathroom 1
Lvl Second7.3 x 13.7
Bathroom - Full, Bathroom - Tiled With Shower Stall, Bathroom - With Tub, Flooring - Hardwood, Enclosed Shower - Fiberglass
Bathroom 2
Lvl Basement10.4 x 10.7
Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Dryer Hookup - Electric, Washer Hookup
Listing Agent: Diane Reynolds
Listing Office: Century 21 North East
MLS® Number: 73571792
