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    55 Butler St Salem, MA 01970

    For Sale
    $925,000

    Two-family home with conversion potential in prime Salem location.

    Lot size:
    0.10 Acres

    Property Features for 55 Butler St

    General Information

    Lot size
    0.10 Acres

    Building Details

    Year built
    1880

    Source: William Raveis R.E. & Home Services Agent Collin Sullivan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Sun-Filled Two-Family Home on Corner Lot

    Located on a corner lot, this sun-filled two-family home at 55 Butler St offers flexibility for investors or owner-occupants. The first-floor unit includes 2 bedrooms, 1 bathroom, and a parking space. The second unit is an upper duplex featuring 3 bedrooms, 2 full bathrooms, 2 parking spaces, and a sunroom off the kitchen, with 2 additional bonus rooms on the 3rd floor. The building also has a large basement with separate washers and dryers. Both units were renovated in 2018, including updated heat, hot water systems, and electrical. The property has been fully approved by the Salem ZBA to convert from a 2- to 3-unit building by splitting Unit 2 into individual units on the two separate floors. The approved plans were designed to facilitate the conversion, with the new 3rd floor unit retaining its existing bathroom. A kitchen, skylights, and laundry are to be added. The home is currently vacant.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9161911
    Latitude
    42.5208613

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    FAQs

    What type of property is this?
    Duplex - Two-family home with conversion potential in prime Salem location.
    Where is this duplex located?
    The property is located at 55 Butler St Salem, MA.
    What is the asking price?
    The asking price for this property is $925,000.
    What are key features of this property?
    This property features: - Approved for conversion to a 3-unit building, increasing investment potential.; - Two renovated units (2018) with updated systems (heat, hot water, electrical).; - Flexible opportunity for investors or owner-occupants.
    (617) 529-6622
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    55 Butler St Salem, MA 01970
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    55 Butler St Salem, MA 01970
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