33 Chestnut St Salem — Photo 1 of 40
Recent Drop: $125,000
$1,600,000
Investment Analysis — 33 Chestnut St
Salem, MA 01970 — McIntire Historic District
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 5-bedroom in 01970 carries an estimated $3,390/mo in gross rent — about a 1.10% cap rate and $17,575/yr in estimated NOI at the $1,600,000 list price. Adjust every assumption in the calculator below.
Beds
5
Baths
3
SqFt
4,369
Style
Single Family
Built
1828
Grand Federal townhouse offering four floors of gracious living on Salem's celebrated Chestnut Street. Generously scaled living and dining rooms showcase original woodwork and elegant King of Prussia marble mantels. A pair of dramatic 9-foot doorways in the dining room open to a deck with steps to the garden below, creating seamless indoor-outdoor living. Reflecting the home's thoughtful design, a service kitchen on the main level connects by dumbwaiter to the chef's kitchen below, featuring Thermador fridge & freezer and an 8-burner gas range. The second floor offers a bay-windowed library/office with panoramic Chestnut Street views, a spacious den, and a primary suite. Two additional bedrooms, an office and bathroom occupy the third floor. In the McIntire Historic District, among Salem's finest 19th-century homes, this remarkable residence enjoys a beautiful garden, bluestone patio, and a welcoming neighborhood known for its active social traditions and strong sense of community.
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 4,369 sq ft principal dwelling). Lot size: 2,570 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 History
$1,600,000
Was $1,695,000
Aug 6, 2026
MLS® 73533798
$1,695,000
Was $1,725,000
Jul 16, 2026
MLS® 73533798
$1,725,000
Jun 10, 2026
MLS® 73533798
Listing Agent: Michael Selbst
Listing Office: Gibson Sotheby's International Realty
MLS® Number: 73533798