Active
41 Days on market
47 Federal Street Salem — Photo 1 of 5
$599,900
47 Federal Street, Salem, MA 01970
Salem, MA 01970 — Downtown
Beds
4
Baths
1
SqFt
2,433
Style
Single Family
Built
1787
Well located 1787 Gambrel office building directly across from courthouse , 1 block to train and parking garage. Currently used as Attorney At Law Office. Huge plus is the off street parking allowing for 2 car tandem parking. The building also has central air and is within moments to banks, restaurants. Very high "in and out" index. BUyers and buyers agent should determine of a change of usage is possible.
Market Value Analysis
This Property
Size (SqFt) →Price →This Property$247/sqft
Local Avg (Salem)$413/sqft
40% BelowMarket Average
* Analysis is based on 20 actively listed and recently sold comparable properties strictly within Salem, MA.
Property Details
Financials
Original Price$599,900
Annual Taxes$11,422.2
Parking
Garage0
Off-Street2
Interior Specifications
Total Rooms8
Fireplaces2
FlooringTile, Vinyl, Carpet
BasementNone
Climate & Utilities
HeatingForced Air
CoolingCentral Air
WaterPublic
SewerPublic Sewer
Building & Exterior
ConstructionFrame
RoofShingle, Wood
FoundationIrregular
ZoningB5
Property & Lot
Acres0.04
SqFt Lot1,960.2
Lot Features--
Neighborhood
Public Transportation • Shopping • Tennis Court(s) • Park • Walk/Jog Trails • Golf
Geography
Property History
Listed
$599,900
Jul 10, 2026
MLS® 73548035
Expired
$669,000
Jan 30, 2026
MLS® 73464715
Expired
$669,000
Jan 15, 2026
MLS® 73453127
Listed
$669,000
Jan 2, 2026
MLS® 73464715
Expired
$669,000
Dec 31, 2025
MLS® 73457035
Listed
$669,000
Nov 21, 2025
MLS® 73457035
Listed
$669,000
Nov 10, 2025
MLS® 73453127
Expired
$376,000
Feb 28, 2007
MLS® 70494035
Listed
$376,000
Nov 28, 2006
MLS® 70494035
Population
44,738
U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)
Median Household Income
$85K
U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)
Renter-Occupied Homes
50.4%
U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)
New Construction Permits — Essex County
992 housing units permitted in the last 12 months (-15% vs the prior 12 months) — 515 in 5+ unit buildings
U.S. Census Bureau, Building Permits Survey (through Jun '26)
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 2,433 sq ft principal dwelling). Lot size: 1,960 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.
Listing Provided By
Listing Agent: George Fallon
Listing Office: Tache Real Estate, Inc.
MLS® Number: 73548035
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