78 WALNUT ST Salem, NJ 08079
2,473 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 2,473 sqft
Price per Sqft $88
Subdivision None Available
MLS Listing ID NJSA2019254
Style Colonial
Abv Grd Liv Area 2,473
Year Built 1910
Annual Tax Amount $5,194
Tax Year 2025
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 45.00 x 111.00
Property Sub-Type Detached
Source BRIGHT
Property Description
The first-floor unit features 2 bedrooms, 1 full bathroom, a kitchen, dining room, and living room, providing the convenience of one-level living. The second-floor unit offers 2-3 bedrooms, 1 full bathroom, and a kitchen, with one of the rooms easily converted into a living room to create a more traditional 2-bedroom layout. A separate stairwell leading to the second floor enhances privacy and functionality between the two living spaces.
For investors, this property presents an attractive income-producing opportunity. Comparable 2-3 bedroom rentals in the Salem area may generate approximately $1,300 to $1,600 per month per unit, depending on market conditions, property condition, and tenant-paid utilities. Buyers are encouraged to conduct their own due diligence regarding rental income potential, zoning, and permitted uses.
Alternatively, the property can be enjoyed as a spacious single-family residence offering up to 5 bedrooms and 2 full bathrooms, ideal for those in need of extra space. As a single-family rental, estimated market rents may range from $1,900 to $2,200 per month, subject to condition and amenities.
Additional highlights include a walk-up attic and full basement providing abundant storage space, a newer roof, and leased solar panels designed to help offset utility costs. The first floor is heated by propane forced air, while the second floor utilizes electric baseboard heat, allowing for independent comfort throughout the home.
Conveniently located in the heart of Salem City, this property is just minutes from local shops, restaurants, parks, and major commuting routes. Students residing in Salem City may also benefit from opportunities offered through the Forman S. Acton Educational Foundation, which provides scholarships, educational programming, and college support for eligible students.
Whether you're looking to expand your investment portfolio, accommodate extended family, or find a home with room to grow, 78 Walnut Street offers endless possibilities. Don't miss your chance to explore everything this unique Salem City property has to offer—schedule your private tour today!
Location
State NJ
County Salem
Area Salem City (21713)
Zoning R-2
Rooms
Basement Partial, Unfinished
Interior
Interior Features 2nd Kitchen, Floor Plan - Traditional, Wood Floors, Additional Stairway, Attic, Formal/Separate Dining Room, Bathroom - Tub Shower
Hot Water Electric
Heating Forced Air, Baseboard - Electric
Cooling None
Flooring Vinyl, Wood
Inclusions both refrigerators and stoves in as-is condition
Equipment Stove, Refrigerator, Range Hood
Fireplace N
Appliance Stove, Refrigerator, Range Hood
Heat Source Propane - Leased
Exterior
Utilities Available Cable TV
Water Access N
Roof Type Shingle
Accessibility None
Garage N
Building
Lot Description Corner
Foundation Brick/Mortar
Above Ground Finished SqFt 2473
Sewer Public Sewer
Water Public
Architectural Style Colonial
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Salem City Schools
Others
Tax ID 13-00086-00004
Ownership Fee Simple
SqFt Source 2473
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
Nearby Locations
