$65,000
●
House -
For Sale
24 ELM STREET
SALEM, NJ 08079
3 Beds
1 Bath
1,044 Ft²
$553
Est. Monthly
About This Property
Discover the incredible upside potential waiting inside this
detached Salem rancher. Offering 3 well-sized bedrooms, 1 full
bathroom, and a spacious living and dining area combo, the
structural bones provide an effortless natural flow. The exterior
features a newer roof and solid siding, meaning you can focus your
renovation budget entirely on customizing the interior to your
exact taste. Selling strictly as-is, this property is the perfect
match for a savvy contractor or local portfolio builder looking for
a solid foundation to generate premium rental income or future
resale value. Conveniently located near major commuting routes and
community schools. Properties with this much built-in equity do not
last-bring your hammer and seize this project today!
Unit Size
1,044 Ft²
Days on Market
-
Land Size
0.08 acres
Price per sqft
$62
Property Type
House
Property Taxes
$234
HOA Dues
-
Year Built
1938
Listed By
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100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 9 days ago (Bright MLS #NJSA2020402)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 9, 2026 | Listed by Prime Realty Partners | $65,000 | |
| Listed by Prime Realty Partners | |||
| Jun 27, 2026 | Price Decreased |
$70,000
↓ $5K
(6.7%) | |
| Price Decreased | |||
| May 6, 2026 | Listed by Keller Williams - Main Street | $75,000 | |
| Listed by Keller Williams - Main Street | |||
   | |||
|
Welcome to 24 Elm Street — an investor special and a great opportunity in the heart of Salem! This 3-bedroom, 1-bath home is being sold strictly as-is, making it ideal for investors or buyers looking for a value-add project with strong upside potential.
The property offers a traditional, functional layout with comfortable living space and a natural flow throughout the main areas. It includes three well-sized bedrooms and a full bathroom, providing a solid foundation for renovation, rental income, or future resale potential.
Located on a quiet residential street, the home is conveniently close to local schools, shopping, dining, and major roadways for easy commuting and everyday convenience. With its location and potential, this property is well-suited for those looking to renovate and build equity.
| |||
| Feb 22, 2026 | Sold | ||
| Sold | |||
| Feb 3, 2026 | In contract | - | |
| In contract | |||
Show More
Property Highlights
Parking Details
Parking Features: None
Interior Details
Full Bathrooms: 1
Exterior Details
Square Footage: 1044
Square Footage Source: $0
Architectural Style: Ranch/Rambler
Year Built Source: Assessor
Year Built: 1938
Levels: 1
Other Structures: Above Grade, Below Grade
Construction Materials: Frame
Patio and Porch Features: Porch
Lot Features: Front Yard, Rear Yard, SideYard(s)
Lot Size Area: 3598
Lot Size Units: Square Feet
Lot Size Acres: 0.08
Lot Size Square Feet: 3598
Lot Size Dimensions: 30.00 x 120.00
Tax Lot: 00013
Water Source: Public
Financial Details
Tax Assessed Value: $32,500
Tax Annual Amount: $2,804
Utilities Details
Cooling Type: None
Heating Type: Other
Sewer : Public Sewer
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Salem
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Listed by: John Rinick
Prime Realty Partners
Last Updated: 5 hours ago
Data Source: Bright MLS , MLS# NJSA2020402
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2026 Bright MLS, Inc.
Prime Realty Partners
Last Updated: 5 hours ago
Data Source: Bright MLS , MLS# NJSA2020402
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017