Active

MLS: #NJSA2019254, Listed By: Wendy Sparks, EXP Realty, LLC, Source:Bright MLS

78 Walnut Street

SALEM, NJ 08079

$220,000 $927/Mo

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Overview

Bed

Bath

2,473

Sqft

0.11

Acre(Lot)

Description

Welcome to 78 Walnut Street, Salem, NJ, a versatile property offering exceptional opportunities for investors, owner-occupants, or those seeking a multigenerational living arrangement. Currently configured as a duplex, this spacious home provides flexibility to suit a variety of lifestyles and investment goals. 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 attr active 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!

Property Details

Property Type : Residential Income

Price : $220,000

AD Id : 84781390

MLS Id : NJSA2019254

Beds : 5

Lot Size : 0.11 Acre

Living Area Size : 2,473

Year Built : 1910

County : SALEM

Subdivision: None Available

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 5

Room Information

Rooms Total: 6 Has Basement: Yes Basement: Partial, Unfinished
Flooring Information

Wood, Vinyl
Roofing Information

Shingle
Interior Features

Roof: Shingle Appliances: Cooktop, Electric Water Heater, Refrigerator, Range Hood
Heating & Cooling

Has Heating: Yes Heating: Propane, Forced Air, Baseboard Cooling: None

Building Information

Year Built: 1910 Building Area Total: 2473 Construction Materials: Aluminum Siding Pool Features: None Private Pool: No
Exterior Features

Exterior Features: Lighting

Lot Information

Lot Dimensions: 45.00 x 111.00 Lot Size Acres: 0.11 Lot Size Source: Estimated Lot Size Square Feet: 4791.6 Lot Description: Corner Lot

Property Information

Subdivision: NONE AVAILABLE Source Property Type: Residential Income Postal Code Plus 4: 1747 Zoning Description: Residential Property SubType: Duplex Property Age: 116

Listing Price Information

Listing Price: $220000

Tax Information

Parcel Number: 13-00086-00004 Tax Lot: 00004 Tax Year: 2025 Annual Tax: $5194

Parking Information

On Street

Utility Information

Cable Available
Location Information

Direction: From RT 49 Salem, turn onto Walnut St. WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
344 Keasbey Street, Salem, NJ, 08079	$145,000	5	--	2,055	2,055 SqFt
376 E Broadway, Salem, NJ, 08079	$175,000	3	--	2,023	2,023 SqFt
371 E Broadway Rd, Salem, NJ, 08079	$185,000	6	--	3,440	3,440 SqFt
30 Davis Avenue, Salem, NJ, 08079	$85,000	4	--	800	800 SqFt
334 E Broadway Rd, Salem, NJ, 08079	$190,000	6	--	2,400	2,400 SqFt
159-161 Grant Street, Salem, NJ, 08079	$140,000	6	--	1,644	1,644 SqFt
315 E Broadway Rd, Salem, NJ, 08079	$215,000	12	--	5,645	5,645 SqFt
59 Market Street, Salem, NJ, 08079	$225,000	5	--	3,437	3,437 SqFt

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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 in which ByOwner participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and 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 this website may no longer be available because they are under contract, have closed or are no longer being offered for sale. Information Deemed Reliable But Not Guaranteed. Copyright © 2026 Bright MLS. All rights reserved.

ByOwner last updated this listing 06/14/2026 @ 10:55

MLS: NJSA2019254 LISTED BY: Wendy Sparks, EXP Realty, LLC 866-201-6210 SOURCE: Bright MLS