Welcome to 78 Walnut Street, Salem, NJ, a spacious and versatile property offering exceptional value and flexible residential opportunities for homeowners, investors, and multigenerational living.
If you’re searching for a home with space, flexibility, and opportunity, this property is worth exploring. This expansive residence features five bedrooms, two full bathrooms, a full basement, a walk-up attic, an enclosed sun porch, a spacious enclosed indoor first-floor entrance deck area, a backyard, a newer roof, and leased solar panels designed to help offset utility costs.
The home can be enjoyed as a five-bedroom, two-bathroom single-family residence or offers the potential for separate living arrangements featuring a two-bedroom, one-bathroom first-floor living space and a two-bedroom, one-bathroom second-floor living space. This flexible layout is ideal for a large family, multigenerational household, owner-occupied investment (live in one and rent out the other), rental property, or other approved residential use.
The first-floor living space welcomes you with a spacious enclosed indoor deck/entry area, offering a versatile area for relaxing, entertaining, an office space, or creating a comfortable sitting space. The home also features a separate enclosed sun porch filled with natural light, a separate stairwell entryway providing direct access to the second floor, and independent heating systems for each level. The first floor is heated by propane forced air, while the second floor is equipped with electric baseboard heat.
The full basement and walk-up attic provide additional storage and future possibilities. With multiple bedrooms, separate living areas, and generous common spaces, the property offers potential for flexible residential use, including an independent living program, supportive housing, or other residential-based program use, subject to applicable licensing, zoning, municipal approvals, and program requirements.
Investors will appreciate the property’s flexible floor plan and rental potential, with estimated combined rental income potential ofapproximately $3,000–$3,300+ per month, depending on final configuration, market conditions, tenant qualifications, and applicable approvals.
Conveniently located just steps from John Fenwick Academy and Walnut Street Field, home of the Salem Junior Rams youth football and cheerleading programs, and minutes from Salem’s historic downtown area, municipal buildings, local shops, and community attractions including Hires Avenue Community Garden and Martin Luther King Park.
Don’t miss this opportunity to own a spacious and versatile property in Salem, NJ, with tremendous potential for comfortable living, rental income, investment, or future expansion.
Property is being sold As-Is. Buyers are encouraged to perform all due diligence and inspections. Proof of mortgage pre-approval or proof of funds will be required with all submitted offers.
Schedule your private showing today and discover all that 78 Walnut Street has to offer!