Two-Unit Residential Income
16 School Street Salem, NH 03079
16 School Street, Salem, NH, 03079
$699,000
For Sale
$699,000
MULTI_FAMILY - Other - Salem, NH
Property Size2,288 SF
Lot Size2.00 Acres
Price / SF$305.51
Days on Market93
Property Features for 16 School Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RES
- Bedrooms
- 7
- Bathrooms
- 2
- Rooms
- Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 5, Bedroom 1, Bathroom 2, Basement, Bedroom 3, Bedroom 7, Bedroom 4
- Parking features
- Open
- Appliances
- Electric Water Heater, Oil Water Heater, Separate Water Heater, Water Heater, Water Heater off Boiler
- Standard status
- Active
- Size
- 2,288 SF
- Lot size
- 2.00 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8346
Utilities
- Utilities
- Cable Available
- Heating system
- Oil, Other (Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 1850
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Other
Listing agency
Keller Williams Realty Evolution
(978) 927-8700
Listed by
Elizabeth Smith
Added: Apr 21 Updated: Jul 19 at 6:37AM Checked: Jul 22 at 3:06AM
MLS# 5084584
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story duplex contains two separate units. Public record identifies the home as a 6-bedroom two-family, and the provided floor plans indicate a layout of 3 bedrooms on the first floor and 4 bedrooms on the second. The property also includes outdoor space and a barn on the lot that can provide additional storage.
Set on a large lot of 2 acres in Salem, the home is described as being in a quiet neighborhood, just steps from the elementary school and about a mile from Routes 93 and 495 for commuter convenience. Buyer to verify all information.
The property is zoned RES, and the listing reflects an address of 16 School Street, Salem, NH 03079.
Set on a large lot of 2 acres in Salem, the home is described as being in a quiet neighborhood, just steps from the elementary school and about a mile from Routes 93 and 495 for commuter convenience. Buyer to verify all information.
The property is zoned RES, and the listing reflects an address of 16 School Street, Salem, NH 03079.
Key Highlights
- Two‑story two‑family home with two separate units: 3‑bedroom unit and 4‑bedroom unit per floor plan
- Per public record: 6‑bedroom two‑family; buyer to verify bedroom count and layout
- Includes a barn plus a large backyard on a generous lot
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.7k | $25.20 |
| − Vacancy | −$2.6k | −$1.13 |
| EGI | $55.1k | $24.07 |
| − OpEx | −$16.5k | −$7.22 |
| NOI | $38.5k | $16.85 |
2,288 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$550.6K
$481.8K – $642.4K
NOI $38,544 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$496.0K
$434.0K – $578.7K
NOI $34,720 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$761.7K
$666.5K – $888.7K
NOI $53,322 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-story duplex with two separate units, including a 3-bedroom unit and a 4-bedroom unit.
Where is this duplex located?
The property is located at 16 School Street Salem, NH.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑story two‑family home with two separate units: 3‑bedroom unit and 4‑bedroom unit per floor plan; Per public record: 6‑bedroom two‑family; buyer to verify bedroom count and layout; Includes a barn plus a large backyard on a generous lot
