Historic Two-Unit Residential
For Sale
$849,900
11 Barton St, Salem, MA 01970
Two-story multi-family built in 1821 with two full bathrooms per unit and a fireplace and beamed ceiling in the living area.
Property Size2,160 SF
Price / SF$393.47
Days on Market49
Property Features for 11 Barton St
General Information
Standard status
Active
Size
2,160 SF
Total Parking Spaces
6
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,279
Building Details
Building Size
2,160 SF
Year Built
1821
Stories
2
Tenancy
Multi
Listing Agency:
Dell Realty Inc.
Listed By:
Henrique De Oliveira
(617) 513-7735
Source:
Classifiedrealtygroup
Added: Jul 24
Changed: Sep 4
Last Checked: Sep 9 at 3:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dell Realty Inc.
Investment Insights
Based on property information with market context.
This two-unit residential income property is a multi-family home built in 1821 and presented in great condition. The layout includes two stories with living areas that feature a fireplace and beamed ceiling charm. The kitchen is designed with an expansive peninsula, stone countertops, and an elegant backsplash. Each of the two full bathrooms is equipped with a double vanity and a beautifully tiled walk-in shower.
The property is located at 11 Barton St in Salem, MA. The first unit is vacant, and the second unit is tenant occupied under TAW.
Overall, the building totals 2,160 square feet of living area across its two stories, providing a straightforward two-unit configuration for an income-focused buyer.
The property is located at 11 Barton St in Salem, MA. The first unit is vacant, and the second unit is tenant occupied under TAW.
Overall, the building totals 2,160 square feet of living area across its two stories, providing a straightforward two-unit configuration for an income-focused buyer.
Key Highlights
- Two‑story multi‑family residence built in 1821 with 2,160 SF of living area across two stories
- 1st unit is vacant
- 2nd unit is TAW
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,388
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$727,760
$727.8K
Cap Rate 7%
$519,829
$519.8K
Cap Rate 9%
$404,311
$404.3K
Market Conditions
NOI Build-Up for 2,160 SF
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.
Gross rent
$54.4K $25.20/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$52.0K $24.07/SF
− OpEx
−$15.6K −$7.22/SF
NOI
$36.4K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$727,760
Cap Rate 7%
$519,829
Cap Rate 9%
$404,311
Alternative Uses
Best Use
Multifamily LT 5
$519.8K
$454.9K – $606.5K
NOI $36,388 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$469.2K
$410.6K – $547.4K
NOI $32,846 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,510 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,424
Businesses Nearby
Explore this area
Business Placement
Demographics for 01970, MA
44,451
Population
20,920
Households
2.1
Avg Household Size
39
Median Age
50%
College-Educated
92%
High-School Grad
8.2 sq mi
ZIP Area
5,421
Density / Sq Mi
$85,189
Median Household Income
$52,024
Median Earnings
$1,800
Median Rent
$497,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-story multi-family built in 1821 with two full bathrooms per unit and a fireplace and beamed ceiling in the living area.
Where is this duplex located?
The property is located at 11 Barton St Salem, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two‑story multi‑family residence built in 1821 with 2,160 SF of living area across two stories; 1st unit is vacant; 2nd unit is TAW
