Updated Two-Family
118 Atlantic Ave, Salisbury, MA 01952
For Sale
New
$839,900
Two open-plan residences include water-facing outdoor space and are a short walk from beach access.
Property Size1,955 SF
Price / SF$539.09
Days on Market5
Property Features for 118 Atlantic Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Lease Term
Additional Details
Multifamily Units
Amenities
second-floor deck
rear deck
outdoor shower
low-maintenance yard
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Coldwell Banker Realty - Andovers/Readings Regional
(978) 475-2201
Listed By:
Robyn Renahan
(978) 729-3141
Source:
Iverty
Added: Nov 11
Changed: Nov 14
Last Checked: Nov 14 at 2:17PM
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 Coldwell Banker Realty - Andovers/Readings Regional
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Investment Insights
Based on property information with market context.
This 1,558-square-foot, two-family property in Salisbury was built in 1955 and has been updated with a new roof, windows, flooring, insulation, tankless water heating, and lighting. Both residences have open layouts and updated finishes. A second-floor deck faces the water, while a separate rear deck adds outdoor space. The property also includes a low-maintenance yard, an outdoor shower, and two parking spaces.
The home is one street back from the sand and less than a five-minute walk from beach access #2. Restaurants, shops, and the Salisbury waterfront are within walking distance; the property is also near the reservation.
The home is one street back from the sand and less than a five-minute walk from beach access #2. Restaurants, shops, and the Salisbury waterfront are within walking distance; the property is also near the reservation.
Key Highlights
- Two‑family property with 1,558 square feet
- Less than a five‑minute walk to beach access #2
- Second‑floor deck faces the water; separate rear deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,246
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$524,920
$524.9K
Cap Rate 7%
$374,943
$374.9K
Cap Rate 9%
$291,622
$291.6K
Market Conditions
NOI Build-Up for 1,558 SF
Gross rent
$39.3K $25.20/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$37.5K $24.07/SF
− OpEx
−$11.2K −$7.22/SF
NOI
$26.2K $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 Rate 5%
$524,920
Cap Rate 7%
$374,943
Cap Rate 9%
$291,622
Alternative Uses
Best Use
Multifamily LT 5
$374.9K
$328.1K – $437.4K
NOI $26,246 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$338.5K
$296.2K – $394.9K
NOI $23,692 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$922.3K
$807.0K – $1.08M
NOI $64,563 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
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Business Placement
Demographics for 01952, MA
9,236
Population
4,981
Households
1.9
Avg Household Size
52
Median Age
44%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
600
Density / Sq Mi
$102,521
Median Household Income
$54,344
Median Earnings
$1,646
Median Rent
$450,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Essex County, MA
Properties on Market for Duplexes in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two open-plan residences include water-facing outdoor space and are a short walk from beach access.
Where is this duplex located?
The property is located at 118 Atlantic Ave Salisbury, MA.
What is the asking price?
The asking price for this property is $839,900.
What are key features of this property?
This property features: Two‑family property with 1,558 square feet; Less than a five‑minute walk to beach access #2; Second‑floor deck faces the water; separate rear deck
