Two-Unit Residential Income
123 South Main Street Salem, NY 12865
123 South Main Street, Salem, NY, 12865
$399,000
For Sale
$399,000
Two-unit property with a large, versatile garage/workshop and substantial acreage for potential added development.
Property Size1,432 SF
Lot Size2.40 Acres
Price / SF$278.63
Days on Market104
Property Features for 123 South Main Street
General Information
- Standard status
- Active
- Size
- 1,432 SF
- Lot size
- 2.40 Acres
- Property subtype
- Multi Family / Duplex
Building Details
- Year Built
- 1900
Listing agency
PennyDot Realty
(518) 338-8998
Listed by
Stacey Loya · License #10401383633
(518) 338-8998
Source
Compass
Added: Apr 10 Updated: Jul 22 at 9:43AM Checked: Jul 22 at 9:43AM
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 PennyDot Realty
Investment Insights
Based on property information with market context.
This two-unit residential income property is offered with a large, versatile garage/workshop designed for storage, equipment, or business-related use. As a duplex setup, it provides two separate units within one asset.
The property is located at 123 South Main Street in Salem, NY 12865, and sits on substantial acreage. The available land offers flexibility for an owner looking to combine occupancy with workspace, as well as the possibility to subdivide or pursue additional building opportunities, subject to applicable requirements.
The property is located at 123 South Main Street in Salem, NY 12865, and sits on substantial acreage. The available land offers flexibility for an owner looking to combine occupancy with workspace, as well as the possibility to subdivide or pursue additional building opportunities, subject to applicable requirements.
Key Highlights
- Two‑unit property with wood siding, slate/asphalt roof, and electric heat
- Large garage/workshop on‑site for storage, equipment, or business use
- 2.4 acres of land provides space for potential added development
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 | $24.9k | $17.40 |
| − Vacancy | −$1.2k | −$0.86 |
| EGI | $23.7k | $16.54 |
| − OpEx | −$7.1k | −$4.96 |
| NOI | $16.6k | $11.58 |
1,432 SF · lease $17.40/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$236.9K
$207.3K – $276.3K
NOI $16,580 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$211.2K
$184.8K – $246.4K
NOI $14,784 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$355.3K
$310.9K – $414.5K
NOI $24,869 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit property with a large, versatile garage/workshop and substantial acreage for potential added development.
Where is this duplex located?
The property is located at 123 South Main Street Salem, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit property with wood siding, slate/asphalt roof, and electric heat; Large garage/workshop on‑site for storage, equipment, or business use; 2.4 acres of land provides space for potential added development
