Character Duplex with Two-Level
For Sale
$1,050,000
126-1/2 Federal St, Salem, MA 01970
Well-maintained duplex with hardwood floors, granite/stone counters, and a two-level second unit plus off-street parking.
Property Size2,926 SF
Price / SF$358.85
Days on Market175
Property Features for 126-1/2 Federal St
General Information
Standard status
Active
Size
2,926 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
B1
Additional Details
Multifamily Units
2
Amenities
Wall Unit(s)
Forced Air, Natural Gas, Steam, Wall Unit
Gas Dryer Hookup
Wood, Hardwood, Stone/Ceramic Tile
Range, Dishwasher, Disposal, Refrigerator, Washer, Dryer, Freezer, Microwave
Ceiling Fan(s), Pantry, Storage, Stone/Granite/Solid Counters, Walk-In Closet(s), Bathroom With Tub & Shower, Cathedral/Vaulted Ceilings, Bathroom with Shower Stall, Living Room, Dining Room, Kitchen, Family Room
No
Shingle
Rain Gutters
Public Transportation, Shopping, Medical Facility, Highway Access, House of Worship, Public School, University, Sidewalks
for Gas Range, for Gas Dryer
6
Building Details
Building Size
2,926 SF
Year Built
1880
Stories
3
Tenancy
Multi
Listing Agency:
J. Barrett & Company
Listed By:
Daniel Meegan
(617) 388-8500
Source:
Reishomesearch
Added: May 8
Changed: Oct 25
Last Checked: Sep 29 at 9:08AM
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 J. Barrett & Company
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This beautifully maintained duplex offers character and flexible space across two units. Both units feature hardwood floors throughout, oversized windows, spacious layouts, and inviting living areas. Interiors include generous pantry storage, walk-in closets, stone and granite countertops, and updated electrical panels for added comfort and peace of mind. The second unit spans two levels with cathedral ceilings, wall AC, and a dedicated family room.
A full unfinished basement provides laundry and abundant storage. Outside, the home offers a private patio and porch suited for relaxing or entertaining. The property also includes 6 deeded off-street parking spaces.
The building was formerly a legal grandfathered 3-family, and the remarks note potential future conversion/ADU possibilities subject to buyer due diligence and city approvals. The property is described as minutes from downtown Salem, dining, shopping, and commuter rail.
A full unfinished basement provides laundry and abundant storage. Outside, the home offers a private patio and porch suited for relaxing or entertaining. The property also includes 6 deeded off-street parking spaces.
The building was formerly a legal grandfathered 3-family, and the remarks note potential future conversion/ADU possibilities subject to buyer due diligence and city approvals. The property is described as minutes from downtown Salem, dining, shopping, and commuter rail.
Key Highlights
- Built in 1880, beautifully maintained Salem duplex with character, space, and flexible living layouts
- Both units feature hardwood floors and oversized windows for abundant natural light
- Kitchens include stone and granite countertops, plus generous pantry storage and walk‑in closets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,292
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$985,840
$985.8K
Cap Rate 7%
$704,171
$704.2K
Cap Rate 9%
$547,689
$547.7K
Market Conditions
NOI Build-Up for 2,926 SF
Gross rent
$73.7K $25.20/SF
− Vacancy
−$3.3K −$1.13/SF
EGI
$70.4K $24.07/SF
− OpEx
−$21.1K −$7.22/SF
NOI
$49.3K $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%
$985,840
Cap Rate 7%
$704,171
Cap Rate 9%
$547,689
Alternative Uses
Best Use
Multifamily LT 5
$704.2K
$616.2K – $821.5K
NOI $49,292 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$635.6K
$556.2K – $741.6K
NOI $44,494 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,253 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,355
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with hardwood floors, granite/stone counters, and a two-level second unit plus off-street parking.
Where is this duplex located?
The property is located at 126-1/2 Federal St Salem, MA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Built in 1880, beautifully maintained Salem duplex with character, space, and flexible living layouts; Both units feature hardwood floors and oversized windows for abundant natural light; Kitchens include stone and granite countertops, plus generous pantry storage and walk‑in closets
