Duplex With Ocean
New
For Sale
$1,200,000
13-15 Saltonstall Parkway, Salem, MA 01970
Two-story property with updated interiors, separate living areas, and central air conditioning.
Property Size2,688 SF
Price / SF$446.43
Days on Market5
Property Features for 13-15 Saltonstall Parkway
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
fireplace
central air conditioning
Building Details
Year Built
1927
Buildings
1
Stories
2
Listing Agency:
Coldwell Banker Realty - Marblehead
(781) 913-6663
Listed By:
Paula Pickett
(617) 236-0353
Source:
Thecharlesrealty
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 28 at 6:49AM
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 - Marblehead
Investment Insights
Based on property information with market context.
Built in 1927, this 2,688-square-foot duplex contains two residential units across two floors. The first level includes two bedrooms, a renovated bathroom with a walk-in shower, a kitchen with stainless steel appliances, granite counters, and a quartz-topped island, along with a dining room and fireplaced living room. Original built-ins and woodwork add character, while hardwood flooring, high ceilings, newer windows, recessed lighting, and central air conditioning support everyday comfort.
The upper unit adds a sunroom, laundry room, and attic access. Ocean views extend from the second floor, and the R2 zoning supports the property's duplex classification. The layout provides two distinct living areas within a single 1927 residence.
The upper unit adds a sunroom, laundry room, and attic access. Ocean views extend from the second floor, and the R2 zoning supports the property's duplex classification. The layout provides two distinct living areas within a single 1927 residence.
Key Highlights
- 2,688 SF duplex built in 1927
- Two residential units arranged over two floors
- First‑floor unit has 2 bedrooms and a renovated walk‑in‑shower bath
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
$45,283
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
3.77%
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%
$905,660
$905.7K
Cap Rate 7%
$646,900
$646.9K
Cap Rate 9%
$503,144
$503.1K
Market Conditions
NOI Build-Up for 2,688 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
$67.7K $25.20/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$64.7K $24.07/SF
− OpEx
−$19.4K −$7.22/SF
NOI
$45.3K $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 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%
$905,660
Cap Rate 7%
$646,900
Cap Rate 9%
$503,144
Alternative Uses
Best Use
Multifamily LT 5
$646.9K
$566.0K – $754.7K
NOI $45,283 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$583.9K
$510.9K – $681.3K
NOI $40,875 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,390 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,666
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-story property with updated interiors, separate living areas, and central air conditioning.
Where is this duplex located?
The property is located at 13-15 Saltonstall Parkway Salem, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2,688 SF duplex built in 1927; Two residential units arranged over two floors; First‑floor unit has 2 bedrooms and a renovated walk‑in‑shower bath
