Unoccupied Two-Family
16 Pleasant Street, Salem, MA 01970
For Sale
$825,000
Pending
Vacant two-family duplex with two flexible 2–3 bedroom units, hardwood floors, fireplaces, basement laundry hookups, and off-street parking.
Property Size2,622 SF
Days on Market198
Property Features for 16 Pleasant Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Multifamily Units
Amenities
classic hardwood floors
multiple fireplaces
easy to maintain outdoor space
full basement with laundry hookups
walk up attic
Building Details
Building Size
Year Built
Stories
Tenancy
Listing Agency:
James A. Finn & Sons
Listed By:
James Finn
(978) 922-0379
Source:
Cjbarrett
Added: Apr 30
Changed: Nov 11
Last Checked: Sep 10 at 5:17AM
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 James A. Finn & Sons
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Investment Insights
Based on property information with market context.
This unoccupied two-family duplex offers two spacious residential units with flexible 2–3 bedroom layouts. Both units feature classic hardwood floors and multiple fireplaces. The property includes a full basement with laundry hookups and a walk-up attic, along with easy-to-maintain outdoor space and two-car off-street parking.
Located in Salem, the home is just moments from Salem Common, Collins Cove, and vibrant downtown, with Salem MBTA Depot approximately 0.8 miles away.
The overall configuration provides two separate living units supported by basement laundry infrastructure and additional attic space, offering a straightforward residential income property setup while it remains vacant.
Located in Salem, the home is just moments from Salem Common, Collins Cove, and vibrant downtown, with Salem MBTA Depot approximately 0.8 miles away.
The overall configuration provides two separate living units supported by basement laundry infrastructure and additional attic space, offering a straightforward residential income property setup while it remains vacant.
Key Highlights
- Vacant two‑family duplex with two flexible 2–3 bedroom units
- Classic hardwood floors and 4 total fireplaces across the home
- Full basement with laundry hookups and a walk‑up attic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,171
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,420
$883.4K
Cap Rate 7%
$631,014
$631.0K
Cap Rate 9%
$490,789
$490.8K
Market Conditions
NOI Build-Up for 2,622 SF
Gross rent
$66.1K $25.20/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$63.1K $24.07/SF
− OpEx
−$18.9K −$7.22/SF
NOI
$44.2K $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%
$883,420
Cap Rate 7%
$631,014
Cap Rate 9%
$490,789
Alternative Uses
Best Use
Multifamily LT 5
$631.0K
$552.1K – $736.2K
NOI $44,171 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$569.6K
$498.4K – $664.5K
NOI $39,871 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,655 @ 7.0% cap · market cap 13.17%
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
2,048
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
$497,500
Median Home Value
Market
Average Price Trend$/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 - Vacant two-family duplex with two flexible 2–3 bedroom units, hardwood floors, fireplaces, basement laundry hookups, and off-street parking.
Where is this duplex located?
The property is located at 16 Pleasant Street Salem, MA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Vacant two‑family duplex with two flexible 2–3 bedroom units; Classic hardwood floors and 4 total fireplaces across the home; Full basement with laundry hookups and a walk‑up attic
