16 School Street Salem, NH 03079
Two-story two-family with a large backyard and barn, offering separate 3-bedroom and 4-bedroom unit layouts.
- Added:
- Jul 7, 2026
- Days on Market:
- 6
- Last Refresh:
- Jul 8 at 1:56 am
Property Features for 16 School Street
General Information
- Standard status
- Active
- Size
- 2,288 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1850
Listing office Keller Williams Realty Evolution
Listing date Jul 7, 2026
Source Laerrealty
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
The property is located in a quiet neighborhood. Public remarks note it is steps from an elementary school and approximately one mile from Routes 93 and 495, supporting everyday accessibility for residents and commuting convenience.
For an owner-occupant or investor, the separate two-unit setup can support a live-in-and-lease arrangement or a traditional rental strategy, depending on preference. The combination of well-defined unit layouts, on-site barn space, and yard area adds practical day-to-day utility for tenants, while the commuter access referenced in the remarks may appeal to renters who value convenient travel routes. The property is offered for sale and is back on the market due to buyer financing difficulties.
Key Highlights
- Two‑story two‑family built in 1850 with separate unit layouts
- Unit mix includes a spacious 3‑bedroom unit and a 4‑bedroom unit
- Buyer to verify public‑record details; public record lists a 6‑bedroom two‑family with total 7 bedrooms per floor plans
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 | $57.7k | $25.20 |
| − Vacancy | −$2.6k | −$1.13 |
| EGI | $55.1k | $24.07 |
| − OpEx | −$16.5k | −$7.22 |
| NOI | $38.5k | $16.85 |
