Two-Unit Multi-Family
16 School Street, Salem, NH 03079
MULTI_FAMILY - Other - Salem, NH
Property size:
2,288 SFLot size:
2.00 AcresPrice / SF:
$305/SF- Added:
- Apr 21, 2026
- Days on Market:
- 72
- Last Refresh:
- Jul 1 at 2:06 pm
Property Features for 16 School Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RES
- Bedrooms
- 7
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 1, Bedroom 7, Bathroom 2, Bedroom 4, Bedroom 5, Basement, Bedroom 3
- Parking features
- Open
- Appliances
- Electric Water Heater, Water Heater off Boiler, Oil Water Heater, Separate Water Heater, Water Heater
- Standard status
- Active
- Size
- 2,288 SF
- Lot size
- 2.00 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8346
Utilities
- Utilities
- Cable Available
- Heating system
- Other (Heating), Oil, Baseboard
- Water source
- Public
Building Details
- Year built
- 1850
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Elizabeth Smith
Listing office Keller Williams Realty Evolution 500 Cummings Center, Beverly, NH (978) 927-8700
Listing date Apr 21, 2026
MLS# 5084584
Listing URL
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Two‑story two‑family with two separate units (includes a 3‑bedroom unit and a 4‑bedroom unit)
- Per public record: 6‑bedroom two‑family; floor plans indicate 3 bedrooms on the first floor and 4 on the second (buyer to verify)
- Large backyard plus a barn on the property for additional storage or possible rental potential
- Wood frame construction with vinyl siding; roof is shingle
- Open parking; utilities include cable available
- Public water source; multiple water heaters listed (including electric and oil water heaters)
Overview
This two-story two-family home provides two separate units with a total of seven bedrooms based on available floor plans, including a 3-bedroom unit and a 4-bedroom unit. Per public record, the property is listed as a 6-bedroom two-family, and buyers are encouraged to verify the information. The home sits on a generous 2-acre lot and includes a large backyard and an on-site barn that can provide additional storage and may offer other uses depending on buyer plans.
The property is located in Salem, New Hampshire, in a quiet neighborhood just steps from the elementary school. It is also described as being only about a mile from Routes 93 and 495, supporting convenient commuting.
This configuration can fit tenants seeking separate living space or owners looking for an owner-occupied setup with rental income. The combination of two units, outdoor space, and the additional barn area can be useful for a range of multi-family buyers and operators. The listing is noted as back on market due to the prior buyer’s inability to obtain financing, and an open house is scheduled for 7/1 from 5:00 PM to 6:30 PM. Buyer to verify all information.
The property is located in Salem, New Hampshire, in a quiet neighborhood just steps from the elementary school. It is also described as being only about a mile from Routes 93 and 495, supporting convenient commuting.
This configuration can fit tenants seeking separate living space or owners looking for an owner-occupied setup with rental income. The combination of two units, outdoor space, and the additional barn area can be useful for a range of multi-family buyers and operators. The listing is noted as back on market due to the prior buyer’s inability to obtain financing, and an open house is scheduled for 7/1 from 5:00 PM to 6:30 PM. Buyer to verify all information.
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 |
2,288 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$550.6K
$481.8K – $642.4K
NOI $38,544 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$496.0K
$434.0K – $578.7K
NOI $34,720 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$761.7K
$666.5K – $888.7K
NOI $53,322 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Rockingham
- State
- New Hampshire
- Longitude
- -71.202187
- Latitude
- 42.790113
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two separate units with spacious bedrooms, plus a barn and large backyard on a lot with commuter access nearby.
Where is this duplex located?
The property is located at 16 School Street Salem, NH.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑story two‑family with two separate units (includes a 3‑bedroom unit and a 4‑bedroom unit); Per public record: 6‑bedroom two‑family; floor plans indicate 3 bedrooms on the first floor and 4 on the second (buyer to verify); Large backyard plus a barn on the property for additional storage or possible rental potential
