Renovated Two-Unit Victorian
For Sale
$1,598,000
18 Balcomb Street, Salem, MA 01970
Historic two-residence property with townhouse-style layouts, private outdoor areas, and extensive system upgrades.
Property Size4,310 SF
Price / SF$370.77
Days on Market90
Property Features for 18 Balcomb Street
General Information
Standard status
Active
Size
4,310 SF
Total Parking Spaces
4
Property subtype
Multifamily
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,332
Building Details
Building Size
4,310 SF
Year Built
1875
Construction
Victorian
Listing Agency:
Cameron Real Estate Group
Listed By:
Jackelyn Enslow
(781) 486-3180
Source:
Classifiedrealtygroup
Added: Jul 18
Changed: Oct 4
Last Checked: Oct 14 at 8:21PM
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 Cameron Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1875, this 4,310-square-foot duplex contains two townhouse-style residences with a combined eight bedrooms and six full bathrooms. A substantial renovation retained the building’s historic character while introducing updated kitchens and baths, open-concept living areas, hardwood floors, high ceilings, and restored architectural elements. Improvements include a new roof, electrical and plumbing systems, HVAC with gas heat and central A/C, plus refreshed interior and exterior paint.
Each residence has its own driveway and private yard area, supporting separate household use within the same property. The building is located 1 mile from downtown Salem and the MBTA, with the address at 18 Balcomb Street in Salem, Massachusetts.
Each residence has its own driveway and private yard area, supporting separate household use within the same property. The building is located 1 mile from downtown Salem and the MBTA, with the address at 18 Balcomb Street in Salem, Massachusetts.
Key Highlights
- 4,310 SF duplex with two townhouse‑style residences
- Eight bedrooms and six full bathrooms across two units
- Built in 1875 with restored historic architectural details
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,607
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,452,140
$1.5M
Cap Rate 7%
$1,037,243
$1.0M
Cap Rate 9%
$806,744
$806.7K
Market Conditions
NOI Build-Up for 4,310 SF
Gross rent
$108.6K $25.20/SF
− Vacancy
−$4.9K −$1.13/SF
EGI
$103.7K $24.07/SF
− OpEx
−$31.1K −$7.22/SF
NOI
$72.6K $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%
$1,452,140
Cap Rate 7%
$1,037,243
Cap Rate 9%
$806,744
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$907.6K – $1.21M
NOI $72,607 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$936.3K
$819.3K – $1.09M
NOI $65,540 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$2.55M
$2.23M – $2.98M
NOI $178,605 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
682
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Historic two-residence property with townhouse-style layouts, private outdoor areas, and extensive system upgrades.
Where is this duplex located?
The property is located at 18 Balcomb Street Salem, MA.
What is the asking price?
The asking price for this property is $1,598,000.
What are key features of this property?
This property features: 4,310 SF duplex with two townhouse‑style residences; Eight bedrooms and six full bathrooms across two units; Built in 1875 with restored historic architectural details
