Building Details

Year Built 1870

Listing Agency: eXp Realty

Listed By: Candor Investment Group Show Phone

Source: Merryfoxrealty

Added: Apr 24 Changed: Oct 14 Last Checked: Oct 11 at 9:14AM

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Investment Insights

Based on property information with market context.

Built in 1870, this 3,145-square-foot duplex includes two residential units with distinct layouts. The upper residence offers multiple living areas and generously sized bedrooms, while the first-floor unit provides a separate income-producing configuration. Solar panels support lower electricity usage, and the property also includes high-efficiency heating and cooling, six off-street parking spaces, a fenced yard, and garage storage.

The property is located at 19 Appleton Street in Salem, Massachusetts, directly across from a 100-acre arboretum. Salem’s T-station, schools, and the ocean are each less than a mile away, with downtown dining and shops also accessible from the property.

Key Highlights

• 3,145‑square‑foot duplex with two residential units
• Built in 1870
• Six off‑street parking spaces with fenced yard and garage storage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,981

Cap Rate

5.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,059,620 $1.1M

Cap Rate 7%

$756,871 $756.9K

Cap Rate 9%

$588,678 $588.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,145 SF

Gross rent

$79.3K $25.20/SF

− Vacancy

−$3.6K −$1.13/SF

EGI

$75.7K $24.07/SF

− OpEx

−$22.7K −$7.22/SF

NOI

$53.0K $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%

$1,059,620

Cap Rate 7%

$756,871

Cap Rate 9%

$588,678

Alternative Uses

Best Use

Multifamily LT 5

$756.9K

$662.3K – $883.0K (±1% cap)

NOI $52,981 @ 7.0% cap · market cap 5.30%

Second Best

Apartment 5plus

$683.2K

$597.8K – $797.1K (±1% cap)

NOI $47,824 @ 7.0% cap · market cap 4.78%

Theoretical Best

Office A

$1.86M

$1.63M – $2.17M (±1% cap)

NOI $130,328 @ 7.0% cap · market cap 13.03%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Dany's Cleaning General Contractor

Suggested Use

Top Pick Storage Facility Locksmith Electrical Service (Bike/Boat/Book/etc) Store Computer & Electronic Repair Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,184

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-unit property with flexible living areas, six off-street parking spaces, a fenced yard, and garage storage.

Where is this duplex located?

The property is located at 19 Appleton Street Salem, MA.

What is the asking price?

The asking price for this property is $999,999.

What are key features of this property?

This property features: 3,145‑square‑foot duplex with two residential units; Built in 1870; Six off‑street parking spaces with fenced yard and garage storage