Duplex With Solar
For Sale
$999,999
19 Appleton Street, Salem, MA 01970
Two-unit property with flexible living areas, six off-street parking spaces, a fenced yard, and garage storage.
Property Size3,145 SF
Price / SF$317.96
Days on Market162
Property Features for 19 Appleton Street
General Information
Standard status
Active
Size
3,145 SF
Total Parking Spaces
6
Property subtype
Multi-family
Lease Term
[]
Additional Details
Gross Income
$37,200
Public Transit
Yes
Multifamily Units
2
Amenities
fenced yard
garage storage
solar panels
high-efficiency HVAC
Building Details
Year Built
1870
Listing Agency:
eXp Realty
Listed By:
Candor Investment Group
(978) 710-5616
Source:
Cabotandcompany
Added: Apr 25
Changed: Oct 3
Last Checked: Sep 30 at 1:50PM
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 eXp Realty
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,981
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,059,620
$1.1M
Cap Rate 7%
$756,871
$756.9K
Cap Rate 9%
$588,678
$588.7K
Market Conditions
NOI Build-Up for 3,145 SF
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $52,981 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$683.2K
$597.8K – $797.1K
NOI $47,824 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,328 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - 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
