Turnkey Two-Family
192 Salem St Wakefield, MA 01880
192 Salem St, Wakefield, MA, 01880
$835,000
For Sale
$835,000
Two-family duplex with updated units, hardwood floors, individual laundry hookups, and separate utilities.
Property Size1,408 SF
Price / SF$593.04
Days on Market90
Property Features for 192 Salem St
General Information
- Standard status
- Active
- Size
- 1,408 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1920
Listing agency
Barrett, Chris. J., REALTORSÂ
(781) 248-5011
Listed by
Christopher Barrett · License #9533397
(781) 248-5011
Source
Alliancepartnersre
Added: Apr 23 Updated: Jul 21 at 4:06AM Checked: Jul 21 at 4:06AM
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 Barrett, Chris. J., REALTORSÂ
Investment Insights
Based on property information with market context.
Turnkey two-family duplex set on a landscaped knoll. The first-floor unit offers four rooms with two bedrooms, including a newer 3/4 bath and an updated kitchen with Corian counters, a breakfast bar, and stainless-steel appliances. It also features an oversized living room with hardwood floors and lots of glass overlooking the backyard. Conveniently, the first-floor layout includes a garage under, basement and laundry access, and additional storage.
The second-floor apartment includes three rooms with one bedroom and has exclusive access through a large open front porch. This unit features a kitchen with newer stainless-steel appliances, a newer tiled full bath, and hardwood floors.
Outside, the large lot includes a 12x10 detached screen house. Each unit has individual laundry hookups, dedicated use driveways, and separate oil burners and electric service. The property is located close to highways, town, activities, and recreational use at Lake Q.
The second-floor apartment includes three rooms with one bedroom and has exclusive access through a large open front porch. This unit features a kitchen with newer stainless-steel appliances, a newer tiled full bath, and hardwood floors.
Outside, the large lot includes a 12x10 detached screen house. Each unit has individual laundry hookups, dedicated use driveways, and separate oil burners and electric service. The property is located close to highways, town, activities, and recreational use at Lake Q.
Key Highlights
- Turnkey 2‑family duplex built in 1920 with a 2‑bedroom 1st‑floor unit and a 1‑bedroom 2nd‑floor unit
- Updated 1st‑floor unit features corian kitchen counters, breakfast bar, and stainless‑steel appliances plus newer 3/4 bath
- Oversized living room with hardwood floors, lots of glass, and backyard views; 1st‑floor includes garage under, basement and laundry access
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 | $44.8k | $31.80 |
| − Vacancy | −$2.2k | −$1.57 |
| EGI | $42.6k | $30.23 |
| − OpEx | −$12.8k | −$9.07 |
| NOI | $29.8k | $21.16 |
1,408 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$425.6K
$372.4K – $496.6K
NOI $29,794 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$400.2K
$350.2K – $466.9K
NOI $28,014 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$833.5K
$729.3K – $972.5K
NOI $58,347 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-family duplex with updated units, hardwood floors, individual laundry hookups, and separate utilities.
Where is this duplex located?
The property is located at 192 Salem St Wakefield, MA.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: Turnkey 2‑family duplex built in 1920 with a 2‑bedroom 1st‑floor unit and a 1‑bedroom 2nd‑floor unit; Updated 1st‑floor unit features corian kitchen counters, breakfast bar, and stainless‑steel appliances plus newer 3/4 bath; Oversized living room with hardwood floors, lots of glass, and backyard views; 1st‑floor includes garage under, basement and laundry access
