Duplex with Direct Arlington Pond
For Sale
Under Contract
$1,350,000
243 Shore Drive, Salem, NH 03079
MULTI_FAMILY - Other - Salem, NH
Property Size2,377 SF
Lot Size0.38 Acres
Price / SF$567.94
Days on Market98
Property Features for 243 Shore Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Recreational
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3, Basement, Bedroom 1
Appliances
On Demand Water Heater
Lot features
Deep Water Access, Lake Access, Waterfront
Directions
Please use GPS.
Standard status
Active Under Contract
Size
2,377 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13300
Utilities
Utilities
Propane
Heating system
Forced Air, Oil, Propane (Heating), Baseboard
Cooling system
Central Air
Water source
Well
Water front
1
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Building materials
Fiberglss Batt Insulation, Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Century 21 North East · Century 21 Real Estate
(603) 893-8230
Listed By:
Joseph Armano
(617) 293-5235
Added: May 6
Changed: Aug 2
Last Checked: Aug 11 at 9:06PM
MLS# 5087247
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.
Investment Insights
Based on property information with market context.
243 Shore Drive is a two-family duplex situated on the private shores of Arlington Pond, set within a quiet cove with direct access to the water. The property includes a total of 2,377 square feet and sits on a 0.38-acre lot.
The home was built in 1950 and is served by a well for water. Utilities include propane, and the property features central air cooling. Heating is provided by forced air and baseboard systems, with oil and propane used for heating. An on-demand water heater is also included. Construction materials include wood frame with vinyl siding, and the roof is shingled.
Inside, the layout includes multiple bedrooms and bathrooms across the two units, along with a basement. The setting is described as a peaceful, year-round retreat with boating, kayaking, and fishing available from the property.
The home was built in 1950 and is served by a well for water. Utilities include propane, and the property features central air cooling. Heating is provided by forced air and baseboard systems, with oil and propane used for heating. An on-demand water heater is also included. Construction materials include wood frame with vinyl siding, and the roof is shingled.
Inside, the layout includes multiple bedrooms and bathrooms across the two units, along with a basement. The setting is described as a peaceful, year-round retreat with boating, kayaking, and fishing available from the property.
Key Highlights
- 0.38‑acre duplex with direct access to Arlington Pond waterfront
- Two‑family (duplex) configuration for flexible multi‑unit living
- 2,377 square feet total living area
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
$40,043
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
2.97%
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%
$800,860
$800.9K
Cap Rate 7%
$572,043
$572.0K
Cap Rate 9%
$444,922
$444.9K
Market Conditions
NOI Build-Up for 2,377 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
$59.9K $25.20/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$57.2K $24.07/SF
− OpEx
−$17.2K −$7.22/SF
NOI
$40.0K $16.85/SF
Area
Rockingham County, NH
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%
$800,860
Cap Rate 7%
$572,043
Cap Rate 9%
$444,922
Alternative Uses
Best Use
Multifamily LT 5
$572.0K
$500.5K – $667.4K
NOI $40,043 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$515.3K
$450.9K – $601.2K
NOI $36,070 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$791.4K
$692.5K – $923.3K
NOI $55,396 @ 7.0% cap · market cap 4.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 03079, NH
30,095
Population
13,511
Households
2.2
Avg Household Size
46
Median Age
39%
College-Educated
96%
High-School Grad
24.8 sq mi
ZIP Area
1,214
Density / Sq Mi
$101,339
Median Household Income
$59,515
Median Earnings
$1,487
Median Rent
$438,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family duplex on a private Arlington Pond cove with direct pond access and central air for year-round comfort.
Where is this duplex located?
The property is located at 243 Shore Drive Salem, NH.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 0.38‑acre duplex with direct access to Arlington Pond waterfront; Two‑family (duplex) configuration for flexible multi‑unit living; 2,377 square feet total living area
