Two-Family Historic
31 Williams Street Salem, MA 01970
31 Williams Street, Salem, MA, 01970
$599,000
For Sale
$599,000
Cedar-shingle 2-family home with a private rooftop deck, located in a National Register historic district.
Property Size1,863 SF
Price / SF$321.52
Days on Market58
Property Features for 31 Williams Street
General Information
- Standard status
- Active
- Size
- 1,863 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1800
Listing agency
Real Broker MA,LLC
Listed by
Stewart Woodward
(617) 236-0711
Source
Campionre
Added: May 26 Updated: Jul 21 at 7:44PM Checked: Jul 22 at 6:43AM
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 Real Broker MA,LLC
Investment Insights
Based on property information with market context.
This cedar-shingle 2-family residence offers two units and a private rooftop deck. The property needs repairs and updates, presenting an opportunity for a buyer to renovate and tailor the home to their needs.
Located in Salem’s historic Bridge Street Neck area within a National Register historic district, the home sits on a quiet, tree-shaded street. The public remarks note proximity to downtown and popular destinations including the commuter rail, Salem Common, the harbor, and local museums, with Essex Street dining, cafes, and boutiques nearby.
On-street permit parking only is noted in the remarks. Prospective buyers should contact the listing agent with questions regarding the property’s condition and updates needed.
Located in Salem’s historic Bridge Street Neck area within a National Register historic district, the home sits on a quiet, tree-shaded street. The public remarks note proximity to downtown and popular destinations including the commuter rail, Salem Common, the harbor, and local museums, with Essex Street dining, cafes, and boutiques nearby.
On-street permit parking only is noted in the remarks. Prospective buyers should contact the listing agent with questions regarding the property’s condition and updates needed.
Key Highlights
- Cedar‑shingle 2‑family home built in 1800 in Salem’s historic Bridge Street Neck neighborhood
- Located in a National Register historic district featuring Federal, Greek Revival, and Victorian homes nearby
- Includes two units plus a private rooftop deck with city views
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 | $46.9k | $25.20 |
| − Vacancy | −$2.1k | −$1.13 |
| EGI | $44.8k | $24.07 |
| − OpEx | −$13.5k | −$7.22 |
| NOI | $31.4k | $16.85 |
1,863 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$448.3K
$392.3K – $523.1K
NOI $31,384 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$404.7K
$354.1K – $472.2K
NOI $28,330 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$1.10M
$965.0K – $1.29M
NOI $77,202 @ 7.0% cap · market cap 12.89%
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 - Cedar-shingle 2-family home with a private rooftop deck, located in a National Register historic district.
Where is this duplex located?
The property is located at 31 Williams Street Salem, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Cedar‑shingle 2‑family home built in 1800 in Salem’s historic Bridge Street Neck neighborhood; Located in a National Register historic district featuring Federal, Greek Revival, and Victorian homes nearby; Includes two units plus a private rooftop deck with city views
