Residential Income Property with Bosch
For Sale
$965,000
361 Salem St., Wakefield, MA 01880
The residence includes stainless steel Bosch appliances, a central island, and a built-in microwave.
Property Size2,800 SF
Price / SF$344.64
Days on Market138
Property Features for 361 Salem St.
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
stainless steel appliances
kitchen island
built-in microwave
Range
Dishwasher
Disposal
Microwave
Refrigerator
Plumbed For Ice Maker
Central Air
Wood
Flooring - Stone/Ceramic Tile
Flooring - Hardwood
Central, Forced Air
4.0 Stories
$10,789 Taxes
Public
Built in 2024
Building Details
Year Built
2024
Buildings
1
Stories
4
Listing Agency:
CMD Realty Group, LLC
(617) 224-8083
Listed By:
Frank Rubino
Source:
Donahuere
Added: May 19
Changed: Oct 2
Last Checked: Oct 2 at 5:01PM
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 CMD Realty Group, LLC
Investment Insights
Based on property information with market context.
At 361 Salem St., Unit 2, this residential income property was built in 2024 and contains more than 2,800 square feet. The unit occupies the first floor of a four-story structure and is described as being in exceptional condition.
The kitchen is equipped with stainless steel Bosch appliances, a central island, and a built-in microwave.
The kitchen is equipped with stainless steel Bosch appliances, a central island, and a built-in microwave.
Key Highlights
- Built in 2024
- More than 2,800 square feet
- First‑floor unit in a four‑story structure
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
$55,711
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
5.77%
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%
$1,114,220
$1.1M
Cap Rate 7%
$795,871
$795.9K
Cap Rate 9%
$619,011
$619.0K
Market Conditions
NOI Build-Up for 2,800 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
$106.8K $38.16/SF
− Vacancy
−$5.6K −$1.98/SF
EGI
$101.3K $36.18/SF
− OpEx
−$45.6K −$16.28/SF
NOI
$55.7K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
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%
$1,114,220
Cap Rate 7%
$795,871
Cap Rate 9%
$619,011
Alternative Uses
Best Use
Apartment 5plus
$795.9K
$696.4K – $928.5K
NOI $55,711 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,031 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
460
Businesses Nearby
Explore this area
Business Placement
Demographics for 01880, MA
27,071
Population
11,513
Households
2.4
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
3,658
Density / Sq Mi
$130,419
Median Household Income
$78,860
Median Earnings
$1,872
Median Rent
$670,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The residence includes stainless steel Bosch appliances, a central island, and a built-in microwave.
Where is this residential income property located?
The property is located at 361 Salem St. Wakefield, MA.
What is the asking price?
The asking price for this property is $965,000.
What are key features of this property?
This property features: Built in 2024; More than 2,800 square feet; First‑floor unit in a four‑story structure
