Historic Two-Family
For Sale
$949,900
Pending
5 Daniels St, Salem, MA 01970
Two separate townhouse units with updated kitchens, multiple baths, hardwood floors, fireplaces, laundry, and a large dry basement.
Property Size2,496 SF
Days on Market50
Property Features for 5 Daniels St
General Information
Standard status
Pending
Size
2,496 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Amenities
hardwood floors
fireplaces
laundry
large dry basement
private patio
replacement windows
insulation
Building Details
Year Built
1805
Tenancy
Multi
Listing Agency:
Tache Real Estate, Inc.
(978) 745-2004
Listed By:
Virginia Carson
(845) 235-7465
Source:
Lockandkeyre
Added: Jul 20
Changed: Sep 7
Last Checked: Sep 7 at 7:06AM
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 Tache Real Estate, Inc.
Investment Insights
Based on property information with market context.
Historic Salem Antique two-family built in 1805, consisting of two townhouses. Each unit includes a living room, a new kitchen, two bedrooms, and 1 1/2 baths, along with hardwood floors and fireplaces. The property also features laundry facilities, replacement windows, insulation, and a large dry basement. Recent and major updates include a brand new roof, replacement windows, insulation improvements, two new electric panels, two gas water heaters, and two gas-fired boilers.
The home offers a two-car garage, driveway, and a private patio. The owner will convey the property empty, providing flexibility for an owner-occupant or investor to move forward with the next steps.
Each townhouse is configured as a self-contained residence with its own interior layout and the same core features, including bedrooms, fireplaces, laundry, and basement space.
The home offers a two-car garage, driveway, and a private patio. The owner will convey the property empty, providing flexibility for an owner-occupant or investor to move forward with the next steps.
Each townhouse is configured as a self-contained residence with its own interior layout and the same core features, including bedrooms, fireplaces, laundry, and basement space.
Key Highlights
- Historic Salem antique 2‑family built in 1805 for Edmund Stanley (Friendship’s first Captain)
- Two townhouse units, each with living room, 2 bedrooms, and 1½ baths
- Updates include new kitchens, replacement windows, insulation, and recent paint
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
$42,048
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
4.43%
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%
$840,960
$841.0K
Cap Rate 7%
$600,686
$600.7K
Cap Rate 9%
$467,200
$467.2K
Market Conditions
NOI Build-Up for 2,496 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
$62.9K $25.20/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$60.1K $24.07/SF
− OpEx
−$18.0K −$7.22/SF
NOI
$42.0K $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%
$840,960
Cap Rate 7%
$600,686
Cap Rate 9%
$467,200
Alternative Uses
Best Use
Multifamily LT 5
$600.7K
$525.6K – $700.8K
NOI $42,048 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$542.2K
$474.4K – $632.6K
NOI $37,955 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,434 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,266
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
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 separate townhouse units with updated kitchens, multiple baths, hardwood floors, fireplaces, laundry, and a large dry basement.
Where is this duplex located?
The property is located at 5 Daniels St Salem, MA.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Historic Salem antique 2‑family built in 1805 for Edmund Stanley (Friendship’s first Captain); Two townhouse units, each with living room, 2 bedrooms, and 1½ baths; Updates include new kitchens, replacement windows, insulation, and recent paint
