Historic Two-Family
For Sale
$949,900
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 Market100
Property Features for 5 Daniels St
General Information
Standard status
Active
Size
2,496 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Zoning
R2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,516
Amenities
hardwood floors
fireplaces
laundry
large dry basement
private patio
replacement windows
insulation
Building Details
Building Size
2,496 SF
Year Built
1805
Stories
3
Units
2
Tenancy
Multi
Listing Agency:
Tache Real Estate, Inc.
(978) 745-2004
Listed By:
Virginia Carson
(845) 235-7465
Source:
Aucoinryanrealty
Added: Jul 22
Changed: Oct 28
Last Checked: Oct 24 at 5:58PM
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.
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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 / Yr
$42,048
Cap Rate
4.43%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,266
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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
