Historic Two-Family
For Sale
$949,900
Pending
5 Daniels St, Salem, MA 01970
Residential Income, Salem, MA
Property Size2,496 SF
Lot Size0.08 Acres
Days on Market48
Property Features for 5 Daniels St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 4, Bedroom 4, Bathroom 3, Bathroom 1, Bathroom 2
Parking
4
Fireplace
1
Elementary school
Bentley
Middle school
Carlton
High school
Salem
Directions
See MapQuest
Subdivision
Downtown
Standard status
Pending
APN
M:0035 B:0381 L:0000,2138153
Size
2,496 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7516
Amenities
fireplaces
hardwood floors
laundry
private patio
Building Details
Year built
1805
Floors in Building
4
Number of units
2
Listing Agency:
Tache Real Estate, Inc.
Listed By:
Julianna Tache
(978) 745-2004
Added: Jul 20
Changed: Sep 4
Last Checked: Sep 5 at 4:06PM
MLS# 73552433
Copyright © 2026 MLS Property Information Network Inc. 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.
Built in 1805, this duplex contains two townhouse-style residences within 2,496 square feet. Each unit offers a living room, new kitchen, two bedrooms, hardwood flooring, a fireplace, laundry, replacement windows, and insulation. The property also includes a large dry basement, two new electric panels, two gas water heaters, two gas-fired boilers, and a new roof.
A two-car garage, driveway, private patio, and recent interior and exterior paint add functional improvements. The property occupies 0.0776 acres and is zoned R2 in Salem, Massachusetts. The owner will convey the building vacant.
A two-car garage, driveway, private patio, and recent interior and exterior paint add functional improvements. The property occupies 0.0776 acres and is zoned R2 in Salem, Massachusetts. The owner will convey the building vacant.
Key Highlights
- 2,496‑square‑foot duplex on 0.0776 acres
- Two townhouse‑style units, each with 2 bedrooms
- Built in 1805 with hardwood floors and fireplaces
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
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 townhouse-style units include updated kitchens, fireplaces, laundry, private outdoor space, and a detached two-car garage.
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: 2,496‑square‑foot duplex on 0.0776 acres; Two townhouse‑style units, each with 2 bedrooms; Built in 1805 with hardwood floors and fireplaces
