Two-Unit Duplex with
For Sale
$799,000
53 Cedar St, Salem, MA 01970
Well-maintained building with hardwood floors, a paved driveway, and private outdoor areas.
Property Size2,247 SF
Lot Size0.10 Acres
Price / SF$355.59
Days on Market67
Property Features for 53 Cedar St
General Information
Standard status
Active
Size
2,247 SF
Lot size
0.10 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,052
Building Details
Year Built
1915
Buildings
1
Stories
2
Listing Agency:
Gibson Sotheby's International Realty
(781) 631-8800
Listed By:
Lynne Breed
(781) 608-8066
Source:
Exprealty
Added: Aug 14
Changed: Oct 1
Last Checked: Oct 16 at 12:20PM
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 Gibson Sotheby's International Realty
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Investment Insights
Based on property information with market context.
Built in 1915, this two-unit duplex at 53 Cedar St in Salem, MA, contains 2,247 square feet of living space. Each apartment offers five rooms, two bedrooms, and one full bathroom, creating a clear and functional residential layout. Hardwood flooring and ongoing maintenance contribute to the property’s established character.
The building includes a paved driveway, private backyard, patio, and enclosed porches assigned separately to each unit. An unfinished third floor is reached through the upper apartment and provides additional heated space that is not currently in use. The property occupies a 4,225 square foot lot in Salem and is positioned for residential use by owner-occupants or residents seeking proximity to Salem State, as specifically noted in the property information.
The building includes a paved driveway, private backyard, patio, and enclosed porches assigned separately to each unit. An unfinished third floor is reached through the upper apartment and provides additional heated space that is not currently in use. The property occupies a 4,225 square foot lot in Salem and is positioned for residential use by owner-occupants or residents seeking proximity to Salem State, as specifically noted in the property information.
Key Highlights
- Two‑unit duplex at 53 Cedar St, Salem, MA
- 2,247 square feet of living space on a 4,225 square foot lot
- Each unit has 5 rooms, 2 bedrooms, and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,853
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,060
$757.1K
Cap Rate 7%
$540,757
$540.8K
Cap Rate 9%
$420,589
$420.6K
Market Conditions
NOI Build-Up for 2,247 SF
Gross rent
$56.6K $25.20/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$54.1K $24.07/SF
− OpEx
−$16.2K −$7.22/SF
NOI
$37.9K $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%
$757,060
Cap Rate 7%
$540,757
Cap Rate 9%
$420,589
Alternative Uses
Best Use
Multifamily LT 5
$540.8K
$473.2K – $630.9K
NOI $37,853 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$488.1K
$427.1K – $569.5K
NOI $34,169 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,115 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,896
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained building with hardwood floors, a paved driveway, and private outdoor areas.
Where is this duplex located?
The property is located at 53 Cedar St Salem, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit duplex at 53 Cedar St, Salem, MA; 2,247 square feet of living space on a 4,225 square foot lot; Each unit has 5 rooms, 2 bedrooms, and 1 bath
