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 Market21
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: Sep 3
Last Checked: Sep 3 at 2:06AM
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 Gibson Sotheby's International Realty
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 = 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
$37,853
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
4.74%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 - 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
