Two-Unit Duplex with Enclosed
53 Cedar Street, Salem, MA 01970
For Sale
New
$799,000
Each residence has two bedrooms and one bathroom, with separate enclosed porches for the first- and second-floor units.
Property Size2,247 SF
Lot Size0.10 Acres
Price / SF$355.59
Days on Market3
Property Features for 53 Cedar Street
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
paved driveway
private back yard and patio
enclosed front porch
enclosed second floor porch
Full,Walk-Out Access,Interior Entry,Bulkhead,Unfinished
Tile,Hardwood
2
No
4
Storm Window(s),Screens
Public Record
Living Room,Dining Room,Kitchen
2247
Fenced/Enclosed,Fenced
Corner Lot,Level
Public
Storm Door(s)
0.09
39.00
Paved Drive,Off Street,On Street,Paved
Paved
Rain Gutters,Garden
Stone,Brick/Mortar,Irregular
Public,Dead End
Public Maintained Road
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
Lynne Breed
(781) 608-8066
Source:
Popularproperties
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 7 at 8:17AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1915 duplex in Salem contains two units, each arranged with five rooms, two bedrooms, and one bathroom. The property totals 2,247 square feet on a 4,225-square-foot lot. Hardwood flooring and a paved driveway are among its existing features, and the grounds include a private rear yard and patio.
The first-floor unit has exclusive use of an enclosed front porch; the second-floor unit has its own enclosed porch. An unfinished, heated third-floor area is accessible from the second-floor unit and is not currently in use.
The first-floor unit has exclusive use of an enclosed front porch; the second-floor unit has its own enclosed porch. An unfinished, heated third-floor area is accessible from the second-floor unit and is not currently in use.
Key Highlights
- Two units, each with five rooms, two bedrooms, and one bathroom
- 2,247 square feet of building area on a 4,225‑square‑foot lot
- Unfinished heated third‑floor space accessed from the second‑floor unit
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.
How Realmo checks its estimates
Property Analytics
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
$497,500
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Essex County, MA
Properties on Market for Duplexes in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms and one bathroom, with separate enclosed porches for the first- and second-floor units.
Where is this duplex located?
The property is located at 53 Cedar Street 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 units, each with five rooms, two bedrooms, and one bathroom; 2,247 square feet of building area on a 4,225‑square‑foot lot; Unfinished heated third‑floor space accessed from the second‑floor unit
