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Property profile & analytics
OFF-MARKET
Estimated value
$1,125,000
Residential income homes
313 Essex St Salem, MA 01970-3271
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US38-1429865
Property profile
Verified
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Year built
1786
Construction
FRAME
Total area
5,949 SF
Lot
0.15 ac (6,660 SF)
Zoning code
R2
APN
SALE M:26 L:0472
UPID
US38-1429865
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.39M
Comparable Approach
Comparable
$805k
Blend (final)
Blend
$1.13M
Owner & transaction history
Shannon Mcinnis · 1 yrs held
Shannon Mcinnis
since 2025
6 recorded transactions
Zoning & alternative use
R2 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,510,000
6.5%
$1,390,000
7%
$1,290,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,705,000
Change: -10% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,645,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$1.13M
Range $1.01M – $1.24M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$189 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$15,276
Tax year 2024
Assessed value
$1,314,600
Assessed 2024
Previous assessed
$1,314,600
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$196,800
Assessed improvement
$1,117,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Status
Off-Market
Year built
1786
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
3
Units
15
Rooms
18
Bathrooms
3
Total area
5,949 SF
Lot
0.15 ac (6,660 SF)
Zoning code
R2
APN
SALE M:26 L:0472
UPID
US38-1429865
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
R2 · Salem, MA
Zoning R2 · permitted uses
R2 · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1786
Construction
FRAME
Heating
FORCED AIR
Stories
3
Buildings
1
Units
15
Rooms
18
Bathrooms
3
Lot
0.15 ac
Current owner
From public records · entity-resolved
Shannon Mcinnis
Individual
Mailing address
PO BOX 293, NEWBURYPORT, MA 01950-0393
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2025
$3,500,000
Shannon Mcinnis
Acasa Realty LLC
Deed
$2,400,000 · Everett Cooperative Bank
Feb 1, 2021
—
Acasa Rlty LLC
—
Deed
related
$150,000 · Patriot Bank
Nov 30, 2016
—
Acasa Realty LLC
—
Deed
related
$550,000 · Patriot Community Bank
Jan 11, 2008
$1
Acasa Realty LLC
Rosati,anthony E
Grant Deed
—
Dec 19, 2007
$1,000,000
Anthony E Rosati
George Heller Trust
Deed
$800,000 · Patriot Bk NA
Feb 21, 1996
$22,900
T Heller
313 Essex Street T
Grant Deed
$300,000 · Beverly National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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