What is the estimated cap rate for 1-7 Prince, Salem, MA 01970?

Based on rent reported on the MLS listing, 1-7 Prince, Salem, MA 01970 (4 units) has an estimated 5.84% cap rate at its $1,275,000 list price, assuming $9,050/mo gross rent, 5% vacancy, 20% operating expenses, property taxes. These are estimates, not investment advice.

What is the estimated rent for 1-7 Prince, Salem, MA 01970?

The MLS listing reports about $9,050/month in total rent for a 4-unit multi-family in 01970. That is in-place rent from the current leases, which can sit below market on a long-held property.

Active

13 Days on market

1-7 Prince Salem — Photo 1 of 22

$1,275,000

Investment Analysis — 1-7 Prince

Salem, MA 01970

Based on rent reported on the MLS listing, a 4-unit multi-family in 01970 carries $9,050/mo in gross rent — about a 5.84% cap rate and $74,416/yr in estimated NOI at the $1,275,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

3,400

Style

4 Family

Built

1960

Turnkey 4-unit investment opportunity in Salem perfect for investor or owner occupant. The Property consists four (4) 2-bedroom units, along with 5 off-street parking spaces. Heat and hot water are included in rent. The property has been extensively updated, featuring renovated kitchens and baths with granite countertops and stainless steel appliances, updated electrical, a newer roof, and new insulation in attic and walls. Additional highlights include basement storage and a clean, well-maintained condition, making this an ideal opportunity for investors seeking a low-maintenance, stabilized asset with upside through future rent optimization. See attached for the OM with detailed financials.

Estimates — not financial advice

These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.

Financials

Original Price$1,275,000

Annual Taxes$8,120

Parking

Garage0

Off-Street5

Interior Specifications

Total Rooms16

FireplacesNone

FlooringWood

BasementFull, Concrete

Climate & Utilities

HeatingOil

Cooling--

WaterPublic

SewerPublic Sewer

Building & Exterior

ConstructionFrame

RoofShingle

FoundationConcrete Perimeter

ZoningR3

Property & Lot

Acres0.11

SqFt Lot4,870

Lot FeaturesOther

Neighborhood

Public Transportation • Park • Highway Access • House of Worship • T-Station

Geography

Listing Provided By

Listing Agent: Francesca Little

Listing Office: Little & Co., REALTORS®

MLS® Number: 73570004