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INVESTMENT SNAPSHOT
About this property
5 Ropes Street and 8-10 Porter Street Court are two adjacent 3-story, 6-unit buildings with a total square footage of 19,720± and a rentable square footage of 13,472±. This offering includes twenty (20+) surface parking spots and 6-bay garages currently generating substantial income. Both buildings offer investors separately metered utilities, on-site coin-operated laundry facilities, and storage units per apartment for additional income. Investors will hedge any risk with multiple revenue streams within one investment opportunity. The offering is within walking distance of public transportation, restaurants, and many local amenities.
Property details
| Units | 12 |
| Living area | 13,472 sqft |
| Lot size | 17,611 sqft |
| Year built | 1915 |
| Price / sqft | $312 |
| County | Essex |
| MLS # | 73528048 |
Listing status
| Days on market | 4 days |
| Listed on | June 2, 2026 |
Taxes & financials
| Annual property tax | $35,875 |
| Tax year | 2026 |
| Assessed value | $99,999 |
| Zoning | R3 |
| Gross income (actual) | $999/yr |
| Net operating income (actual) | $999/yr |
| Total actual rent | $32,767/mo |
| Electric expense | $999/yr |
| Insurance expense | $999/yr |
Building & lot
| Stories | 3 |
| Total rooms | 60 |
| Lot size | 0.4 acres |
| Garage spaces | 6 |
| Parking spaces | 27 |
| Parking | Off Street, Assigned |
| Basement | Full, Interior Entry |
| Foundation | Stone, Brick/Mortar |
| Roof | Shingle, Rubber |
| Construction | Brick, Stone |
| Flooring | Tile, Vinyl, Hardwood |
Utilities & systems
| Sewer | Public Sewer |
| Water | Public |
| Utilities | for Gas Range, for Electric Range, Varies per Unit |
Location
More about investing in Salem →
Listing courtesy of North Shore Realty Advisors — Dan Pouladian. Listing data © MLS PIN.
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Questions & answers
Auto-generated from the listing data — richer AI answers coming with the live site.
How many units does 8-10 & 5 Porter St Ct & Ropes Portfolio, Salem MA 01970 have?
It is a 12-unit multi-family property with 13,472 sqft of living area, built in 1915.
How long has 8-10 & 5 Porter St Ct & Ropes Portfolio, Salem MA 01970 been on the market?
8-10 & 5 Porter St Ct & Ropes Portfolio, Salem MA 01970 has been listed for 4 days (since June 2, 2026).
What is the estimated cap rate on this 12-family in Salem?
Based on area median rents, the estimated cap rate is about 4.9%, with a Signal Score of 85/100. These are directional estimates, not an appraisal.
What is the price per unit?
At a list price of $4,200,000 across 12 units, that works out to roughly $350,000 per unit.
What are the property taxes on 8-10 & 5 Porter St Ct & Ropes Portfolio, Salem MA 01970?
Annual property taxes are $35,875 (2026), on an assessed value of $99,999.
What is the price per square foot?
At $4,200,000 for 13,472 sqft, that's about $312 per square foot.
Is there parking?
6 garage spaces and 27 total parking spaces (off street, assigned).
Where is this property located?
8-10 & 5 Porter St Ct & Ropes Portfolio, Salem MA 01970 is in Salem, Essex County, MA 01970.
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