Townhouse-Style
New
For Sale
$875,000
1 Granite Court, Gloucester, MA 01930
Two units include decks, fenced yards, and separate laundry facilities.
Property Size2,530 SF
Price / SF$345.85
Days on Market4
Property Features for 1 Granite Court
General Information
Standard status
Active
Size
2,530 SF
Property subtype
Multi-family
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
basement storage
separate laundry
deck
fenced backyard
Building Details
Year Built
1900
Listing Agency:
J. Barrett & Company
Listed By:
Laura Crowell · License #9586902
(978) 578-6570
Source:
Jbarrettrealty
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 2:36PM
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 J. Barrett & Company
Investment Insights
Based on property information with market context.
This 2,530-square-foot duplex contains two townhouse-style residences with separate living areas and expansive primary bedrooms. One unit includes an open arrangement connecting the living room, dining area, and kitchen. Both residences open to decks and private fenced outdoor areas. The property also provides off-street parking, basement storage, and individual laundry facilities for each unit.
Constructed in 1900, the property has been maintained with recent updates that include a renovated bathroom and new fencing. It is located on a residential street approximately ¼ mile from Gloucester High School and minutes from Downtown Gloucester. Shops, restaurants, the harbor, waterfront, local amenities, and North Shore beaches are also identified nearby.
Constructed in 1900, the property has been maintained with recent updates that include a renovated bathroom and new fencing. It is located on a residential street approximately ¼ mile from Gloucester High School and minutes from Downtown Gloucester. Shops, restaurants, the harbor, waterfront, local amenities, and North Shore beaches are also identified nearby.
Key Highlights
- Two‑unit duplex with 2,530 SF of building area
- Townhouse‑style residences with expansive primary bedrooms
- Deck access and private fenced‑in backyards for both units
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
$42,621
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
4.87%
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%
$852,420
$852.4K
Cap Rate 7%
$608,871
$608.9K
Cap Rate 9%
$473,567
$473.6K
Market Conditions
NOI Build-Up for 2,530 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
$63.8K $25.20/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$60.9K $24.07/SF
− OpEx
−$18.3K −$7.22/SF
NOI
$42.6K $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%
$852,420
Cap Rate 7%
$608,871
Cap Rate 9%
$473,567
Alternative Uses
Best Use
Multifamily LT 5
$608.9K
$532.8K – $710.4K
NOI $42,621 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$549.6K
$480.9K – $641.2K
NOI $38,472 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,843 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,218
Businesses Nearby
Explore this area
Business Placement
Demographics for 01930, MA
29,729
Population
14,630
Households
2
Avg Household Size
50
Median Age
39%
College-Educated
94%
High-School Grad
26.2 sq mi
ZIP Area
1,135
Density / Sq Mi
$87,898
Median Household Income
$49,580
Median Earnings
$1,395
Median Rent
$587,800
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 - Two units include decks, fenced yards, and separate laundry facilities.
Where is this duplex located?
The property is located at 1 Granite Court Gloucester, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,530 SF of building area; Townhouse‑style residences with expansive primary bedrooms; Deck access and private fenced‑in backyards for both units
