Two-Level Residential Income
For Sale
$549,000
1 Maverick St, Marblehead, MA 01945
Condominium layout includes wood floors, exposed beams, a wood-burning stove, and in-unit laundry.
Property Size1,800 SF
Price / SF$305
Days on Market209
Property Features for 1 Maverick St
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
wood floors
exposed beams
wood-burning stove
dining room
dedicated office space
granite countertops
in-unit laundry
Window Unit(s)
Baseboard, Natural Gas
2.0 Stories
$6,697 Taxes
Public
Built in 1920
Building Details
Year Built
1920
Listing Agency:
Sagan Harborside Sotheby's International Realty
(781) 593-6111
Listed By:
Haley Paster Scimone · License #454007797
(781) 367-5523
Source:
Donahuere
Added: Mar 31
Changed: Oct 14
Last Checked: Oct 24 at 1:28PM
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 Sagan Harborside Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This condominium occupies two levels of a 1920 two-family home and includes approximately 1,800 square feet, three bedrooms, and two bathrooms. A private entrance opens to a coat closet and staircase leading to the primary living areas. Interior features include wood flooring, exposed beams, a wood-burning stove, dining room, dedicated office, kitchen with granite countertops, full bathroom, and in-unit laundry.
The property is positioned in a downtown setting with shops, restaurants, beaches, a bike path, and commuter routes nearby. Its location and flexible residential configuration support use as an income property, second home, or personal residence, as described in the available property information.
The property is positioned in a downtown setting with shops, restaurants, beaches, a bike path, and commuter routes nearby. Its location and flexible residential configuration support use as an income property, second home, or personal residence, as described in the available property information.
Key Highlights
- Approximately 1,800 sq. ft. of living space across 2 levels
- 3‑bed, 2‑bath condominium in a 1920 two‑family home
- Private entry with coat closet and interior staircase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,372
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,440
$547.4K
Cap Rate 7%
$391,029
$391.0K
Cap Rate 9%
$304,133
$304.1K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$51.8K $28.80/SF
− Vacancy
−$2.1K −$1.15/SF
EGI
$49.8K $27.65/SF
− OpEx
−$22.4K −$12.44/SF
NOI
$27.4K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,440
Cap Rate 7%
$391,029
Cap Rate 9%
$304,133
Alternative Uses
Best Use
Apartment 5plus
$391.0K
$342.2K – $456.2K
NOI $27,372 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$932.4K – $1.24M
NOI $74,592 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,020
Businesses Nearby
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Business Placement
Demographics for 01945, MA
20,462
Population
8,899
Households
2.3
Avg Household Size
49
Median Age
77%
College-Educated
99%
High-School Grad
4.4 sq mi
ZIP Area
4,650
Density / Sq Mi
$164,325
Median Household Income
$83,539
Median Earnings
$1,769
Median Rent
$904,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium layout includes wood floors, exposed beams, a wood-burning stove, and in-unit laundry.
Where is this residential income property located?
The property is located at 1 Maverick St Marblehead, MA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Approximately 1,800 sq. ft. of living space across 2 levels; 3‑bed, 2‑bath condominium in a 1920 two‑family home; Private entry with coat closet and interior staircase
