Two-Family Duplex with Tandem
For Sale
$790,000
Pending
10 Highland Terrace, Marblehead, MA 01945
Well-maintained two-unit duplex with two bedrooms per unit, eat-in kitchens, hardwood floors, and a fenced patio.
Property Size2,010 SF
Days on Market71
Property Features for 10 Highland Terrace
General Information
Standard status
Pending
Size
2,010 SF
Total Parking Spaces
4
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
fenced backyard patio
garden area
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
RE/MAX Beacon
(781) 631-2330
Listed By:
Emily Gaffney
(617) 610-3212
Source:
Lockandkeyre
Added: Jun 30
Changed: Aug 8
Last Checked: Jul 23 at 1:57PM
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 RE/MAX Beacon
Investment Insights
Based on property information with market context.
This well-maintained two-family duplex offers two units, each featuring two bedrooms, a spacious eat-in kitchen, hardwood floors, and stainless steel appliances. The property includes a fenced backyard patio with decorative pavers and a garden area. Additional exterior improvements noted include newer windows, doors, and a newer roof, along with tandem parking for up to four cars.
The property is conveniently located near shopping, restaurants, and public transportation.
Each unit is designed for comfortable everyday living with the same functional layout elements throughout, including two-bedroom configurations and eat-in kitchen space. The outdoor patio and garden area provide an added residential amenity, while tandem parking supports off-street vehicle storage for residents.
The property is conveniently located near shopping, restaurants, and public transportation.
Each unit is designed for comfortable everyday living with the same functional layout elements throughout, including two-bedroom configurations and eat-in kitchen space. The outdoor patio and garden area provide an added residential amenity, while tandem parking supports off-street vehicle storage for residents.
Key Highlights
- Well‑maintained two‑family duplex built in 1930 with 2 bedrooms per unit
- Each unit features an eat‑in kitchen, hardwood floors, and stainless steel appliances
- Fenced backyard patio with decorative pavers and a garden area
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
$33,861
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
4.29%
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%
$677,220
$677.2K
Cap Rate 7%
$483,729
$483.7K
Cap Rate 9%
$376,233
$376.2K
Market Conditions
NOI Build-Up for 2,010 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
$50.7K $25.20/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$48.4K $24.07/SF
− OpEx
−$14.5K −$7.22/SF
NOI
$33.9K $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%
$677,220
Cap Rate 7%
$483,729
Cap Rate 9%
$376,233
Alternative Uses
Best Use
Multifamily LT 5
$483.7K
$423.3K – $564.4K
NOI $33,861 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$436.6K
$382.1K – $509.4K
NOI $30,565 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,294 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,276
Businesses Nearby
Explore this area
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
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 - Well-maintained two-unit duplex with two bedrooms per unit, eat-in kitchens, hardwood floors, and a fenced patio.
Where is this duplex located?
The property is located at 10 Highland Terrace Marblehead, MA.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Well‑maintained two‑family duplex built in 1930 with 2 bedrooms per unit; Each unit features an eat‑in kitchen, hardwood floors, and stainless steel appliances; Fenced backyard patio with decorative pavers and a garden area
