Customizable Residential
For Sale
$1,099,900
11 Washington Street, Ipswich, MA 01938
Buyers can select cabinetry, countertops, and flooring, with an elevator offered as an optional upgrade.
Property Size2,600 SF
Price / SF$423.04
Days on Market142
Property Features for 11 Washington Street
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Apartment
Amenities
Range
Dishwasher
Microwave
Refrigerator
Plumbed For Ice Maker
Central Air
1 Fireplace
Tile
Hardwood
Flooring - Stone/Ceramic Tile
Forced Air, Natural Gas
3.0 Stories
$0 Taxes
Public
Built in 2025
Building Details
Year Built
2025
Construction
town-home
Listing Agency:
J. Barrett & Company
(978) 922-3683
Listed By:
The Lopes Group
(508) 488-9892
Source:
Donahuere
Added: May 27
Changed: Oct 7
Last Checked: Oct 14 at 7:38PM
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.
The Phase 3 townhomes offer 2,400–2,600 square feet each, with customization available for cabinetry, countertops, and flooring. Elevator installation is an optional upgrade. The property record lists 2025 as the year built, and three units remain available.
The community is in Ipswich, minutes from Crane Beach and the historic Castle.
The community is in Ipswich, minutes from Crane Beach and the historic Castle.
Key Highlights
- 2,400–2,600 square feet per townhome
- Three Phase 3 units remain available
- Choose cabinetry, countertops, and flooring finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,537
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$790,740
$790.7K
Cap Rate 7%
$564,814
$564.8K
Cap Rate 9%
$439,300
$439.3K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$74.9K $28.80/SF
− Vacancy
−$3.0K −$1.15/SF
EGI
$71.9K $27.65/SF
− OpEx
−$32.3K −$12.44/SF
NOI
$39.5K $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%
$790,740
Cap Rate 7%
$564,814
Cap Rate 9%
$439,300
Alternative Uses
Best Use
Apartment 5plus
$564.8K
$494.2K – $659.0K
NOI $39,537 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,743 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
Explore this area
Business Placement
Demographics for 01938, MA
13,785
Population
6,270
Households
2.2
Avg Household Size
51
Median Age
57%
College-Educated
98%
High-School Grad
32.1 sq mi
ZIP Area
429
Density / Sq Mi
$124,405
Median Household Income
$62,161
Median Earnings
$1,525
Median Rent
$701,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Buyers can select cabinetry, countertops, and flooring, with an elevator offered as an optional upgrade.
Where is this residential income property located?
The property is located at 11 Washington Street Ipswich, MA.
What is the asking price?
The asking price for this property is $1,099,900.
What are key features of this property?
This property features: 2,400–2,600 square feet per townhome; Three Phase 3 units remain available; Choose cabinetry, countertops, and flooring finishes
