Duplex with Separate
For Sale
$850,000
110 Marblehead Street, North Andover, MA 01845
Two distinct residences offer flexible layouts, outdoor amenities, and convenient access to downtown and regional commuter routes.
Property Size2,592 SF
Price / SF$327.93
Days on Market12
Property Features for 110 Marblehead Street
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Amenities
hardwood floors
pellet stove
central air conditioning
three season porch
solar panels
fenced-in yard
irrigation system
outdoor lighting
Building Details
Year Built
1910
Buildings
1
Listing Agency:
William Raveis R.E. & Home Services
Listed By:
The Lucci Witte Team
(508) 823-9400
Source:
Ballowhutchinsonrealestate
Added: Aug 1
Changed: Aug 9
Last Checked: Aug 11 at 9:50AM
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 William Raveis R.E. & Home Services
Investment Insights
Based on property information with market context.
This 2,592-square-foot duplex, built in 1910, includes two separately serviced residences. The first-floor apartment has two bedrooms, one full bathroom, hardwood flooring, a kitchen, living room, and family room. The upper residence occupies two levels and provides three bedrooms, two full bathrooms, hardwood floors, a kitchen, living room, family room, pellet stove, central air conditioning, and a three-season porch. An additional room may serve as an office, guest room, or fourth bedroom.
Exterior features include a fenced yard, irrigation system, outdoor lighting, and solar panels. The property is located at 110 Marblehead Street in North Andover, close to downtown and with access to Route 495, commuter routes, and tax-free New Hampshire.
Exterior features include a fenced yard, irrigation system, outdoor lighting, and solar panels. The property is located at 110 Marblehead Street in North Andover, close to downtown and with access to Route 495, commuter routes, and tax-free New Hampshire.
Key Highlights
- 2,592‑square‑foot duplex on a 1910‑built structure
- First‑floor unit offers 2 bedrooms and 1 full bath
- Two‑level second unit includes 3 bedrooms, 2 full baths, and an additional flexible room
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
$43,665
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
5.14%
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%
$873,300
$873.3K
Cap Rate 7%
$623,786
$623.8K
Cap Rate 9%
$485,167
$485.2K
Market Conditions
NOI Build-Up for 2,592 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
$65.3K $25.20/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$62.4K $24.07/SF
− OpEx
−$18.7K −$7.22/SF
NOI
$43.7K $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%
$873,300
Cap Rate 7%
$623,786
Cap Rate 9%
$485,167
Alternative Uses
Best Use
Multifamily LT 5
$623.8K
$545.8K – $727.8K
NOI $43,665 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$563.1K
$492.7K – $656.9K
NOI $39,415 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,412 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,477
Businesses Nearby
Explore this area
Business Placement
Demographics for 01845, MA
31,855
Population
12,010
Households
2.7
Avg Household Size
39
Median Age
61%
College-Educated
97%
High-School Grad
26.4 sq mi
ZIP Area
1,207
Density / Sq Mi
$134,319
Median Household Income
$64,592
Median Earnings
$2,113
Median Rent
$670,000
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 distinct residences offer flexible layouts, outdoor amenities, and convenient access to downtown and regional commuter routes.
Where is this duplex located?
The property is located at 110 Marblehead Street North Andover, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,592‑square‑foot duplex on a 1910‑built structure; First‑floor unit offers 2 bedrooms and 1 full bath; Two‑level second unit includes 3 bedrooms, 2 full baths, and an additional flexible room
