Duplex with Finished
114 Central St, Peabody, MA 01960
For Sale
$1,025,000
Pending
Two three-bedroom apartments are complemented by finished basement rooms and an unfinished attic for storage.
Property Size3,884 SF
Days on Market19
Property Features for 114 Central St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Hadassah Homes, Inc.
Listed By:
Esther Summersett
Source:
Classifiedrealtygroup
Added: Oct 26
Changed: Nov 10
Last Checked: Nov 12 at 4:50AM
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 Hadassah Homes, Inc.
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Investment Insights
Based on property information with market context.
This 3,884-square-foot duplex in Peabody contains two apartments, each with three bedrooms and one bathroom. The finished basement adds five rooms, including two bedrooms and one bathroom; an unfinished attic provides storage. A roof was installed in 2021, and major appliances are included. The property occupies a 0.13-acre corner lot with paved off-street parking and is zoned BN.
Regional highway access, shopping, restaurants, and a mall are noted among the surrounding amenities.
Regional highway access, shopping, restaurants, and a mall are noted among the surrounding amenities.
Key Highlights
- 3,884‑square‑foot duplex with two three‑bedroom, one‑bathroom apartments
- Finished basement includes five rooms, with two bedrooms and one bathroom
- Roof installed in 2021; major appliances included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,431
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,308,620
$1.3M
Cap Rate 7%
$934,729
$934.7K
Cap Rate 9%
$727,011
$727.0K
Market Conditions
NOI Build-Up for 3,884 SF
Gross rent
$97.9K $25.20/SF
− Vacancy
−$4.4K −$1.13/SF
EGI
$93.5K $24.07/SF
− OpEx
−$28.0K −$7.22/SF
NOI
$65.4K $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 Rate 5%
$1,308,620
Cap Rate 7%
$934,729
Cap Rate 9%
$727,011
Alternative Uses
Best Use
Multifamily LT 5
$934.7K
$817.9K – $1.09M
NOI $65,431 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$843.7K
$738.3K – $984.4K
NOI $59,062 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $160,952 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Explore this area
Business Placement
Demographics for 01960, MA
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,385
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Essex County, MA
Properties on Market for Duplexes in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom apartments are complemented by finished basement rooms and an unfinished attic for storage.
Where is this duplex located?
The property is located at 114 Central St Peabody, MA.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: 3,884‑square‑foot duplex with two three‑bedroom, one‑bathroom apartments; Finished basement includes five rooms, with two bedrooms and one bathroom; Roof installed in 2021; major appliances included
