Updated Triplex in North
For Sale
$995,000
114 Haverhill St, North Reading, MA 01864
Rare, updated three-family property near schools and amenities.
Property Size2,925 SF
Lot Size0.30 Acres
Days on Market265
Property Features for 114 Haverhill St
General Information
Standard status
Active
Size
2,925 SF
Lot size
0.30 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$8,257
Building Details
Building Size
2,925 SF
Year Built
1940
Stories
3
Units
3
Listing Agency:
(617) 271-7937
Listed By:
Shawn McEntee
(617) 271-7937
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 10
Last Checked: Aug 20 at 10:30AM
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 Shawn McEntee
Investment Insights
Based on property information with market context.
This updated three-family property is located in North Reading, near Ryers, Flint Library, and Ipswich River Park, and one block from four schools (Hilltop Nursery School, Batch Elementary, Middle, and High Schools). The property includes laundry for each unit and six off-street parking spaces. It features newer heating and hot water systems, and new windows on the second floor. A new septic system will be installed by the seller. The sale includes a second lot behind the home, measuring 17,100 square feet; this lot is not subdividable.
Key Highlights
- Rare 3‑family property in a highly desirable North Reading location, steps from key amenities.
- Includes a second, large 17,100 sq ft lot behind the home.
- Completely updated units with individual laundry for each.**
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
$61,894
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
6.22%
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%
$1,237,880
$1.2M
Cap Rate 7%
$884,200
$884.2K
Cap Rate 9%
$687,711
$687.7K
Market Conditions
NOI Build-Up for 2,925 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
$93.0K $31.80/SF
− Vacancy
−$4.6K −$1.57/SF
EGI
$88.4K $30.23/SF
− OpEx
−$26.5K −$9.07/SF
NOI
$61.9K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,237,880
Cap Rate 7%
$884,200
Cap Rate 9%
$687,711
Alternative Uses
Best Use
Multifamily LT 5
$884.2K
$773.7K – $1.03M
NOI $61,894 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$831.4K
$727.5K – $970.0K
NOI $58,198 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,211 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 01864, MA
15,554
Population
5,920
Households
2.6
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
13.2 sq mi
ZIP Area
1,178
Density / Sq Mi
$150,820
Median Household Income
$70,981
Median Earnings
$2,253
Median Rent
$680,000
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?
Triplex - Rare, updated three-family property near schools and amenities.
Where is this triplex located?
The property is located at 114 Haverhill St North Reading, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Rare 3‑family property in a highly desirable North Reading location, steps from key amenities.; Includes a second, large 17,100 sq ft lot behind the home.; Completely updated units with individual laundry for each.**
