Danvers Two-Family
12 Chestnut St Danvers, MA 01923
12 Chestnut St, Danvers, MA, 01923
$919,900
For Sale
$919,900
Spacious two-family home in convenient location, ideal for investors.
Property Size2,273 SF
Price / SF$404.71
Days on Market101
Property Features for 12 Chestnut St
General Information
- Standard status
- Active
- Size
- 2,273 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1875
Listing agency
Herrick Lutts Realty Partners
(978) 927-1959
Listed by
Jordan Healy
(413) 717-0635
Source
Lockandkeyre
Added: Apr 13 Updated: Jul 10 at 1:13PM Checked: Jul 21 at 3:31AM
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 Herrick Lutts Realty Partners
Investment Insights
Based on property information with market context.
This two-family home is located in Danvers. The property is suitable for investors and owner-occupants. The first-floor unit features 2 bedrooms and 1 full bath, along with in-unit laundry. The upper unit spans two levels and includes 3 bedrooms and 2 full bathrooms. Both units are outfitted with stainless steel appliances and in-unit laundry. The property includes a one-car garage and four off-street parking spaces, with two designated spots per unit. The property offers rental income potential and is situated near shopping, dining, and major commuter routes. The property size is 2273 square feet.
Key Highlights
- Two‑family home ideal for investors or owner‑occupants.
- Both units feature in‑unit laundry and stainless steel appliances.
- Upper unit offers 3 bedrooms and 2 full bathrooms across two levels.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.3k | $25.20 |
| − Vacancy | −$2.6k | −$1.13 |
| EGI | $54.7k | $24.07 |
| − OpEx | −$16.4k | −$7.22 |
| NOI | $38.3k | $16.85 |
2,273 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$547.0K
$478.6K – $638.2K
NOI $38,291 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$493.8K
$432.1K – $576.1K
NOI $34,564 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,193 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Spacious two-family home in convenient location, ideal for investors.
Where is this duplex located?
The property is located at 12 Chestnut St Danvers, MA.
What is the asking price?
The asking price for this property is $919,900.
What are key features of this property?
This property features: Two‑family home ideal for investors or owner‑occupants.; Both units feature in‑unit laundry and stainless steel appliances.; Upper unit offers 3 bedrooms and 2 full bathrooms across two levels.
