Remodeled Duplex with Income
For Sale
$599,000
Pending
2 Marion St, Haverhill, MA 01832
Vacant, remodeled unit and tenant-occupied unit for sale.
Property Size2,859 SF
Lot Size0.06 Acres
Days on Market270
Property Features for 2 Marion St
General Information
Standard status
Pending
Size
2,859 SF
Lot size
0.06 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,476
Building Details
Building Size
2,859 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
(617) 913-3357
Listed By:
Sam Sasso
(617) 913-3357
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 12
Last Checked: Aug 25 at 8:15AM
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 Sam Sasso
Investment Insights
Based on property information with market context.
This property features a vacant, remodeled second-floor unit with three bedrooms, ready for immediate occupancy. The first floor is tenant-occupied with a lease. The second-floor unit includes updated windows, a remodeled bathroom, a large eat-in kitchen with a new refrigerator, newly finished hardwood floors, and fresh paint. The basement has a washer and dryer for both units, along with ample storage space. The attic offers the potential for finishing and adding bedrooms and living space to the second-floor unit. The first floor has a tenant with a lease paying $2015 monthly.
Key Highlights
- Remodeled 2nd‑floor unit with 3 bedrooms, move‑in ready.
- First‑floor tenant with existing lease provides immediate rental income.
- Large eat‑in kitchen with new refrigerator.
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
$48,163
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
8.04%
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%
$963,260
$963.3K
Cap Rate 7%
$688,043
$688.0K
Cap Rate 9%
$535,144
$535.1K
Market Conditions
NOI Build-Up for 2,859 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
$72.0K $25.20/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$68.8K $24.07/SF
− OpEx
−$20.6K −$7.22/SF
NOI
$48.2K $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%
$963,260
Cap Rate 7%
$688,043
Cap Rate 9%
$535,144
Alternative Uses
Best Use
Multifamily LT 5
$688.0K
$602.0K – $802.7K
NOI $48,163 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$621.1K
$543.4K – $724.6K
NOI $43,475 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,476 @ 7.0% cap · market cap 19.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
Explore this area
Business Placement
Demographics for 01832, MA
25,656
Population
10,735
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
11.4 sq mi
ZIP Area
2,251
Density / Sq Mi
$81,141
Median Household Income
$47,151
Median Earnings
$1,612
Median Rent
$410,300
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 - Vacant, remodeled unit and tenant-occupied unit for sale.
Where is this duplex located?
The property is located at 2 Marion St Haverhill, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Remodeled 2nd‑floor unit with 3 bedrooms, move‑in ready.; First‑floor tenant with existing lease provides immediate rental income.; Large eat‑in kitchen with new refrigerator.
