Renovated 6-Unit Apartment
New
For Sale
$1,300,000
123-125 Cedar St, Haverhill, MA 00497
Haverhill multifamily property with extensively renovated residential space under Res zoning.
Property Size5,601 SF
Price / SF$232.10
Days on Market2
Property Features for 123-125 Cedar St
General Information
Standard status
Active
Size
5,601 SF
Property subtype
Residential Income
Zoning
Res
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$8,700
Building Details
Building Size
5,601 SF
Year Built
1900
Year Renovated
2023
Stories
3
Units
6
Listing Agency:
Profile Realty, Inc.
(978) 420-7336
Listed By:
Ana Maria Frias
(978) 420-7336
Source:
Alliancepartnersre
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:08AM
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 Profile Realty, Inc.
Investment Insights
Based on property information with market context.
This apartment property contains six residential units and approximately 5,601 square feet of living area. The building was extensively renovated in 2023, while its original construction dates to 1900.
Located in Haverhill, Massachusetts, the property carries Res zoning and is positioned at 123-125 Cedar St. The six-unit configuration provides a defined multifamily layout within an established residential building.
Located in Haverhill, Massachusetts, the property carries Res zoning and is positioned at 123-125 Cedar St. The six-unit configuration provides a defined multifamily layout within an established residential building.
Key Highlights
- Six‑unit apartment property
- Approximately 5,601 sq. ft. of living area
- Extensively renovated in 2023
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
$85,171
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
6.55%
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%
$1,703,420
$1.7M
Cap Rate 7%
$1,216,729
$1.2M
Cap Rate 9%
$946,344
$946.3K
Market Conditions
NOI Build-Up for 5,601 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
$161.3K $28.80/SF
− Vacancy
−$6.5K −$1.15/SF
EGI
$154.9K $27.65/SF
− OpEx
−$69.7K −$12.44/SF
NOI
$85.2K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,703,420
Cap Rate 7%
$1,216,729
Cap Rate 9%
$946,344
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.06M – $1.42M
NOI $85,171 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.32M
$2.90M – $3.87M
NOI $232,104 @ 7.0% cap · market cap 17.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,011
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Haverhill multifamily property with extensively renovated residential space under Res zoning.
Where is this apartment building located?
The property is located at 123-125 Cedar St Haverhill, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Six‑unit apartment property; Approximately 5,601 sq. ft. of living area; Extensively renovated in 2023
