Two-Unit Residential Income
For Sale
$725,000
Pending
24-26 Thompson Street, Amesbury, MA 01913
Two well-appointed units offer kitchens, multiple living and dining areas, and a shared outdoor space, plus basement storage.
Property Size2,012 SF
Days on Market88
Property Features for 24-26 Thompson Street
General Information
Standard status
Pending
Size
2,012 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Zoning
R8
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,773
Building Details
Building Size
2,012 SF
Year Built
1880
Stories
3
Units
2
Listing Agency:
Lamacchia Realty, Inc.
(978) 463-4322
Listed By:
Marc Ouellet · License #452001111
(978) 387-5608
Source:
Alliancepartnersre
Added: Jun 10
Changed: Aug 8
Last Checked: Jul 23 at 6:40AM
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 Lamacchia Realty, Inc.
Investment Insights
Based on property information with market context.
This two-unit residential income property features two distinct, well-appointed living spaces. The first unit includes a spacious kitchen and dining area opening to a side porch, along with a pantry closet, recessed lighting, and a full bath with a linen closet. Living and dining areas include bright recessed lighting, and the unit offers two bedrooms with ample closet storage.
The second unit begins with an entryway leading to a bright living room with recessed lighting. It includes a kitchen with hardwood flooring and a pantry, a dedicated dining room, two bedrooms with ample closet space, and a full bath with in-unit laundry.
Both units are complemented by a good-sized backyard, and the basement provides additional storage space.
The second unit begins with an entryway leading to a bright living room with recessed lighting. It includes a kitchen with hardwood flooring and a pantry, a dedicated dining room, two bedrooms with ample closet space, and a full bath with in-unit laundry.
Both units are complemented by a good-sized backyard, and the basement provides additional storage space.
Key Highlights
- Two‑unit multi‑family home built in 1880 with kitchens in both units
- Unit 1 features a spacious kitchen and dining area with side porch access, plus recessed lighting and a full bath with linen closet
- Unit 1 includes a living room and dining room, two bedrooms with closet storage, and a pantry closet
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
$33,895
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
4.68%
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%
$677,900
$677.9K
Cap Rate 7%
$484,214
$484.2K
Cap Rate 9%
$376,611
$376.6K
Market Conditions
NOI Build-Up for 2,012 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
$50.7K $25.20/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$48.4K $24.07/SF
− OpEx
−$14.5K −$7.22/SF
NOI
$33.9K $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%
$677,900
Cap Rate 7%
$484,214
Cap Rate 9%
$376,611
Alternative Uses
Best Use
Multifamily LT 5
$484.2K
$423.7K – $564.9K
NOI $33,895 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$437.1K
$382.4K – $509.9K
NOI $30,595 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,377 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Explore this area
Business Placement
Demographics for 01913, MA
17,366
Population
7,827
Households
2.2
Avg Household Size
44
Median Age
43%
College-Educated
95%
High-School Grad
12.3 sq mi
ZIP Area
1,412
Density / Sq Mi
$100,599
Median Household Income
$60,627
Median Earnings
$1,573
Median Rent
$475,400
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 - Two well-appointed units offer kitchens, multiple living and dining areas, and a shared outdoor space, plus basement storage.
Where is this duplex located?
The property is located at 24-26 Thompson Street Amesbury, MA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two‑unit multi‑family home built in 1880 with kitchens in both units; Unit 1 features a spacious kitchen and dining area with side porch access, plus recessed lighting and a full bath with linen closet; Unit 1 includes a living room and dining room, two bedrooms with closet storage, and a pantry closet
