Three-Level Two-Family
For Sale
$449,900
Pending
55 Pilling Street, Haverhill, MA 01832
Two-family duplex with off-street parking for four cars, storage shed, yard, and decks on both bath floors.
Property Size2,008 SF
Days on Market33
Property Features for 55 Pilling Street
General Information
Standard status
Pending
Size
2,008 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Zoning
res
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,585
Amenities
storage shed
yard
Building Details
Building Size
2,008 SF
Year Built
1900
Stories
3
Units
2
Listing Agency:
McKeon / Corcoran Real Estate
(978) 273-8097
Listed By:
Robin R. McKeon
(978) 273-8097
Source:
Threehillsres
Added: Jul 24
Changed: Aug 23
Last Checked: Aug 23 at 10:28AM
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 McKeon / Corcoran Real Estate
Investment Insights
Based on property information with market context.
Centrally located two-family duplex in Haverhill, MA, offered for sale as a three-level property with separate living units. The first floor features four rooms with two bedrooms and one bath. The second floor also offers four rooms with two bedrooms and one bath. A third floor includes two finished rooms.
Decks are off the bath floors, and the exterior includes off-street parking for four cars, plus a storage shed and yard. WalkScore is 74 (very walkable), bikeScore is 47 (somewhat bikeable), and transitScore is 42 (some transit).
This estate sale property is being offered with an existing configuration that can suit investors or buyers looking to add their own vision.
Decks are off the bath floors, and the exterior includes off-street parking for four cars, plus a storage shed and yard. WalkScore is 74 (very walkable), bikeScore is 47 (somewhat bikeable), and transitScore is 42 (some transit).
This estate sale property is being offered with an existing configuration that can suit investors or buyers looking to add their own vision.
Key Highlights
- Two‑family duplex (estate sale) built in 1900 with decks on both bath floors.
- First floor: 4 rooms with 2 bedrooms and 1 bath.
- Second floor: 4 rooms with 2 bedrooms and 1 bath.
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
$33,827
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
7.52%
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%
$676,540
$676.5K
Cap Rate 7%
$483,243
$483.2K
Cap Rate 9%
$375,856
$375.9K
Market Conditions
NOI Build-Up for 2,008 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
$50.6K $25.20/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$48.3K $24.07/SF
− OpEx
−$14.5K −$7.22/SF
NOI
$33.8K $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%
$676,540
Cap Rate 7%
$483,243
Cap Rate 9%
$375,856
Alternative Uses
Best Use
Multifamily LT 5
$483.2K
$422.8K – $563.8K
NOI $33,827 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$436.2K
$381.7K – $508.9K
NOI $30,534 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,211 @ 7.0% cap · market cap 18.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,061
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 - Two-family duplex with off-street parking for four cars, storage shed, yard, and decks on both bath floors.
Where is this duplex located?
The property is located at 55 Pilling Street Haverhill, MA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two‑family duplex (estate sale) built in 1900 with decks on both bath floors.; First floor: 4 rooms with 2 bedrooms and 1 bath.; Second floor: 4 rooms with 2 bedrooms and 1 bath.
