3-Unit Residential
New
For Sale
$1,199,000
13 Knowlton St, Beverly, MA 01915
Historic multifamily property with generous residential layouts and convenient access to downtown amenities and commuter rail.
Property Size3,328 SF
Price / SF$360.28
Days on Market6
Property Features for 13 Knowlton St
General Information
Standard status
Active
Size
3,328 SF
Property subtype
3 Family
Building Details
Building Size
3,328 SF
Year Built
1900
Listing Agency:
Herrick Lutts Realty Partners
(978) 927-1959
Listed By:
Mela Dieujuste
(413) 786-0584
Source:
Iverty
Added: Aug 19
Changed: Aug 24
Last Checked: Aug 23 at 6:02AM
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.
Built in 1900, this triplex comprises three residential units with a combined 9 bedrooms and 3 full bathrooms. The property offers spacious layouts across its three-family configuration and is located at 13 Knowlton St in Beverly, Massachusetts.
The setting provides access to Downtown Beverly, restaurants, shops, local amenities, and commuter rail service. Montserrat College of Art is also nearby. Walk Score is 96, characterized as Walker’s Paradise; Bike Score is 51, or Bikeable; and Transit Score is 36, indicating Some Transit.
The setting provides access to Downtown Beverly, restaurants, shops, local amenities, and commuter rail service. Montserrat College of Art is also nearby. Walk Score is 96, characterized as Walker’s Paradise; Bike Score is 51, or Bikeable; and Transit Score is 36, indicating Some Transit.
Key Highlights
- Three residential units in a triplex configuration
- 9 bedrooms and 3 full bathrooms
- Built in 1900
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
$56,064
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%
$1,121,280
$1.1M
Cap Rate 7%
$800,914
$800.9K
Cap Rate 9%
$622,933
$622.9K
Market Conditions
NOI Build-Up for 3,328 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
$83.9K $25.20/SF
− Vacancy
−$3.8K −$1.13/SF
EGI
$80.1K $24.07/SF
− OpEx
−$24.0K −$7.22/SF
NOI
$56.1K $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%
$1,121,280
Cap Rate 7%
$800,914
Cap Rate 9%
$622,933
Alternative Uses
Best Use
Multifamily LT 5
$800.9K
$700.8K – $934.4K
NOI $56,064 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$723.0K
$632.6K – $843.5K
NOI $50,607 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,911 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,926
Businesses Nearby
Explore this area
Business Placement
Demographics for 01915, MA
42,341
Population
17,318
Households
2.4
Avg Household Size
40
Median Age
51%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
2,982
Density / Sq Mi
$102,347
Median Household Income
$57,989
Median Earnings
$1,684
Median Rent
$619,600
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?
Triplex - Historic multifamily property with generous residential layouts and convenient access to downtown amenities and commuter rail.
Where is this triplex located?
The property is located at 13 Knowlton St Beverly, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Three residential units in a triplex configuration; 9 bedrooms and 3 full bathrooms; Built in 1900
