Updated Two-Duplex Multifamily
For Sale
$1,395,000
130 Pine St, Danvers, MA 01923
Two separate residential buildings offer updated apartments, in-unit laundry, stainless steel appliances, and off-street parking.
Property Size3,484 SF
Price / SF$400.40
Days on Market105
Property Features for 130 Pine St
General Information
Standard status
Active
Size
3,484 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
R1
Net Operating Income
$60,350
Units
Unit Mix
3 x 1BR/1BA, 1 x 2BR/1.5BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,261
Amenities
stainless steel appliances
in-unit washer and dryer
Building Details
Building Size
3,484 SF
Year Built
1900
Buildings
2
Stories
4
Listing Agency:
Coldwell Banker Realty - Boston
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 18
Changed: Aug 29
Last Checked: Aug 29 at 2:34PM
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 Coldwell Banker Realty - Boston
Investment Insights
Based on property information with market context.
This multifamily property includes two separate two-family homes on one lot, creating a four-unit residential configuration. The unit mix consists of three one-bedroom, one-bath apartments and one two-bedroom, one-and-a-half-bath apartment. The 3,484-square-foot property was built in 1900 and carries R1 zoning.
Each apartment has been updated with contemporary finishes, stainless steel appliances, and an in-unit washer and dryer. Off-street parking is also provided. The property is located at 130 Pine St in Danvers, Massachusetts, with access to local amenities and commuter routes.
Each apartment has been updated with contemporary finishes, stainless steel appliances, and an in-unit washer and dryer. Off-street parking is also provided. The property is located at 130 Pine St in Danvers, Massachusetts, with access to local amenities and commuter routes.
Key Highlights
- Four‑unit property with two separate two‑family homes on one lot
- Unit mix includes three 1‑bedroom, 1‑bath apartments and one 2‑bedroom, 1.5‑bath unit
- 3,484 square feet; 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
$58,692
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
4.21%
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%
$1,173,840
$1.2M
Cap Rate 7%
$838,457
$838.5K
Cap Rate 9%
$652,133
$652.1K
Market Conditions
NOI Build-Up for 3,484 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
$87.8K $25.20/SF
− Vacancy
−$4.0K −$1.13/SF
EGI
$83.8K $24.07/SF
− OpEx
−$25.2K −$7.22/SF
NOI
$58.7K $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%
$1,173,840
Cap Rate 7%
$838,457
Cap Rate 9%
$652,133
Alternative Uses
Best Use
Multifamily LT 5
$838.5K
$733.7K – $978.2K
NOI $58,692 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$756.8K
$662.2K – $883.0K
NOI $52,979 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$2.06M
$1.80M – $2.41M
NOI $144,376 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Explore this area
Business Placement
Demographics for 01923, MA
27,987
Population
11,405
Households
2.5
Avg Household Size
46
Median Age
47%
College-Educated
95%
High-School Grad
13.2 sq mi
ZIP Area
2,120
Density / Sq Mi
$117,072
Median Household Income
$59,916
Median Earnings
$2,004
Median Rent
$611,200
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 separate residential buildings offer updated apartments, in-unit laundry, stainless steel appliances, and off-street parking.
Where is this duplex located?
The property is located at 130 Pine St Danvers, MA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Four‑unit property with two separate two‑family homes on one lot; Unit mix includes three 1‑bedroom, 1‑bath apartments and one 2‑bedroom, 1.5‑bath unit; 3,484 square feet; built in 1900
