Renovated Duplex with Separate
New
For Sale
$1,439,995
162 High St, Danvers, MA 01923
Two townhouse-style residences offer flexible layouts, upgraded finishes, private access, and substantial storage across the property.
Property Size3,890 SF
Days on Market3
Property Features for 162 High St
General Information
Standard status
Active
Size
3,890 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R1
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,999,999
Building Details
Building Size
3,890 SF
Year Built
1900
Buildings
1
Stories
3
Units
2
Listing Agency:
Lyv Realty
(781) 572-5966
Listed By:
Candice Pagliarulo Hodgson · License #448551563
(781) 572-5966
Source:
Janicemitchellre
Added: Aug 7
Changed: Aug 8
Last Checked: Aug 9 at 12:40PM
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 Lyv Realty
Investment Insights
Based on property information with market context.
This renovated duplex at 162 High St in Danvers, MA, includes two townhouse-style residences with independent entrances and layouts designed to function much like separate homes. Both units feature open living areas, fireplaces, custom wet bars with wine refrigerators, quartz kitchens, new appliances, and gas cooking. First-floor primary suites include tiled-shower baths, while upper levels provide two bedrooms, office or flex areas, full baths, and oversized walk-in laundry rooms.
Separate walk-up attics are climate controlled, and walk-in basements add substantial storage. The property also includes a large yard and ample parking. Major updates include a new roof, plumbing, electrical systems, and HVAC. Built in 1900 and zoned R1, the property is already arranged for a potential condominium conversion, with documentation in hand if pursued.
Separate walk-up attics are climate controlled, and walk-in basements add substantial storage. The property also includes a large yard and ample parking. Major updates include a new roof, plumbing, electrical systems, and HVAC. Built in 1900 and zoned R1, the property is already arranged for a potential condominium conversion, with documentation in hand if pursued.
Key Highlights
- Two townhouse‑style units with separated entrances
- Completely renovated with new roof, plumbing, electrical, and HVAC
- First‑floor primary suites with tiled‑shower baths
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
$65,532
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
4.55%
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%
$1,310,640
$1.3M
Cap Rate 7%
$936,171
$936.2K
Cap Rate 9%
$728,133
$728.1K
Market Conditions
NOI Build-Up for 3,890 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
$98.0K $25.20/SF
− Vacancy
−$4.4K −$1.13/SF
EGI
$93.6K $24.07/SF
− OpEx
−$28.1K −$7.22/SF
NOI
$65.5K $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%
$1,310,640
Cap Rate 7%
$936,171
Cap Rate 9%
$728,133
Alternative Uses
Best Use
Multifamily LT 5
$936.2K
$819.2K – $1.09M
NOI $65,532 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$845.0K
$739.4K – $985.9K
NOI $59,153 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$2.30M
$2.02M – $2.69M
NOI $161,201 @ 7.0% cap · market cap 11.19%
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
819
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 townhouse-style residences offer flexible layouts, upgraded finishes, private access, and substantial storage across the property.
Where is this duplex located?
The property is located at 162 High St Danvers, MA.
What is the asking price?
The asking price for this property is $1,439,995.
What are key features of this property?
This property features: Two townhouse‑style units with separated entrances; Completely renovated with new roof, plumbing, electrical, and HVAC; First‑floor primary suites with tiled‑shower baths
