Two-Family
New
For Sale
$599,900
60 Franklin St, Haverhill, MA 01830
Built in 1900, the property includes parking and needs cosmetic updates.
Property Size2,903 SF
Days on Market2
Property Features for 60 Franklin St
General Information
Standard status
Active
Size
2,903 SF
Property subtype
Investment
Property Condition
Severity
Minor
Evidence
some cosmetic updates needed
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,985
Building Details
Building Size
2,903 SF
Year Built
1900
Stories
3
Units
2
Listing Agency:
(978) 857-8569
Listed By:
Michelle Draper Realty Team
(978) 857-8569
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 2:36AM
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 Michelle Draper Realty Team
Investment Insights
Based on property information with market context.
Located at 60 Franklin St in Haverhill, Massachusetts, this duplex presents a two-family residential layout with on-site parking. The property dates to 1900 and requires cosmetic updates, offering a defined renovation scope for a buyer evaluating the asset.
The location records a walk score of 74, classified as Very Walkable, along with a bike score of 47, classified as Somewhat Bikeable. A transit score of 42 indicates Some Transit. The two-family configuration provides separate residential accommodations within one property.
The location records a walk score of 74, classified as Very Walkable, along with a bike score of 47, classified as Somewhat Bikeable. A transit score of 42 indicates Some Transit. The two-family configuration provides separate residential accommodations within one property.
Key Highlights
- Two‑family residential layout
- Built in 1900
- On‑site parking
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
$48,905
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
8.15%
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%
$978,100
$978.1K
Cap Rate 7%
$698,643
$698.6K
Cap Rate 9%
$543,389
$543.4K
Market Conditions
NOI Build-Up for 2,903 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
$73.2K $25.20/SF
− Vacancy
−$3.3K −$1.13/SF
EGI
$69.9K $24.07/SF
− OpEx
−$21.0K −$7.22/SF
NOI
$48.9K $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%
$978,100
Cap Rate 7%
$698,643
Cap Rate 9%
$543,389
Alternative Uses
Best Use
Multifamily LT 5
$698.6K
$611.3K – $815.1K
NOI $48,905 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$630.6K
$551.8K – $735.7K
NOI $44,144 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$1.72M
$1.50M – $2.01M
NOI $120,300 @ 7.0% cap · market cap 20.05%
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
2,109
Businesses Nearby
Explore this area
Business Placement
Demographics for 01830, MA
27,553
Population
11,159
Households
2.5
Avg Household Size
41
Median Age
30%
College-Educated
89%
High-School Grad
13.9 sq mi
ZIP Area
1,982
Density / Sq Mi
$79,784
Median Household Income
$49,289
Median Earnings
$1,602
Median Rent
$436,400
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 - Built in 1900, the property includes parking and needs cosmetic updates.
Where is this duplex located?
The property is located at 60 Franklin St Haverhill, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑family residential layout; Built in 1900; On‑site parking
