Two-Family Duplex Requiring
For Sale
$675,000
19 Eastern Ave, Essex, MA 01929
Historic two-unit property near downtown Essex with separate living spaces and renovation needs.
Property Size2,392 SF
Price / SF$282.19
Days on Market46
Property Features for 19 Eastern Ave
General Information
Standard status
Active
Size
2,392 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
in need of repairs and updating
Additional Details
Multifamily Units
2
Building Details
Year Built
1830
Listing Agency:
Douglas Elliman Real Estate - The Sarkis Team
Listed By:
The Sarkis Team
(617) 875-4950
Source:
Gooddeedsrealtypartners
Added: Aug 21
Changed: Sep 27
Last Checked: Oct 4 at 1:44PM
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 Douglas Elliman Real Estate - The Sarkis Team
Investment Insights
Based on property information with market context.
Located at 19 Eastern Avenue in Essex, this two-family duplex contains 2,392 square feet and was built in 1830. Each unit has its own living area, creating a distinct two-unit configuration within the home.
The property requires repairs and updating, and its current condition does not support FHA financing. The location is near downtown Essex, with restaurants, shops, and other North Shore destinations nearby.
The property requires repairs and updating, and its current condition does not support FHA financing. The location is near downtown Essex, with restaurants, shops, and other North Shore destinations nearby.
Key Highlights
- Two‑family duplex with separate living spaces for each unit
- 2,392 square feet of building area
- Built in 1830
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,296
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$805,920
$805.9K
Cap Rate 7%
$575,657
$575.7K
Cap Rate 9%
$447,733
$447.7K
Market Conditions
NOI Build-Up for 2,392 SF
Gross rent
$60.3K $25.20/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$57.6K $24.07/SF
− OpEx
−$17.3K −$7.22/SF
NOI
$40.3K $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 Rate 5%
$805,920
Cap Rate 7%
$575,657
Cap Rate 9%
$447,733
Alternative Uses
Best Use
Multifamily LT 5
$575.7K
$503.7K – $671.6K
NOI $40,296 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$519.6K
$454.7K – $606.2K
NOI $36,374 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,124 @ 7.0% cap · market cap 14.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 01929, MA
3,618
Population
1,527
Households
2.4
Avg Household Size
45
Median Age
69%
College-Educated
96%
High-School Grad
13.9 sq mi
ZIP Area
260
Density / Sq Mi
$151,509
Median Household Income
$66,033
Median Earnings
$1,828
Median Rent
$828,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Historic two-unit property near downtown Essex with separate living spaces and renovation needs.
Where is this duplex located?
The property is located at 19 Eastern Ave Essex, MA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑family duplex with separate living spaces for each unit; 2,392 square feet of building area; Built in 1830
