Updated Three-Unit
For Sale
$849,999
Pending
16-18 Victor St, Haverhill, MA 01832
Three residential units combine updated interiors, original woodwork, porches, and dedicated paved parking.
Property Size3,621 SF
Days on Market11
Property Features for 16-18 Victor St
General Information
Standard status
Pending
Size
3,621 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Alexander Zedros, Harbor View Real Estate Corp
Listed By:
The Goodrich Team
(617) 398-4444
Source:
Goodrichboston
Added: Sep 15
Changed: Sep 24
Last Checked: Sep 24 at 9:49AM
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 Alexander Zedros, Harbor View Real Estate Corp
Investment Insights
Based on property information with market context.
This three-unit residential property in Haverhill includes approximately 3,621 square feet of living space. Each unit has 3 bedrooms and 1 bathroom, with refinished original hardwood floors and updates to the kitchens and bathrooms. Original woodwork adds period detail, while two porches per unit provide additional exterior space. Each unit also has two paved off-street parking spaces.
The first and third floors are vacant, and the second-floor occupant is a tenant-at-will. Built in 1900, the property offers a flexible unit configuration for an investor or an owner-occupant seeking a multi-unit residence.
The first and third floors are vacant, and the second-floor occupant is a tenant-at-will. Built in 1900, the property offers a flexible unit configuration for an investor or an owner-occupant seeking a multi-unit residence.
Key Highlights
- Three units, each with 3 bedrooms and 1 bathroom
- Approximately 3,621 square feet of living space
- Two paved off‑street parking spaces per unit
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
$61,000
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
7.18%
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%
$1,220,000
$1.2M
Cap Rate 7%
$871,429
$871.4K
Cap Rate 9%
$677,778
$677.8K
Market Conditions
NOI Build-Up for 3,621 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
$91.2K $25.20/SF
− Vacancy
−$4.1K −$1.13/SF
EGI
$87.1K $24.07/SF
− OpEx
−$26.1K −$7.22/SF
NOI
$61.0K $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%
$1,220,000
Cap Rate 7%
$871,429
Cap Rate 9%
$677,778
Alternative Uses
Best Use
Multifamily LT 5
$871.4K
$762.5K – $1.02M
NOI $61,000 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$786.6K
$688.3K – $917.7K
NOI $55,062 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$2.14M
$1.88M – $2.50M
NOI $150,053 @ 7.0% cap · market cap 17.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
914
Businesses Nearby
Explore this area
Business Placement
Demographics for 01832, MA
25,656
Population
10,735
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
11.4 sq mi
ZIP Area
2,251
Density / Sq Mi
$81,141
Median Household Income
$47,151
Median Earnings
$1,612
Median Rent
$410,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units combine updated interiors, original woodwork, porches, and dedicated paved parking.
Where is this triplex located?
The property is located at 16-18 Victor St Haverhill, MA.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: Three units, each with 3 bedrooms and 1 bathroom; Approximately 3,621 square feet of living space; Two paved off‑street parking spaces per unit
