Updated Triplex with Detached
For Sale
$875,000
Pending
1-3 Hudson St, Methuen, MA 01844
Three-unit property with separate utilities, private outdoor space, and multiple recent improvements.
Property Size3,653 SF
Days on Market10
Property Features for 1-3 Hudson St
General Information
Standard status
Pending
Size
3,653 SF
Total Parking Spaces
8
Property subtype
Multifamily
Units
Unit Mix
2 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,812
Amenities
large private yard
off street parking
detached garage
in-unit laundry
hardwood flooring
window air conditioners
attic storage
basement storage
deck
Building Details
Building Size
3,653 SF
Year Built
1929
Buildings
1
Listing Agency:
Coldwell Banker Realty - Haverhill
Listed By:
The Fisichelli Team
(978) 994-6503
Source:
Classifiedrealtygroup
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 26 at 4:08AM
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 - Haverhill
Investment Insights
Based on property information with market context.
Built in 1929, this triplex includes two larger apartments with comparable layouts featuring living rooms, dining areas, kitchens, butler pantries, full bathrooms, and three bedrooms. The upper-level apartment provides a separate three-room, one-bedroom layout with a full bath. First-floor laundry, hardwood flooring, appliances, window air conditioners, attic storage, and basement storage add practical functionality across the property.
Recent improvements include gas hot water boilers serving the first and second floors, a heat pump mini-split on the third floor, double-insulated windows, updated decks, and newer garage doors. Each unit has separate utilities. The property also offers front and rear decks for the first and second floors, interior and exterior basement access, a private yard, off-street parking, and a detached two-car garage. Located at 1-3 Hudson St in Methuen, the property is near schools, highways, and shopping.
Recent improvements include gas hot water boilers serving the first and second floors, a heat pump mini-split on the third floor, double-insulated windows, updated decks, and newer garage doors. Each unit has separate utilities. The property also offers front and rear decks for the first and second floors, interior and exterior basement access, a private yard, off-street parking, and a detached two-car garage. Located at 1-3 Hudson St in Methuen, the property is near schools, highways, and shopping.
Key Highlights
- Triplex built in 1929 with two three‑bedroom units and one one‑bedroom unit
- Detached two‑car garage, private yard, and off‑street parking
- Separate utilities for all three units
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
$61,539
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
7.03%
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%
$1,230,780
$1.2M
Cap Rate 7%
$879,129
$879.1K
Cap Rate 9%
$683,767
$683.8K
Market Conditions
NOI Build-Up for 3,653 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
$92.1K $25.20/SF
− Vacancy
−$4.1K −$1.13/SF
EGI
$87.9K $24.07/SF
− OpEx
−$26.4K −$7.22/SF
NOI
$61.5K $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%
$1,230,780
Cap Rate 7%
$879,129
Cap Rate 9%
$683,767
Alternative Uses
Best Use
Multifamily LT 5
$879.1K
$769.2K – $1.03M
NOI $61,539 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$793.6K
$694.4K – $925.8K
NOI $55,549 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,379 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 01844, MA
52,970
Population
19,496
Households
2.7
Avg Household Size
42
Median Age
30%
College-Educated
89%
High-School Grad
22.1 sq mi
ZIP Area
2,397
Density / Sq Mi
$103,292
Median Household Income
$52,176
Median Earnings
$1,610
Median Rent
$471,900
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?
Triplex - Three-unit property with separate utilities, private outdoor space, and multiple recent improvements.
Where is this triplex located?
The property is located at 1-3 Hudson St Methuen, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Triplex built in 1929 with two three‑bedroom units and one one‑bedroom unit; Detached two‑car garage, private yard, and off‑street parking; Separate utilities for all three units
