2-Unit Renovated
New
For Sale
$999,900
62-64 Hampshire St, Methuen, MA 01844
Separate utilities and off-street parking support the property's two-unit configuration.
Property Size3,976 SF
Price / SF$251.48
Days on Market4
Property Features for 62-64 Hampshire St
General Information
Standard status
Active
Size
3,976 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
RG
Net Operating Income
$25,200
Taxes and HOA fees
Annual Taxes
$9,650
Building Details
Building Size
3,976 SF
Year Built
1930
Stories
2
Listing Agency:
LAER Realty Partners
Listed By:
Melissa Kimball
Source:
Laerrealty
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 4:26AM
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 LAER Realty Partners
Investment Insights
Based on property information with market context.
Built in 1930 and renovated in 2017, this duplex contains 3,976 square feet across two apartments: one with three bedrooms and one with four. Each unit has two bathrooms, in-unit laundry, and central air. Kitchens include granite counters, stainless steel appliances, and center islands; original fireplaces, built-ins, and hardwood and tile flooring retain period details. The property also has a full basement with interior and exterior access, a walk-up attic, and separate utilities.
The 12,502-square-foot lot provides outdoor space and off-street parking. The property is zoned RG.
The 12,502-square-foot lot provides outdoor space and off-street parking. The property is zoned RG.
Key Highlights
- Two apartments: one 3‑bedroom unit and one 4‑bedroom unit
- 3,976 square feet; each unit has 2 bathrooms
- Renovated in 2017; originally built in 1930
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
$66,980
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
6.70%
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%
$1,339,600
$1.3M
Cap Rate 7%
$956,857
$956.9K
Cap Rate 9%
$744,222
$744.2K
Market Conditions
NOI Build-Up for 3,976 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
$100.2K $25.20/SF
− Vacancy
−$4.5K −$1.13/SF
EGI
$95.7K $24.07/SF
− OpEx
−$28.7K −$7.22/SF
NOI
$67.0K $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%
$1,339,600
Cap Rate 7%
$956,857
Cap Rate 9%
$744,222
Alternative Uses
Best Use
Multifamily LT 5
$956.9K
$837.3K – $1.12M
NOI $66,980 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$863.7K
$755.8K – $1.01M
NOI $60,461 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$2.35M
$2.06M – $2.75M
NOI $164,764 @ 7.0% cap · market cap 16.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
751
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
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 - Separate utilities and off-street parking support the property's two-unit configuration.
Where is this duplex located?
The property is located at 62-64 Hampshire St Methuen, MA.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Two apartments: one 3‑bedroom unit and one 4‑bedroom unit; 3,976 square feet; each unit has 2 bathrooms; Renovated in 2017; originally built in 1930
