Updated Duplex with Separate
For Sale
$719,999
14 Central Court, Beverly, MA 01915
Two-family property near downtown amenities, public transportation, and the beach, with refreshed kitchens, bathrooms, and independent utilities.
Property Size1,854 SF
Price / SF$388.35
Days on Market66
Property Features for 14 Central Court
General Information
Standard status
Active
Size
1,854 SF
Property subtype
Multi-family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
yard
Building Details
Year Built
1890
Buildings
1
Listing Agency:
SmartHomes Realty
(617) 610-2811
Listed By:
Michael Goolkasian
(617) 696-6100
Source:
Kelleyrege
Added: Jun 20
Changed: Aug 23
Last Checked: Aug 23 at 2:26AM
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 SmartHomes Realty
Investment Insights
Based on property information with market context.
Built in 1890, this duplex offers two residential units with separate utilities and updated appliances and finishes in both kitchens and bathrooms. The property has been painted within the last few years, and the furnace was replaced in 2022. The water heater has also been replaced.
The home is located in downtown Beverly with access to public transportation and the beach. Outdoor features include a private yard and separate parking areas on both sides of the home. The second-floor unit is occupied by a tenant at will who has been in place for 5 years.
The home is located in downtown Beverly with access to public transportation and the beach. Outdoor features include a private yard and separate parking areas on both sides of the home. The second-floor unit is occupied by a tenant at will who has been in place for 5 years.
Key Highlights
- Duplex with two residential units and separate utilities
- Furnace replaced in 2022; water heater also replaced
- Updated appliances and cosmetic finishes in both kitchens and bathrooms
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
$31,233
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
4.34%
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%
$624,660
$624.7K
Cap Rate 7%
$446,186
$446.2K
Cap Rate 9%
$347,033
$347.0K
Market Conditions
NOI Build-Up for 1,854 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
$46.7K $25.20/SF
− Vacancy
−$2.1K −$1.13/SF
EGI
$44.6K $24.07/SF
− OpEx
−$13.4K −$7.22/SF
NOI
$31.2K $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%
$624,660
Cap Rate 7%
$446,186
Cap Rate 9%
$347,033
Alternative Uses
Best Use
Multifamily LT 5
$446.2K
$390.4K – $520.6K
NOI $31,233 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$402.8K
$352.4K – $469.9K
NOI $28,193 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.10M
$960.4K – $1.28M
NOI $76,829 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,086
Businesses Nearby
Explore this area
Business Placement
Demographics for 01915, MA
42,341
Population
17,318
Households
2.4
Avg Household Size
40
Median Age
51%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
2,982
Density / Sq Mi
$102,347
Median Household Income
$57,989
Median Earnings
$1,684
Median Rent
$619,600
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 - Two-family property near downtown amenities, public transportation, and the beach, with refreshed kitchens, bathrooms, and independent utilities.
Where is this duplex located?
The property is located at 14 Central Court Beverly, MA.
What is the asking price?
The asking price for this property is $719,999.
What are key features of this property?
This property features: Duplex with two residential units and separate utilities; Furnace replaced in 2022; water heater also replaced; Updated appliances and cosmetic finishes in both kitchens and bathrooms
