Duplex with Separate
For Sale
$719,999
14 Central Ct, Beverly, MA 01915
Well-cared-for two-family in Beverly with updated kitchens and baths, separate utilities, and parking plus private yard space.
Property Size1,854 SF
Price / SF$388.35
Days on Market48
Property Features for 14 Central Ct
General Information
Standard status
Active
Size
1,854 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
RMD
Net Operating Income
$64,200
Taxes and HOA fees
Annual Taxes
$6,528
Building Details
Building Size
1,854 SF
Year Built
1890
Stories
3
Listing Agency:
Herion Karbunara
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jul 20
Changed: Sep 4
Last Checked: Sep 4 at 3:11AM
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 Herion Karbunara
Investment Insights
Based on property information with market context.
This two-family duplex has been well cared for and features updated appliances and cosmetics in both kitchens and bathrooms. The property was recently painted, and it offers separate utilities for each unit. Mechanical updates include a furnace replacement in 2022 and a replaced water heater.
At the time of listing, Unit 1 may be vacant, while the second floor is currently occupied by a tenant at will who has been in place for five years. The home also includes outdoor space with a yard for relaxation.
In addition to the yard, the property provides separate parking on both sides of the home, along with a small private yard area that can be used exclusively for each tenant. The location is described as downtown Beverly, with close proximity to public transportation and the beach.
At the time of listing, Unit 1 may be vacant, while the second floor is currently occupied by a tenant at will who has been in place for five years. The home also includes outdoor space with a yard for relaxation.
In addition to the yard, the property provides separate parking on both sides of the home, along with a small private yard area that can be used exclusively for each tenant. The location is described as downtown Beverly, with close proximity to public transportation and the beach.
Key Highlights
- Well‑cared‑for 2‑family home built in 1890 in downtown Beverly.
- Unit 2 is occupied by a tenant at will who has occupied for 5 years; Unit 1 may be vacant at time of listing.
- Updated appliances and cosmetics 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
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 - Well-cared-for two-family in Beverly with updated kitchens and baths, separate utilities, and parking plus private yard space.
Where is this duplex located?
The property is located at 14 Central Ct 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: Well‑cared‑for 2‑family home built in 1890 in downtown Beverly.; Unit 2 is occupied by a tenant at will who has occupied for 5 years; Unit 1 may be vacant at time of listing.; Updated appliances and cosmetics in both kitchens and bathrooms.
