Three-Unit Multifamily
For Sale
$710,000
15 Broadway, Haverhill, MA 01832
Each residence includes three bedrooms, one bathroom, and strong natural light.
Property Size3,687 SF
Price / SF$192.57
Days on Market112
Property Features for 15 Broadway
General Information
Standard status
Active
Size
3,687 SF
Property subtype
Multi-family
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Building Details
Year Built
1920
Buildings
1
Listing Agency:
LAER Realty Partners
(857) 400-6097
Listed By:
Elena Cristina Marchis
(617) 696-6100
Source:
Kelleyrege
Added: May 12
Changed: Aug 30
Last Checked: Aug 31 at 7:29PM
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.
This 1920-built triplex contains three residential units, each configured with three bedrooms and one bathroom. The property offers 3,687 square feet overall, with natural light throughout the residences. Flooring has been updated in two units, while both the front and rear staircases have received fresh paint.
Located at 15 Broadway in Haverhill, the property is positioned near shopping, restaurants, and major routes. RH zoning supports the existing multifamily configuration. The three-unit layout provides a defined residential income property format, with consistent bedroom and bathroom counts across all units.
Located at 15 Broadway in Haverhill, the property is positioned near shopping, restaurants, and major routes. RH zoning supports the existing multifamily configuration. The three-unit layout provides a defined residential income property format, with consistent bedroom and bathroom counts across all units.
Key Highlights
- Three‑unit property with three bedrooms and one bathroom in each unit
- 3,687 square feet of total property size
- Built in 1920
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
$62,112
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
8.75%
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%
$1,242,240
$1.2M
Cap Rate 7%
$887,314
$887.3K
Cap Rate 9%
$690,133
$690.1K
Market Conditions
NOI Build-Up for 3,687 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
$92.9K $25.20/SF
− Vacancy
−$4.2K −$1.13/SF
EGI
$88.7K $24.07/SF
− OpEx
−$26.6K −$7.22/SF
NOI
$62.1K $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%
$1,242,240
Cap Rate 7%
$887,314
Cap Rate 9%
$690,133
Alternative Uses
Best Use
Multifamily LT 5
$887.3K
$776.4K – $1.04M
NOI $62,112 @ 7.0% cap · market cap 8.75%
Second Best
Apartment 5plus
$800.9K
$700.8K – $934.4K
NOI $56,066 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,788 @ 7.0% cap · market cap 21.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,219
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
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence includes three bedrooms, one bathroom, and strong natural light.
Where is this triplex located?
The property is located at 15 Broadway Haverhill, MA.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: Three‑unit property with three bedrooms and one bathroom in each unit; 3,687 square feet of total property size; Built in 1920
