Fully Renovated Two-Family
159-161 Howe Street Methuen, MA 01844
For Sale
$919,900
Pending
A fully renovated two-family residence offers ample off-street parking, a large lot, and separate unit configurations.
Property Size2,732 SF
Days on Market164
Property Features for 159-161 Howe Street
General Information
- Standard status
- Pending
- Size
- 2,732 SF
- Property subtype
- Multi-family / 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1900
Listing Agency:
Century 21 North East
(978) 208-0449
Listed By:
Jason Martinez · License #9560242
(978) 208-0449
Source:
Compass
Added: Feb 9
Changed: Jul 22
Last Checked: Jul 22 at 11:44PM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This fully renovated two-family home was rebuilt down to the studs within the last five years, with updates described throughout. Improvements include new kitchens, new bathrooms, new plumbing, new electrical, newer flooring, and modern finishes. The layout provides Unit 1 with two bedrooms and a full bath, including a spacious primary bedroom with a large walk-in closet. Unit 2 offers four bedrooms and two full baths.
The property is set on over half an acre and includes ample off-street parking and a storage shed. It is conveniently located next to Howe St Superette.
At the time of sale, occupants are TAW, with one unit scheduled to be delivered vacant at closing. The remaining details provided support an owner-occupant or investor use case depending on the delivered unit configuration.
The property is set on over half an acre and includes ample off-street parking and a storage shed. It is conveniently located next to Howe St Superette.
At the time of sale, occupants are TAW, with one unit scheduled to be delivered vacant at closing. The remaining details provided support an owner-occupant or investor use case depending on the delivered unit configuration.
Key Highlights
- Fully renovated two‑family home rebuilt down to the studs within the last five years
- Updates include new kitchens and bathrooms, new plumbing and electrical, newer flooring, and modern finishes throughout
- Unit 1: 2 beds and 1 full bath with a spacious primary bedroom and large walk‑in closet
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.8k | $25.20 |
| − Vacancy | −$3.1k | −$1.13 |
| EGI | $65.7k | $24.07 |
| − OpEx | −$19.7k | −$7.22 |
| NOI | $46.0k | $16.85 |
2,732 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$657.5K
$575.3K – $767.1K
NOI $46,024 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$593.5K
$519.3K – $692.4K
NOI $41,544 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,213 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - A fully renovated two-family residence offers ample off-street parking, a large lot, and separate unit configurations.
Where is this duplex located?
The property is located at 159-161 Howe Street Methuen, MA.
What is the asking price?
The asking price for this property is $919,900.
What are key features of this property?
This property features: Fully renovated two‑family home rebuilt down to the studs within the last five years; Updates include new kitchens and bathrooms, new plumbing and electrical, newer flooring, and modern finishes throughout; Unit 1: 2 beds and 1 full bath with a spacious primary bedroom and large walk‑in closet
