Triplex with
For Sale
$700,000
16 Gilbert Avenue, Haverhill, MA 01832
Three residential units provide matching two-bedroom, one-bath layouts with flexible occupancy potential.
Property Size2,500 SF
Price / SF$280
Days on Market8
Property Features for 16 Gilbert Avenue
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi-family
Building Details
Year Built
1910
Listing Agency:
Berkshire Hathaway HomeServices Verani Realty
(603) 620-2668
Listed By:
Charlotte Marrocco-Mohler
(508) 823-9400
Source:
Ballowhutchinsonrealestate
Added: Aug 18
Changed: Aug 24
Last Checked: Aug 23 at 10:53AM
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 Berkshire Hathaway HomeServices Verani Realty
Investment Insights
Based on property information with market context.
Built in 1910, this triplex includes three residential units with consistent layouts of four rooms, two bedrooms, and one bathroom per unit. The property also features a one-car garage and off-street parking. Bright interior spaces and ample natural light are present throughout the three levels, supporting comfortable residential use.
Located in Haverhill, Massachusetts, the property is approximately a 12-minute walk from the Haverhill MBTA Commuter Rail station and offers access to Interstate 495. WalkScore is 56, BikeScore is 31, and TransitScore is 31. The configuration supports multi-generational living, rental use, or a combination of both.
Located in Haverhill, Massachusetts, the property is approximately a 12-minute walk from the Haverhill MBTA Commuter Rail station and offers access to Interstate 495. WalkScore is 56, BikeScore is 31, and TransitScore is 31. The configuration supports multi-generational living, rental use, or a combination of both.
Key Highlights
- Three‑unit residential property with four rooms, two bedrooms, and one bathroom in each unit
- One‑car garage plus off‑street parking
- Built in 1910
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
$42,116
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
6.02%
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%
$842,320
$842.3K
Cap Rate 7%
$601,657
$601.7K
Cap Rate 9%
$467,956
$468.0K
Market Conditions
NOI Build-Up for 2,500 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
$63.0K $25.20/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$60.2K $24.07/SF
− OpEx
−$18.0K −$7.22/SF
NOI
$42.1K $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%
$842,320
Cap Rate 7%
$601,657
Cap Rate 9%
$467,956
Alternative Uses
Best Use
Multifamily LT 5
$601.7K
$526.5K – $701.9K
NOI $42,116 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$543.1K
$475.2K – $633.6K
NOI $38,016 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$1.48M
$1.29M – $1.73M
NOI $103,599 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
991
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 - Three residential units provide matching two-bedroom, one-bath layouts with flexible occupancy potential.
Where is this triplex located?
The property is located at 16 Gilbert Avenue Haverhill, MA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Three‑unit residential property with four rooms, two bedrooms, and one bathroom in each unit; One‑car garage plus off‑street parking; Built in 1910
