End-Unit Residential Income
New
For Sale
$549,900
172 Haverhill St, Andover, MA 01810
Two-bedroom condominium with an open living area, private balcony, and primary suite with private bath.
Property Size1,465 SF
Price / SF$375.36
Days on Market7
Property Features for 172 Haverhill St
General Information
Standard status
Active
Size
1,465 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
balcony
Range
Dishwasher
Disposal
Trash Compactor
Refrigerator
Washer
Dryer
Central Air
Wood
Tile
Carpet
Forced Air, Natural Gas
1.0 Story
$6,316 Taxes
Public
Built in 2003
Building Details
Year Built
2003
Listing Agency:
Diamond Key Real Estate
(603) 382-7979
Listed By:
Sherry Bourque
Source:
Donahuere
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 30 at 12:54PM
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 Diamond Key Real Estate
Investment Insights
Based on property information with market context.
Built in 2003, this end-unit condominium provides 1,465 square feet with two bedrooms and two full bathrooms. The interior combines living and dining areas in an open arrangement with abundant natural light. A private balcony overlooks surrounding trees, adding outdoor space to the residence.
The kitchen includes substantial cabinet and counter space and connects directly with the main living areas. The primary suite includes a walk-in closet and a private bathroom with a soaking tub and double vanity. A second bedroom and full bathroom support guest accommodation, office use, or additional living space. The property is located at 172 Haverhill St in Andover, Massachusetts.
The kitchen includes substantial cabinet and counter space and connects directly with the main living areas. The primary suite includes a walk-in closet and a private bathroom with a soaking tub and double vanity. A second bedroom and full bathroom support guest accommodation, office use, or additional living space. The property is located at 172 Haverhill St in Andover, Massachusetts.
Key Highlights
- 1,465‑square‑foot end‑unit condominium
- Two bedrooms and two full bathrooms
- Private balcony overlooking surrounding trees
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
$22,277
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
4.05%
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%
$445,540
$445.5K
Cap Rate 7%
$318,243
$318.2K
Cap Rate 9%
$247,522
$247.5K
Market Conditions
NOI Build-Up for 1,465 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
$42.2K $28.80/SF
− Vacancy
−$1.7K −$1.15/SF
EGI
$40.5K $27.65/SF
− OpEx
−$18.2K −$12.44/SF
NOI
$22.3K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$445,540
Cap Rate 7%
$318,243
Cap Rate 9%
$247,522
Alternative Uses
Best Use
Apartment 5plus
$318.2K
$278.5K – $371.3K
NOI $22,277 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$867.3K
$758.9K – $1.01M
NOI $60,709 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
Explore this area
Business Placement
Demographics for 01810, MA
35,621
Population
13,803
Households
2.6
Avg Household Size
43
Median Age
75%
College-Educated
97%
High-School Grad
30.5 sq mi
ZIP Area
1,168
Density / Sq Mi
$167,591
Median Household Income
$86,838
Median Earnings
$2,046
Median Rent
$813,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with an open living area, private balcony, and primary suite with private bath.
Where is this residential income property located?
The property is located at 172 Haverhill St Andover, MA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 1,465‑square‑foot end‑unit condominium; Two bedrooms and two full bathrooms; Private balcony overlooking surrounding trees
