Two Detached Homes Residential
173 Forest Street Methuen, MA 01844
173 Forest Street, Methuen, MA, 01844
$999,900
For Sale
$999,900
Two fully detached homes on a fenced lot with an inground pool, updated with modern heating/cooling and renovations.
Property Size3,242 SF
Price / SF$308.42
Days on Market52
Property Features for 173 Forest Street
General Information
- Standard status
- Active
- Size
- 3,242 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1915
Listing agency
Century 21 McLennan & Company
Listed by
Matthew McLennan
(617) 993-4639
Source
Flowrealty
Added: May 31 Updated: Jul 20 at 10:40PM Checked: Jul 21 at 8:34AM
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 McLennan & Company
Investment Insights
Based on property information with market context.
This residential income property features two completely detached single-family homes situated on a large, fully fenced lot, including an inground pool. The main home is a Colonial that underwent an extensive studs-out renovation in 2021 and includes hardwood flooring, granite countertops in the kitchen and baths, mini-split heating and cooling, and all-new windows installed in 2022.
A short walk away is a separate rear Ranch home with hardwood floors and efficient FHA by gas heating. The rear home also offers a large deck, providing outdoor space for everyday use.
The property is located minutes from Route 93 and near premier shopping and dining, with Marsh Grammar School also nearby.
A short walk away is a separate rear Ranch home with hardwood floors and efficient FHA by gas heating. The rear home also offers a large deck, providing outdoor space for everyday use.
The property is located minutes from Route 93 and near premier shopping and dining, with Marsh Grammar School also nearby.
Key Highlights
- Two fully detached single‑family homes on a fenced lot with an inground pool
- Main home: 1,700 sq ft Colonial built in 1915; studs‑out renovation in 2021
- Main home updates include hardwood floors, granite countertops, mini‑split heating/cooling, and all‑new windows (2022)
Local 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 | $81.7k | $25.20 |
| − Vacancy | −$3.7k | −$1.13 |
| EGI | $78.0k | $24.07 |
| − OpEx | −$23.4k | −$7.22 |
| NOI | $54.6k | $16.85 |
3,242 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$780.2K
$682.7K – $910.3K
NOI $54,615 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$704.3K
$616.2K – $821.7K
NOI $49,299 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,348 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two fully detached homes on a fenced lot with an inground pool, updated with modern heating/cooling and renovations.
Where is this duplex located?
The property is located at 173 Forest Street Methuen, MA.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Two fully detached single‑family homes on a fenced lot with an inground pool; Main home: 1,700 sq ft Colonial built in 1915; studs‑out renovation in 2021; Main home updates include hardwood floors, granite countertops, mini‑split heating/cooling, and all‑new windows (2022)
