Two-Unit Duplex with Private
For Sale
$720,000
179-181 Oakland Avenue, Methuen, MA 01844
Multifamily property with separate decks, custom built-ins, paved parking, and flexible living arrangements across two units.
Property Size2,207 SF
Price / SF$326.23
Days on Market49
Property Features for 179-181 Oakland Avenue
General Information
Standard status
Active
Size
2,207 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
custom built ins
private decks
large windows
storage shed
walk-out basement
Building Details
Year Built
1908
Listing Agency:
Team Lillian Montalto, Lillian Montalto Signature Properties
(781) 605-8805
Listed By:
Linda Hayes · License #454000899
(781) 605-8805
Source:
Hayeshouseandhome
Added: Jul 13
Changed: Aug 30
Last Checked: Aug 26 at 12:39PM
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 Team Lillian Montalto, Lillian Montalto Signature Properties
Investment Insights
Based on property information with market context.
This 2,207-square-foot duplex, built in 1908, contains two residential units with a combined 10 rooms, 4 bedrooms, and 3 full baths. The first unit includes 4 rooms, 2 bedrooms, and 1 bath, along with a new stove. The second spans multiple levels and provides 6 rooms, 3 bedrooms, 2 full baths, a separate dining room, and a heated walk-up attic. Both units feature custom built-ins, large windows, and private decks. Building systems include efficient 3-zone gas heat with two new furnaces. A walk-out basement with interior access, storage shed, and paved parking for 4 cars add practical utility.
Located at 179-181 Oakland Avenue in Methuen, the property is approximately a tenth of a mile from the nearest bus stop, with access to major routes, shopping, and parks. The configuration supports both two-unit occupancy and owner-occupancy use, as reflected in the existing layout.
Located at 179-181 Oakland Avenue in Methuen, the property is approximately a tenth of a mile from the nearest bus stop, with access to major routes, shopping, and parks. The configuration supports both two-unit occupancy and owner-occupancy use, as reflected in the existing layout.
Key Highlights
- Two‑unit duplex totaling 2,207 square feet, with 10 rooms, 4 bedrooms, and 3 full baths
- Unit 2 includes 6 rooms, 3 bedrooms, 2 full baths, dining room, and heated walk‑up attic
- Unit 1 has 4 rooms, 2 bedrooms, 1 bath, and a new stove
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
$37,180
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
5.16%
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%
$743,600
$743.6K
Cap Rate 7%
$531,143
$531.1K
Cap Rate 9%
$413,111
$413.1K
Market Conditions
NOI Build-Up for 2,207 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
$55.6K $25.20/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$53.1K $24.07/SF
− OpEx
−$15.9K −$7.22/SF
NOI
$37.2K $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%
$743,600
Cap Rate 7%
$531,143
Cap Rate 9%
$413,111
Alternative Uses
Best Use
Multifamily LT 5
$531.1K
$464.8K – $619.7K
NOI $37,180 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$479.4K
$419.5K – $559.4K
NOI $33,561 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,458 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Explore this area
Business Placement
Demographics for 01844, MA
52,970
Population
19,496
Households
2.7
Avg Household Size
42
Median Age
30%
College-Educated
89%
High-School Grad
22.1 sq mi
ZIP Area
2,397
Density / Sq Mi
$103,292
Median Household Income
$52,176
Median Earnings
$1,610
Median Rent
$471,900
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?
Duplex - Multifamily property with separate decks, custom built-ins, paved parking, and flexible living arrangements across two units.
Where is this duplex located?
The property is located at 179-181 Oakland Avenue Methuen, MA.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,207 square feet, with 10 rooms, 4 bedrooms, and 3 full baths; Unit 2 includes 6 rooms, 3 bedrooms, 2 full baths, dining room, and heated walk‑up attic; Unit 1 has 4 rooms, 2 bedrooms, 1 bath, and a new stove
