Duplex with Second-Floor
186 Washington Street, Gloucester, MA 01930
For Sale
New
$789,900
Two separate kitchens and full bathrooms support the building’s two-unit configuration.
Property Size2,575 SF
Price / SF$306.76
Days on Market3
Property Features for 186 Washington Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Interior Entry,Concrete,Unfinished
Hardwood
2
No
3
6
Public Record
2575
Other
Public
0.09
4
Paved Drive,Off Street
Rain Gutters
Stone
Building Details
Building Size
Year Built
Stories
Listing Agency:
Churchill Properties
Listed By:
Garett Webb
Source:
Popularproperties
Added: Nov 7
Last Checked: Nov 8 at 8:25AM
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 Churchill Properties
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Investment Insights
Based on property information with market context.
This 2,575-square-foot duplex contains two units, each with a kitchen, full bathroom and living area. The second-floor unit also has a sunroom. A third-floor attic contains multiple rooms and needs renovation; any future use or work is subject to due diligence regarding approvals and zoning. The building dates to 1900 and includes basement storage and off-street parking on a 0.09-acre parcel.
Located at 186 Washington Street in Gloucester, the property has access to downtown, the harbor, shops, restaurants and area beaches.
Located at 186 Washington Street in Gloucester, the property has access to downtown, the harbor, shops, restaurants and area beaches.
Key Highlights
- Two units, each with a kitchen, full bathroom and living area
- 2,575 square feet on a 0.09‑acre parcel
- Second‑floor unit includes a sunroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,379
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$867,580
$867.6K
Cap Rate 7%
$619,700
$619.7K
Cap Rate 9%
$481,989
$482.0K
Market Conditions
NOI Build-Up for 2,575 SF
Gross rent
$64.9K $25.20/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$62.0K $24.07/SF
− OpEx
−$18.6K −$7.22/SF
NOI
$43.4K $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 Rate 5%
$867,580
Cap Rate 7%
$619,700
Cap Rate 9%
$481,989
Alternative Uses
Best Use
Multifamily LT 5
$619.7K
$542.2K – $723.0K
NOI $43,379 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$559.4K
$489.5K – $652.6K
NOI $39,156 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,707 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
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Business Placement
Demographics for 01930, MA
29,729
Population
14,630
Households
2
Avg Household Size
50
Median Age
39%
College-Educated
94%
High-School Grad
26.2 sq mi
ZIP Area
1,135
Density / Sq Mi
$87,898
Median Household Income
$49,580
Median Earnings
$1,395
Median Rent
$587,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Essex County, MA
Properties on Market for Duplexes in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate kitchens and full bathrooms support the building’s two-unit configuration.
Where is this duplex located?
The property is located at 186 Washington Street Gloucester, MA.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: Two units, each with a kitchen, full bathroom and living area; 2,575 square feet on a 0.09‑acre parcel; Second‑floor unit includes a sunroom
