Victorian Two-Family Rehab
For Sale
$699,900
Pending
19 Buttonwoods Ave, Haverhill, MA 01830
Stately Victorian two-family house requiring total rehabilitation, with two 2-bedroom units and potential third-unit conversion.
Property Size3,232 SF
Days on Market67
Property Features for 19 Buttonwoods Ave
General Information
Standard status
Pending
Size
3,232 SF
Property subtype
2 Family - 2 Units Up/Down
Building Details
Year Built
1900
Listing Agency:
Berkshire Hathaway HomeServices Verani Realty Haverhill
Listed By:
Stephanie E. Mann
(978) 902-4546
Source:
Lockandkeyre
Added: Jul 1
Changed: Aug 8
Last Checked: Jul 23 at 5:28AM
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 Haverhill
Investment Insights
Based on property information with market context.
This stately Victorian two-family property is in need of total rehabilitation. The building currently offers 5-room, 2-bedroom units, with configuration that may be expanded to create up to three units by finishing the third floor (described as a 4-room space).
A turret room provides seasonal views of the Merrimack River. The property also includes plenty of off-street parking and sits on a large, level lot with established blueberry bushes and grape vines.
This is a long time, family-owned residence positioned for a buyer willing to undertake significant rehab, with the opportunity to reimagine the upper level into additional living space.
A turret room provides seasonal views of the Merrimack River. The property also includes plenty of off-street parking and sits on a large, level lot with established blueberry bushes and grape vines.
This is a long time, family-owned residence positioned for a buyer willing to undertake significant rehab, with the opportunity to reimagine the upper level into additional living space.
Key Highlights
- Stately Victorian two‑family home built in 1900, requiring total rehabilitation
- Two 2‑bedroom units plus potential to expand/convert to a third unit with 3rd‑floor rooms
- Seasonal Merrimack River views from the turret room
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
$54,447
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
7.78%
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%
$1,088,940
$1.1M
Cap Rate 7%
$777,814
$777.8K
Cap Rate 9%
$604,967
$605.0K
Market Conditions
NOI Build-Up for 3,232 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
$81.4K $25.20/SF
− Vacancy
−$3.7K −$1.13/SF
EGI
$77.8K $24.07/SF
− OpEx
−$23.3K −$7.22/SF
NOI
$54.4K $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 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%
$1,088,940
Cap Rate 7%
$777,814
Cap Rate 9%
$604,967
Alternative Uses
Best Use
Multifamily LT 5
$777.8K
$680.6K – $907.5K
NOI $54,447 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$702.1K
$614.3K – $819.1K
NOI $49,147 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,933 @ 7.0% cap · market cap 19.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
Explore this area
Business Placement
Demographics for 01830, MA
27,553
Population
11,159
Households
2.5
Avg Household Size
41
Median Age
30%
College-Educated
89%
High-School Grad
13.9 sq mi
ZIP Area
1,982
Density / Sq Mi
$79,784
Median Household Income
$49,289
Median Earnings
$1,602
Median Rent
$436,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Stately Victorian two-family house requiring total rehabilitation, with two 2-bedroom units and potential third-unit conversion.
Where is this duplex located?
The property is located at 19 Buttonwoods Ave Haverhill, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Stately Victorian two‑family home built in 1900, requiring total rehabilitation; Two 2‑bedroom units plus potential to expand/convert to a third unit with 3rd‑floor rooms; Seasonal Merrimack River views from the turret room
