Duplex with Detached
For Sale
$399,900
Pending
19 Swampscott Ave, Peabody, MA 01961
Vacant two-family property requiring extensive rehabilitation and sold as-is.
Property Size1,485 SF
Days on Market79
Property Features for 19 Swampscott Ave
General Information
Standard status
Pending
Size
1,485 SF
Property subtype
2 Family - 2 Units Up/Down
Property Condition
Severity
Major Repairs Needed
Evidence
not structurally sound
Additional Details
Road Access
Yes
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Engel & Volkers By the Sea
(781) 420-1306
Listed By:
Alissa Phelan
(781) 420-1306
Source:
Lockandkeyre
Added: Jun 15
Changed: Aug 30
Last Checked: Aug 30 at 9:57PM
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 Engel & Volkers By the Sea
Investment Insights
Based on property information with market context.
This two-family duplex, built in 1920, contains 1,485 square feet and requires extensive rehabilitation. The property is being conveyed in its present condition and will be vacant and cleared of debris at closing. A detached garage is included, while the attic is not accessible and is excluded from the reported living area; it is described as offering approximately 500 additional square feet.
The property is located at 19 Swampscott Ave in Peabody, just off Washington Street and near Welch Elementary School. Entry is restricted to accompanied showings, and the structure requires extreme caution. Conventional financing is not expected to apply because of the condition; cash, a rehabilitation loan, or another non-conventional financing method is required. Buyers should independently verify condition, measurements, zoning, and any potential use, including possible garage conversion to an ADU subject to approvals.
The property is located at 19 Swampscott Ave in Peabody, just off Washington Street and near Welch Elementary School. Entry is restricted to accompanied showings, and the structure requires extreme caution. Conventional financing is not expected to apply because of the condition; cash, a rehabilitation loan, or another non-conventional financing method is required. Buyers should independently verify condition, measurements, zoning, and any potential use, including possible garage conversion to an ADU subject to approvals.
Key Highlights
- Two‑family duplex with 1,485 square feet
- Built in 1920 and requiring extensive rehabilitation
- Detached garage with possible ADU conversion, subject to approvals
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
$25,017
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
6.26%
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%
$500,340
$500.3K
Cap Rate 7%
$357,386
$357.4K
Cap Rate 9%
$277,967
$278.0K
Market Conditions
NOI Build-Up for 1,485 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
$37.4K $25.20/SF
− Vacancy
−$1.7K −$1.13/SF
EGI
$35.7K $24.07/SF
− OpEx
−$10.7K −$7.22/SF
NOI
$25.0K $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%
$500,340
Cap Rate 7%
$357,386
Cap Rate 9%
$277,967
Alternative Uses
Best Use
Multifamily LT 5
$357.4K
$312.7K – $417.0K
NOI $25,017 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$322.6K
$282.3K – $376.4K
NOI $22,582 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$879.1K
$769.2K – $1.03M
NOI $61,538 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Explore this area
Business Placement
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 - Vacant two-family property requiring extensive rehabilitation and sold as-is.
Where is this duplex located?
The property is located at 19 Swampscott Ave Peabody, MA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑family duplex with 1,485 square feet; Built in 1920 and requiring extensive rehabilitation; Detached garage with possible ADU conversion, subject to approvals
