Side-by-Side Duplex with Renovated
For Sale
$1,050,000
2-4 Brechin Ter, Andover, MA 01810
Side-by-side duplex with a new roof and Hardie siding, featuring a fully renovated 3-bed, 2-bath unit.
Property Size2,741 SF
Price / SF$383.07
Days on Market153
Property Features for 2-4 Brechin Ter
General Information
Standard status
Active
Size
2,741 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
SRA
Net Operating Income
$23,940
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,924
Building Details
Building Size
2,741 SF
Year Built
1907
Stories
4
Listing Agency:
Prestige Realty Experts Inc.
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 8
Changed: Sep 6
Last Checked: Sep 6 at 4:55AM
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 Prestige Realty Experts Inc.
Investment Insights
Based on property information with market context.
This side-by-side duplex at 2-4 Brechin Ter offers two separate residential units with updated exterior improvements. The property includes premium Hardie siding and a brand-new roof, supporting long-term, low-maintenance ownership.
One side has been transformed with a top-to-bottom renovation, providing a spacious 3-bedroom, 2-bath layout with a designer kitchen, modernized bathrooms, and fresh flooring. The second unit is configured as a 2-bedroom, 1-bath residence, designed to support independent occupancy.
Located in Andover, MA, this duplex is presented as a turn-key opportunity with major structural updates already completed and a distinct mix of unit layouts for flexible owner-occupant or rental use.
One side has been transformed with a top-to-bottom renovation, providing a spacious 3-bedroom, 2-bath layout with a designer kitchen, modernized bathrooms, and fresh flooring. The second unit is configured as a 2-bedroom, 1-bath residence, designed to support independent occupancy.
Located in Andover, MA, this duplex is presented as a turn-key opportunity with major structural updates already completed and a distinct mix of unit layouts for flexible owner-occupant or rental use.
Key Highlights
- Side‑by‑side duplex built in 1907 with exterior updates including a brand‑new roof and premium Hardie siding.
- Renovated unit offers a 3‑bed, 2‑bath layout with a designer kitchen, modernized bathrooms, and fresh flooring.
- Second unit features a 2‑bed, 1‑bath configuration for rental income or a private residence.
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
$46,175
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
4.40%
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%
$923,500
$923.5K
Cap Rate 7%
$659,643
$659.6K
Cap Rate 9%
$513,056
$513.1K
Market Conditions
NOI Build-Up for 2,741 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
$69.1K $25.20/SF
− Vacancy
−$3.1K −$1.13/SF
EGI
$66.0K $24.07/SF
− OpEx
−$19.8K −$7.22/SF
NOI
$46.2K $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%
$923,500
Cap Rate 7%
$659,643
Cap Rate 9%
$513,056
Alternative Uses
Best Use
Multifamily LT 5
$659.6K
$577.2K – $769.6K
NOI $46,175 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$595.4K
$521.0K – $694.7K
NOI $41,681 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,586 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,416
Businesses Nearby
Explore this area
Business Placement
Demographics for 01810, MA
35,621
Population
13,803
Households
2.6
Avg Household Size
43
Median Age
75%
College-Educated
97%
High-School Grad
30.5 sq mi
ZIP Area
1,168
Density / Sq Mi
$167,591
Median Household Income
$86,838
Median Earnings
$2,046
Median Rent
$813,800
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 - Side-by-side duplex with a new roof and Hardie siding, featuring a fully renovated 3-bed, 2-bath unit.
Where is this duplex located?
The property is located at 2-4 Brechin Ter Andover, MA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Side‑by‑side duplex built in 1907 with exterior updates including a brand‑new roof and premium Hardie siding.; Renovated unit offers a 3‑bed, 2‑bath layout with a designer kitchen, modernized bathrooms, and fresh flooring.; Second unit features a 2‑bed, 1‑bath configuration for rental income or a private residence.
