Renovated Two-Unit
2 Grove St Haverhill, MA 01832
2 Grove St, Haverhill, MA, 01832
$699,000
For Sale
$699,000
Renovated, deleaded two-unit property with two updated apartments, hardwood and luxury vinyl plank flooring, and off-street parking.
Property Size2,563 SF
Price / SF$272.73
Days on Market12
Property Features for 2 Grove St
General Information
- Standard status
- Active
- Size
- 2,563 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1900
Listing Agency
EVO Real Estate Group, LLC
(978) 590-9921
Listed by
Brian Quijada
(978) 590-9921
Source
Lockandkeyre
Added: Jul 10 Updated: Jul 20 at 3:39 am Checked: Jul 20 at 3:39 am
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 EVO Real Estate Group, LLC
Investment Insights
Based on property information with market context.
Renovated, deleaded two-unit multifamily with both apartments updated and ready for occupancy. The first unit offers a 3-bedroom, 1-bath layout, while the second unit is configured as a 5-bedroom, 1-bath. Flooring includes hardwood and luxury vinyl plank, with fresh paint and stainless steel appliances. There is one driveway providing off-street parking. A new boiler supports the building, and the basement is dry and unfinished with shared laundry facilities for both units.
The property is located on Grove St in Haverhill, not far from Downtown Haverhill. It is listed as 0.5 miles from Haverhill Commuter Rail, and within the provided drive-time ranges of Newburyport, Downtown Boston, and Seabrook beach.
Each unit has been renovated and is described as generating $5,600 per month total in the seller’s remarks. The offering is currently presented as a 7.8% CAP, with first showings scheduled at the open house on 7/18 from 10am to 12pm.
The property is located on Grove St in Haverhill, not far from Downtown Haverhill. It is listed as 0.5 miles from Haverhill Commuter Rail, and within the provided drive-time ranges of Newburyport, Downtown Boston, and Seabrook beach.
Each unit has been renovated and is described as generating $5,600 per month total in the seller’s remarks. The offering is currently presented as a 7.8% CAP, with first showings scheduled at the open house on 7/18 from 10am to 12pm.
Key Highlights
- Renovated, deleaded 2‑unit multi‑family generating $5,600/month total rent
- Unit 1 features 3 beds, 1 bath with hardwood flooring and stainless steel appliances
- Unit 2 features 5 beds, 1 bath with hardwood flooring and stainless steel appliances
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.6k | $25.20 |
| − Vacancy | −$2.9k | −$1.13 |
| EGI | $61.7k | $24.07 |
| − OpEx | −$18.5k | −$7.22 |
| NOI | $43.2k | $16.85 |
2,563 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$616.8K
$539.7K – $719.6K
NOI $43,177 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$556.8K
$487.2K – $649.6K
NOI $38,974 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,210 @ 7.0% cap · market cap 15.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Acanthus Woodworking
General Contractor
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Renovated, deleaded two-unit property with two updated apartments, hardwood and luxury vinyl plank flooring, and off-street parking.
Where is this duplex located?
The property is located at 2 Grove St Haverhill, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Renovated, deleaded 2‑unit multi‑family generating $5,600/month total rent; Unit 1 features 3 beds, 1 bath with hardwood flooring and stainless steel appliances; Unit 2 features 5 beds, 1 bath with hardwood flooring and stainless steel appliances
