Duplex with Finished Third
For Sale
$800,000
20 Annis Street, Methuen, MA 01844
Residential income property with separate electric and gas heating systems, enclosed porches, basement access, and a fenced yard.
Property Size2,641 SF
Price / SF$302.92
Days on Market161
Property Features for 20 Annis Street
General Information
Standard status
Active
Size
2,641 SF
Total Parking Spaces
7
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
RES
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,890
Amenities
enclosed porches
back yard
No
Wood, Tile, Vinyl, Varies, Hardwood, Other
Range, Refrigerator
3.0
Insulated Windows
Full, Walk Out, Interior Access, Concrete Floor
Pantry, Lead Certification Available, Bathroom with Shower Stall, Remodeled, Internet Available - Broadband, Floored Attic, Walk-Up Attic, Heated Attic, Bathroom With Tub & Shower, Living Room, Dining Room, Kitchen, Window AC
3
3.00
City View(s), Yes
Fenced/Enclosed, Fenced
Frame, Stone
Shingle
Level, Other
Balcony/Deck, Balcony, Garden, Other (See Remarks), Fenced Yard, Garden Area, Porch - Enclosed, Deck
Enclosed, Deck
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Francisco Cruz Real Estate
(978) 828-2889
Listed By:
Francisco Cruz · License #9051661
(978) 828-2889
Source:
Compass
Added: Mar 24
Changed: Aug 30
Last Checked: Aug 30 at 1:12PM
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 Francisco Cruz Real Estate
Investment Insights
Based on property information with market context.
This two-family residence at 20 Annis Street includes a handicap-accessible first-floor apartment with a ramp and shower, plus a finished third floor with a full bathroom. The property offers 2,641 square feet, enclosed porches, vinyl siding, vinyl windows, and a basement with high ceilings, concrete flooring, and separate interior and exterior access. Two independent circuit-breaker electrical systems and two separate gas baseboard heating systems support the apartments.
Exterior features include a one-car garage, five parking spaces, a fenced yard, garden areas, a deck, and a balcony. The home was built in 1900 and is zoned RES. The first-floor apartment is expected to be vacant at closing. The property is being sold as is, and the buyer will assume the solar panel contract.
Exterior features include a one-car garage, five parking spaces, a fenced yard, garden areas, a deck, and a balcony. The home was built in 1900 and is zoned RES. The first-floor apartment is expected to be vacant at closing. The property is being sold as is, and the buyer will assume the solar panel contract.
Key Highlights
- 2,641‑square‑foot two‑family residence at 20 Annis Street, Methuen, MA 01844
- Finished third floor with a full bathroom
- Handicap‑accessible first‑floor apartment with ramp and shower
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
$44,491
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
5.56%
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%
$889,820
$889.8K
Cap Rate 7%
$635,586
$635.6K
Cap Rate 9%
$494,344
$494.3K
Market Conditions
NOI Build-Up for 2,641 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
$66.6K $25.20/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$63.6K $24.07/SF
− OpEx
−$19.1K −$7.22/SF
NOI
$44.5K $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%
$889,820
Cap Rate 7%
$635,586
Cap Rate 9%
$494,344
Alternative Uses
Best Use
Multifamily LT 5
$635.6K
$556.1K – $741.5K
NOI $44,491 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$573.7K
$502.0K – $669.3K
NOI $40,160 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,442 @ 7.0% cap · market cap 13.68%
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
1,293
Businesses Nearby
Explore this area
Business Placement
Demographics for 01844, MA
52,970
Population
19,496
Households
2.7
Avg Household Size
42
Median Age
30%
College-Educated
89%
High-School Grad
22.1 sq mi
ZIP Area
2,397
Density / Sq Mi
$103,292
Median Household Income
$52,176
Median Earnings
$1,610
Median Rent
$471,900
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 - Residential income property with separate electric and gas heating systems, enclosed porches, basement access, and a fenced yard.
Where is this duplex located?
The property is located at 20 Annis Street Methuen, MA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 2,641‑square‑foot two‑family residence at 20 Annis Street, Methuen, MA 01844; Finished third floor with a full bathroom; Handicap‑accessible first‑floor apartment with ramp and shower
