Two-Unit Property with Separate
For Sale
$649,900
22 Barker St, Methuen, MA 01844
Duplex offering distinct living spaces with convenient access to public transportation and major highways.
Property Size1,848 SF
Price / SF$351.68
Days on Market82
Property Features for 22 Barker St
General Information
Standard status
Active
Size
1,848 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
RG
Net Operating Income
$16,800
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,986
Building Details
Building Size
1,848 SF
Year Built
1895
Stories
2
Listing Agency:
ERA Key Realty Services- Spenc
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 11
Changed: Aug 31
Last Checked: Aug 31 at 2:02PM
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 ERA Key Realty Services- Spenc
Investment Insights
Based on property information with market context.
This duplex includes two separate residential units within an 1,848-square-foot property. Each unit has its own entrance, creating clearly divided living areas and added privacy between occupants. Built in 1895, the property is zoned RG and is configured for two-family residential use.
The property is located at 22 Barker St in Methuen, Massachusetts, with access to public transportation and major highways. Its layout supports an owner-occupant arrangement with rental income from the second unit, or use as a two-unit residential investment property.
The property is located at 22 Barker St in Methuen, Massachusetts, with access to public transportation and major highways. Its layout supports an owner-occupant arrangement with rental income from the second unit, or use as a two-unit residential investment property.
Key Highlights
- Two‑unit duplex configuration
- 1,848 square feet of property size
- Separate entrances for each unit
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
$31,132
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
4.79%
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%
$622,640
$622.6K
Cap Rate 7%
$444,743
$444.7K
Cap Rate 9%
$345,911
$345.9K
Market Conditions
NOI Build-Up for 1,848 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
$46.6K $25.20/SF
− Vacancy
−$2.1K −$1.13/SF
EGI
$44.5K $24.07/SF
− OpEx
−$13.3K −$7.22/SF
NOI
$31.1K $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%
$622,640
Cap Rate 7%
$444,743
Cap Rate 9%
$345,911
Alternative Uses
Best Use
Multifamily LT 5
$444.7K
$389.2K – $518.9K
NOI $31,132 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$401.4K
$351.3K – $468.4K
NOI $28,101 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$1.09M
$957.3K – $1.28M
NOI $76,581 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
734
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 - Duplex offering distinct living spaces with convenient access to public transportation and major highways.
Where is this duplex located?
The property is located at 22 Barker St Methuen, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,848 square feet of property size; Separate entrances for each unit
