De-Leaded 2-Unit
For Sale
$799,900
23-25 Glenwood Street, North Andover, MA 01845
Two matching residences offer hardwood floors, separate utilities, in-unit laundry hookups, and access to a large yard.
Property Size2,334 SF
Price / SF$342.72
Days on Market154
Property Features for 23-25 Glenwood Street
General Information
Standard status
Active
Size
2,334 SF
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
ready for some sweat equity
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Silver Key Homes Realty
Listed By:
Jesse Leigh Malzone-Curran
(339) 203-0482
Source:
Sredboston
Added: May 17
Changed: Oct 17
Last Checked: Oct 10 at 1:29AM
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 Silver Key Homes Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This de-leaded two-family property contains two residences with matching, flexible layouts. Each unit features original hardwood floors, large bedrooms, a spacious living area, an eat-in kitchen, and a dining room. Separate utilities and washer/dryer hookups are provided within the units. A dry walkout basement adds storage, while the third floor includes partially finished space currently used exclusively by the second-floor residence.
The first unit is scheduled for vacant delivery, and the second unit has an existing tenancy through 7/31/2027. Exterior improvements include vinyl siding and windows described as newer. The property also offers a large yard and is located in North Andover, Massachusetts. It was built in 1900 and carries R4 zoning.
The first unit is scheduled for vacant delivery, and the second unit has an existing tenancy through 7/31/2027. Exterior improvements include vinyl siding and windows described as newer. The property also offers a large yard and is located in North Andover, Massachusetts. It was built in 1900 and carries R4 zoning.
Key Highlights
- 2,334 SF de‑leaded two‑family property built in 1900
- Unit #1 is scheduled to be delivered vacant
- Unit #2 is leased through 7/31/2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,319
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$786,380
$786.4K
Cap Rate 7%
$561,700
$561.7K
Cap Rate 9%
$436,878
$436.9K
Market Conditions
NOI Build-Up for 2,334 SF
Gross rent
$58.8K $25.20/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$56.2K $24.07/SF
− OpEx
−$16.9K −$7.22/SF
NOI
$39.3K $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 Rate 5%
$786,380
Cap Rate 7%
$561,700
Cap Rate 9%
$436,878
Alternative Uses
Best Use
Multifamily LT 5
$561.7K
$491.5K – $655.3K
NOI $39,319 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$507.0K
$443.7K – $591.5K
NOI $35,492 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,720 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
Explore this area
Business Placement
Demographics for 01845, MA
31,855
Population
12,010
Households
2.7
Avg Household Size
39
Median Age
61%
College-Educated
97%
High-School Grad
26.4 sq mi
ZIP Area
1,207
Density / Sq Mi
$134,319
Median Household Income
$64,592
Median Earnings
$2,113
Median Rent
$670,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer hardwood floors, separate utilities, in-unit laundry hookups, and access to a large yard.
Where is this duplex located?
The property is located at 23-25 Glenwood Street North Andover, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 2,334 SF de‑leaded two‑family property built in 1900; Unit #1 is scheduled to be delivered vacant; Unit #2 is leased through 7/31/2027
