Two-Family Residential Income
24 Fairview Ave Swampscott, MA 01907
24 Fairview Ave, Swampscott, MA, 01907
$999,000
For Sale
$999,000
Two-unit home with 2 bedrooms per unit, plus walk-up third-floor attic storage with semi-finished rooms.
Property Size1,872 SF
Lot Size0.23 Acres
Price / SF$533.65
Days on Market112
Property Features for 24 Fairview Ave
General Information
- Standard status
- Active
- Size
- 1,872 SF
- Lot size
- 0.23 Acres
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1910
Listing agency
RE/MAX 360
(978) 560-8500
Listed by
Katie DiVirgilio
Source
Reishomesearch
Added: Apr 2 Updated: Jul 21 at 3:27PM Checked: Jul 21 at 3:27PM
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 RE/MAX 360
Investment Insights
Based on property information with market context.
This two-family residence includes two units, each featuring two bedrooms, a bathroom, and a kitchen with pantry area. The home also has a front porch on the first floor and an enclosed front living area on the second floor. In addition, there is walk-up third-floor attic storage with approximately 252 square feet and two semi-finished rooms.
The property sits on nearly 10,000 square feet of land recorded on one deed, with separate water and sewer for the home and a separate adjacent lot hook-up set. The additional land of approximately 5,000 square feet is taxed and assessed separately. The property is currently occupied. Sellers indicate that any appliances and systems will be left as gifts, and buyers and agents should perform all due diligence.
The property sits on nearly 10,000 square feet of land recorded on one deed, with separate water and sewer for the home and a separate adjacent lot hook-up set. The additional land of approximately 5,000 square feet is taxed and assessed separately. The property is currently occupied. Sellers indicate that any appliances and systems will be left as gifts, and buyers and agents should perform all due diligence.
Key Highlights
- Two‑family home with about 1,872 SF living space (not including walk‑up third‑floor attic storage).
- Each unit includes 2 bedrooms, a bathroom, and a kitchen with pantry areas.
- Walk‑up third‑floor attic storage adds about 252 SF and includes 2 semi‑finished rooms.
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 | $47.2k | $25.20 |
| − Vacancy | −$2.1k | −$1.13 |
| EGI | $45.1k | $24.07 |
| − OpEx | −$13.5k | −$7.22 |
| NOI | $31.5k | $16.85 |
1,872 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$450.5K
$394.2K – $525.6K
NOI $31,536 @ 7.0% cap · market cap 3.16%
Second Best
Apartment 5plus
$406.7K
$355.8K – $474.4K
NOI $28,466 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.11M
$969.7K – $1.29M
NOI $77,575 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit home with 2 bedrooms per unit, plus walk-up third-floor attic storage with semi-finished rooms.
Where is this duplex located?
The property is located at 24 Fairview Ave Swampscott, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two‑family home with about 1,872 SF living space (not including walk‑up third‑floor attic storage).; Each unit includes 2 bedrooms, a bathroom, and a kitchen with pantry areas.; Walk‑up third‑floor attic storage adds about 252 SF and includes 2 semi‑finished rooms.
