Duplex with In-Unit
New
For Sale
$599,000
26 Franklin St, Peabody, MA 01960
Both residences have gas heat, with off-street parking available for as many as four vehicles.
Property Size2,059 SF
Price / SF$290.92
Days on Market1
Property Features for 26 Franklin St
General Information
Standard status
Active
Size
2,059 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
R4
Property Condition
Severity
Repairs Needed
Evidence
In need of renovations and updates
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,308
Amenities
in-unit laundry
gas heat
front porch
backyard
storage shed
Building Details
Building Size
2,059 SF
Year Built
1900
Stories
2
Listing Agency:
LAER Realty Partners
Listed By:
LeeAnne Trohon
Source:
Laerrealty
Added: Oct 30
Last Checked: Oct 30 at 3:18PM
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 LAER Realty Partners
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Investment Insights
Based on property information with market context.
Built in 1900, this 2,059-square-foot duplex contains two residences, each equipped with in-unit laundry and gas heat. The property also has a front porch, backyard, storage shed, and off-street parking for up to four vehicles. The roof and siding have been replaced more recently, and some windows have been updated. Renovation and other updates are needed; the building is zoned R4.
The property is at 26 Franklin St in Peabody, close to downtown shopping, dining, and local amenities.
The property is at 26 Franklin St in Peabody, close to downtown shopping, dining, and local amenities.
Key Highlights
- Two‑unit property with 2,059 SF, built in 1900
- R4 zoning
- Laundry inside each unit; gas heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,686
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,720
$693.7K
Cap Rate 7%
$495,514
$495.5K
Cap Rate 9%
$385,400
$385.4K
Market Conditions
NOI Build-Up for 2,059 SF
Gross rent
$51.9K $25.20/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$49.6K $24.07/SF
− OpEx
−$14.9K −$7.22/SF
NOI
$34.7K $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%
$693,720
Cap Rate 7%
$495,514
Cap Rate 9%
$385,400
Alternative Uses
Best Use
Multifamily LT 5
$495.5K
$433.6K – $578.1K
NOI $34,686 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$447.3K
$391.4K – $521.8K
NOI $31,310 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,324 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,240
Businesses Nearby
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Business Placement
Demographics for 01960, MA
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,385
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have gas heat, with off-street parking available for as many as four vehicles.
Where is this duplex located?
The property is located at 26 Franklin St Peabody, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑unit property with 2,059 SF, built in 1900; R4 zoning; Laundry inside each unit; gas heat
