Two-Unit Duplex with Off-Street
New
For Sale
$599,000
26 Franklin Street, Peabody, MA 01960
Both residences have in-unit laundry and gas heat, with a porch, backyard, and storage shed outdoors.
Property Size2,059 SF
Price / SF$290.92
Days on Market4
Property Features for 26 Franklin Street
General Information
Standard status
Active
Size
2,059 SF
Total Parking Spaces
4
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
In need of renovations and updates
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
gas heat
front porch
backyard
storage shed
off-street parking
Building Details
Year Built
1900
Listing Agency:
LAER Realty Partners
Listed By:
LeeAnne Trohon
Source:
Merryfoxrealty
Added: Oct 29
Changed: Oct 31
Last Checked: Oct 30 at 5:34PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,059-square-foot duplex, built in 1900, contains two residences. Each unit has its own laundry and gas heat. The property needs renovation and updates; the roof and siding are newer, and some windows have been replaced.
Outdoor features include a front porch, backyard, storage shed, and off-street parking for up to four vehicles. Downtown shopping and dining are nearby.
Outdoor features include a front porch, backyard, storage shed, and off-street parking for up to four vehicles. Downtown shopping and dining are nearby.
Key Highlights
- Two‑unit duplex totaling 2,059 square feet
- Built in 1900; renovation and updates needed
- In‑unit laundry and gas heat in each residence
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.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have in-unit laundry and gas heat, with a porch, backyard, and storage shed outdoors.
Where is this duplex located?
The property is located at 26 Franklin Street 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 duplex totaling 2,059 square feet; Built in 1900; renovation and updates needed; In‑unit laundry and gas heat in each residence
