Three-Family Residential Income
261 School Street Groveland, MA 01834
261 School Street, Groveland, MA, 01834
$899,000
For Sale
$899,000
Well-maintained three-family with central AC in Unit 1 plus two separate 1-bedroom units.
Property Size3,654 SF
Price / SF$246.03
Days on Market59
Property Features for 261 School Street
General Information
- Standard status
- Active
- Size
- 3,654 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1945
Listing agency
Coldwell Banker Realty - Haverhill
(978) 372-8577
Listed by
Janine Callahan · License #9570792
(978) 372-8577
Source
Compass
Added: May 25 Updated: Jul 22 at 12:20PM Checked: Jul 22 at 12:20PM
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 Coldwell Banker Realty - Haverhill
Investment Insights
Based on property information with market context.
This well-maintained three-family property includes three separate residences with defined living layouts. Unit 1 features three bedrooms, two full bathrooms, and central A/C. Unit 2 offers one bedroom and one bathroom in a garden-style configuration. Unit 3 is a one-bedroom townhouse-style unit. Each unit is served by both gas and electric utilities, and the property is equipped with a 400 AMP electrical service.
The property is located at 261 School Street in Groveland, Massachusetts. Title V is listed as passing.
Offers are due Saturday 5/30 at 6:00pm, and the public open house scheduled for Sunday 5/31 has been cancelled.
The property is located at 261 School Street in Groveland, Massachusetts. Title V is listed as passing.
Offers are due Saturday 5/30 at 6:00pm, and the public open house scheduled for Sunday 5/31 has been cancelled.
Key Highlights
- Well‑maintained 3‑family property built in 1945
- Unit 1: 3 bedrooms, 2 full baths, and 2,254 SF with central AC
- Two additional units: Unit 2 is 1 bed/1 bath; Unit 3 is 1 bedroom (townhouse style)
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 | $92.1k | $25.20 |
| − Vacancy | −$4.1k | −$1.13 |
| EGI | $87.9k | $24.07 |
| − OpEx | −$26.4k | −$7.22 |
| NOI | $61.6k | $16.85 |
3,654 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$879.4K
$769.5K – $1.03M
NOI $61,556 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$793.8K
$694.6K – $926.1K
NOI $55,564 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,421 @ 7.0% cap · market cap 16.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-family with central AC in Unit 1 plus two separate 1-bedroom units.
Where is this triplex located?
The property is located at 261 School Street Groveland, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Well‑maintained 3‑family property built in 1945; Unit 1: 3 bedrooms, 2 full baths, and 2,254 SF with central AC; Two additional units: Unit 2 is 1 bed/1 bath; Unit 3 is 1 bedroom (townhouse style)
