Updated Duplex with Fenced
For Sale
$819,000
279 Osgood Street, North Andover, MA 01845
Tenant-occupied two-family home with updated systems, outdoor space, and off-street parking.
Property Size2,285 SF
Price / SF$358.42
Days on Market141
Property Features for 279 Osgood Street
General Information
Standard status
Active
Size
2,285 SF
Total Parking Spaces
6
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Net Operating Income
$60,000
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,035
Amenities
City/Town Sewer, Public
No, Yes, .00, Paved Drive, Paved Drive
No
2
Yes
3.0
3
3.00
Level
Building Details
Year Built
1900
Listing Agency:
Ralph M. Harvey III
(855) 456-4945
Listed By:
Ralph M Harvey III · License #1000492
(855) 456-4945
Source:
Compass
Added: Apr 13
Changed: Aug 31
Last Checked: Aug 31 at 2:03AM
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 Ralph M. Harvey III
Investment Insights
Based on property information with market context.
This tenant-occupied duplex contains 2,285 square feet and was built in 1900. Recent improvements include new electrical service, a high-efficiency gas heating system, appliances, roofing, gutters, a rear deck, and rebuilt chimneys with caps. The property also offers a fenced private yard and a large driveway sized for 5 to 6 vehicles.
Located on Osgood Street in North Andover, the home is less than a five-minute walk from the elementary and middle schools. Route 495 is nearby, and the Town Common is approximately a 10-minute walk away.
Located on Osgood Street in North Andover, the home is less than a five-minute walk from the elementary and middle schools. Route 495 is nearby, and the Town Common is approximately a 10-minute walk away.
Key Highlights
- 2,285‑square‑foot duplex with 2 family units
- Tenant‑occupied property with new electrical service and high‑efficiency gas heating
- New roof, gutters, appliances, rear deck, and rebuilt chimneys with caps
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,494
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$769,880
$769.9K
Cap Rate 7%
$549,914
$549.9K
Cap Rate 9%
$427,711
$427.7K
Market Conditions
NOI Build-Up for 2,285 SF
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.
Gross rent
$57.6K $25.20/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$55.0K $24.07/SF
− OpEx
−$16.5K −$7.22/SF
NOI
$38.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$769,880
Cap Rate 7%
$549,914
Cap Rate 9%
$427,711
Alternative Uses
Best Use
Multifamily LT 5
$549.9K
$481.2K – $641.6K
NOI $38,494 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$496.4K
$434.3K – $579.1K
NOI $34,747 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,690 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
387
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied two-family home with updated systems, outdoor space, and off-street parking.
Where is this duplex located?
The property is located at 279 Osgood Street North Andover, MA.
What is the asking price?
The asking price for this property is $819,000.
What are key features of this property?
This property features: 2,285‑square‑foot duplex with 2 family units; Tenant‑occupied property with new electrical service and high‑efficiency gas heating; New roof, gutters, appliances, rear deck, and rebuilt chimneys with caps
