Two-Family Home with Screened
29-31 Argilla Road Ipswich, MA 01938
29-31 Argilla Road, Ipswich, MA, 01938
$995,000
For Sale
$995,000
Two separate units feature screened porches, wood floors, and updated roof and furnace.
Property Size2,747 SF
Price / SF$362.21
Days on Market80
Property Features for 29-31 Argilla Road
General Information
- Standard status
- Active
- Size
- 2,747 SF
- Property subtype
- Multi-family / 2 Family
Building Details
- Year Built
- 1910
Listing agency
Compass
(978) 314-8103
Listed by
Hackett & Glessner · License #9508367
(978) 314-8103
Source
Compass
Added: May 4 Updated: Jul 22 at 9:35AM Checked: Jul 22 at 9:35AM
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 Compass
Investment Insights
Based on property information with market context.
This two-family home offers a large, spacious first unit with attached two-car garage, wood floors throughout, and screened-in porches. The first unit also includes second-floor laundry, plus two bonus rooms on the third floor with mini-split climate control. Additional features include an outdoor shower and a flat backyard.
The second unit has a separate driveway and hardwood floors, along with a screened-in porch and in-unit washer/dryer.
Recent improvements include a new roof and furnace. The property is described as close to the historic town of Ipswich, MBTA access, and restaurants, with the beach at the end of the road.
The second unit has a separate driveway and hardwood floors, along with a screened-in porch and in-unit washer/dryer.
Recent improvements include a new roof and furnace. The property is described as close to the historic town of Ipswich, MBTA access, and restaurants, with the beach at the end of the road.
Key Highlights
- Two‑family home with two separate units (unit 29 and unit 31)
- Unit 29 features a 2‑car attached garage, wood floors, and screened porches with long pastoral views
- Unit 31 has a separate driveway, hardwood floors, and in‑unit washer/dryer plus a screened porch
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 | $69.2k | $25.20 |
| − Vacancy | −$3.1k | −$1.13 |
| EGI | $66.1k | $24.07 |
| − OpEx | −$19.8k | −$7.22 |
| NOI | $46.3k | $16.85 |
2,747 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$661.1K
$578.5K – $771.3K
NOI $46,277 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$596.7K
$522.2K – $696.2K
NOI $41,772 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,835 @ 7.0% cap · market cap 11.44%
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 separate units feature screened porches, wood floors, and updated roof and furnace.
Where is this duplex located?
The property is located at 29-31 Argilla Road Ipswich, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two‑family home with two separate units (unit 29 and unit 31); Unit 29 features a 2‑car attached garage, wood floors, and screened porches with long pastoral views; Unit 31 has a separate driveway, hardwood floors, and in‑unit washer/dryer plus a screened porch
