Two-Family Residential Income
29 Argilla Road Ipswich, MA 01938
29 Argilla Road, Ipswich, MA, 01938
$995,000
Pending
For Sale
$995,000
Pending
Two-unit residential income property featuring screened porches, wood floors, and updated roof and furnace.
Property Size2,673 SF
Days on Market76
Property Features for 29 Argilla Road
General Information
- Standard status
- Pending
- Size
- 2,673 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing agency
Compass
(978) 314-8103
Listed by
Binni Hackett · License #9508367
(978) 314-8103
Source
Compass
Added: May 8 Updated: Jul 22 at 12:12PM Checked: Jul 22 at 12:12PM
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 residential income property includes a large and spacious unit (29) with an attached two-car garage. The home features screened-in porches, wood floors throughout, and a new roof and furnace. A second-floor laundry is included, along with two bonus rooms on the third floor with a mini split for climate control, plus an outdoor shower.
The second unit (31) has its own separate driveway and offers hardwood floors, a screened-in porch, and in-unit washer and dryer. The property also includes a flat back yard.
The home is described as being close to the historic town of Ipswich and MBTA access, with nearby restaurants and access to the beach depending on direction from the driveway.
The second unit (31) has its own separate driveway and offers hardwood floors, a screened-in porch, and in-unit washer and dryer. The property also includes a flat back yard.
The home is described as being close to the historic town of Ipswich and MBTA access, with nearby restaurants and access to the beach depending on direction from the driveway.
Key Highlights
- Two‑family home with 3 full baths and 1 half bath
- Year built 1910; wood floors throughout both units
- Large unit (29) with attached two‑car garage, screened porches, and a flat back yard
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 | $67.4k | $25.20 |
| − Vacancy | −$3.0k | −$1.13 |
| EGI | $64.3k | $24.07 |
| − OpEx | −$19.3k | −$7.22 |
| NOI | $45.0k | $16.85 |
2,673 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$643.3K
$562.9K – $750.5K
NOI $45,030 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$580.7K
$508.1K – $677.5K
NOI $40,647 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$1.58M
$1.38M – $1.85M
NOI $110,768 @ 7.0% cap · market cap 11.13%
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-unit residential income property featuring screened porches, wood floors, and updated roof and furnace.
Where is this duplex located?
The property is located at 29 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 3 full baths and 1 half bath; Year built 1910; wood floors throughout both units; Large unit (29) with attached two‑car garage, screened porches, and a flat back yard
