Two-Family Residential Income
For Sale
$1,060,000
Pending
29 Harvey St, Everett, MA 02149
Turnkey two-unit home with renovated kitchens and baths, hardwood floors, and a finished lower level.
Property Size2,850 SF
Days on Market90
Property Features for 29 Harvey St
General Information
Standard status
Pending
Size
2,850 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Zoning
DD
Taxes and HOA fees
Annual Taxes
$9,241
Building Details
Building Size
2,850 SF
Year Built
1920
Stories
3
Units
2
Listing Agency:
Century 21 North East
(617) 389-1129
Listed By:
Mg Group
Source:
Housatonicrealestate
Added: Jun 11
Changed: Aug 8
Last Checked: Jul 23 at 6:24AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This well-maintained two-family property offers two units with 7 bedrooms total and 2 full baths. Both units have newer kitchens with custom cabinetry, stone countertops, and stainless steel appliances, along with updated baths, hardwood flooring, recessed lighting, and abundant natural light. Additional space is provided through a finished lower level that can support extra living space and flexibility for storage or extended-family use.
Exterior improvements include a freshly paved driveway and a detached garage. The property also includes outdoor space with a private patio and an area described as outside space with a bar and living room for seasonal enjoyment.
The basement is noted as having potential for an ADU.
Exterior improvements include a freshly paved driveway and a detached garage. The property also includes outdoor space with a private patio and an area described as outside space with a bar and living room for seasonal enjoyment.
The basement is noted as having potential for an ADU.
Key Highlights
- Turnkey 2‑family home built in 1920 with 7 bedrooms and 2 full baths
- Both units feature new kitchens with custom cabinetry, stone countertops, and stainless steel appliances
- Both units offer new baths, gleaming hardwood floors, and recessed lighting
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
$60,307
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
5.69%
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%
$1,206,140
$1.2M
Cap Rate 7%
$861,529
$861.5K
Cap Rate 9%
$670,078
$670.1K
Market Conditions
NOI Build-Up for 2,850 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
$90.6K $31.80/SF
− Vacancy
−$4.5K −$1.57/SF
EGI
$86.2K $30.23/SF
− OpEx
−$25.8K −$9.07/SF
NOI
$60.3K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,206,140
Cap Rate 7%
$861,529
Cap Rate 9%
$670,078
Alternative Uses
Best Use
Multifamily LT 5
$861.5K
$753.8K – $1.01M
NOI $60,307 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$810.1K
$708.8K – $945.1K
NOI $56,705 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,103 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,316
Businesses Nearby
Explore this area
Business Placement
Demographics for 02149, MA
49,075
Population
18,541
Households
2.6
Avg Household Size
35
Median Age
23%
College-Educated
80%
High-School Grad
3.4 sq mi
ZIP Area
14,434
Density / Sq Mi
$79,658
Median Household Income
$40,836
Median Earnings
$1,988
Median Rent
$605,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Turnkey two-unit home with renovated kitchens and baths, hardwood floors, and a finished lower level.
Where is this duplex located?
The property is located at 29 Harvey St Everett, MA.
What is the asking price?
The asking price for this property is $1,060,000.
What are key features of this property?
This property features: Turnkey 2‑family home built in 1920 with 7 bedrooms and 2 full baths; Both units feature new kitchens with custom cabinetry, stone countertops, and stainless steel appliances; Both units offer new baths, gleaming hardwood floors, and recessed lighting
