Two-Unit Duplex with
New
For Sale
$1,170,000
30 East St, Ipswich, MA 01938
Both residences were renovated in 2022; one includes ductless mini-splits and a private deck.
Property Size2,269 SF
Days on Market3
Property Features for 30 East St
General Information
Standard status
Active
Size
2,269 SF
Total Parking Spaces
7
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,319
Building Details
Building Size
2,269 SF
Year Built
1708
Year Renovated
2022
Buildings
1
Listing Agency:
Compass
Listed By:
Hackett & Glessner Team
(978) 314-8103
Source:
Classifiedrealtygroup
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 24 at 2:10PM
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
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Investment Insights
Based on property information with market context.
This Ipswich duplex contains two separate residences, each renovated in 2022. The first unit spans three levels and combines wide pine flooring, exposed hand-hewn beams, a plank ceiling, and an original brick hearth with a kitchen, island, dining area, and two bedrooms. It also has a three-quarter bath with washer and dryer hookups, an en suite bath, and a bonus room. The second residence has a private entrance and deck, a living area with an original brick hearth, a separate dining or office space, and an upstairs bedroom with a bathroom and walk-in closet. Ductless mini-splits serve this unit.
Built in 1708, the property also includes a separate garage, off-street parking, and outdoor space. It is near the Ipswich River, downtown shops and restaurants, and area beaches and open spaces.
Built in 1708, the property also includes a separate garage, off-street parking, and outdoor space. It is near the Ipswich River, downtown shops and restaurants, and area beaches and open spaces.
Key Highlights
- Two separate residences, both renovated in 2022
- Three‑level first unit with two bedrooms, bonus room, and two baths
- Second unit has private entrance, deck, upstairs bedroom, and walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,224
Cap Rate
3.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$764,480
$764.5K
Cap Rate 7%
$546,057
$546.1K
Cap Rate 9%
$424,711
$424.7K
Market Conditions
NOI Build-Up for 2,269 SF
Gross rent
$57.2K $25.20/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$54.6K $24.07/SF
− OpEx
−$16.4K −$7.22/SF
NOI
$38.2K $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 Rate 5%
$764,480
Cap Rate 7%
$546,057
Cap Rate 9%
$424,711
Alternative Uses
Best Use
Multifamily LT 5
$546.1K
$477.8K – $637.1K
NOI $38,224 @ 7.0% cap · market cap 3.27%
Second Best
Apartment 5plus
$492.9K
$431.3K – $575.1K
NOI $34,503 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,027 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
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Business Placement
Demographics for 01938, MA
13,785
Population
6,270
Households
2.2
Avg Household Size
51
Median Age
57%
College-Educated
98%
High-School Grad
32.1 sq mi
ZIP Area
429
Density / Sq Mi
$124,405
Median Household Income
$62,161
Median Earnings
$1,525
Median Rent
$701,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences were renovated in 2022; one includes ductless mini-splits and a private deck.
Where is this duplex located?
The property is located at 30 East St Ipswich, MA.
What is the asking price?
The asking price for this property is $1,170,000.
What are key features of this property?
This property features: Two separate residences, both renovated in 2022; Three‑level first unit with two bedrooms, bonus room, and two baths; Second unit has private entrance, deck, upstairs bedroom, and walk‑in closet
