Two-Family Home with Barn
For Sale
$899,900
Pending
308 Essex Street, Beverly, MA 01915
Circa 1900 two-family residence with two fireplaces, plus a barn/shop with a large overhead door and storage room.
Property Size2,028 SF
Days on Market152
Property Features for 308 Essex Street
General Information
Standard status
Pending
Size
2,028 SF
Total Parking Spaces
12
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
R15
Taxes and HOA fees
Annual Taxes
$8,486
Amenities
No
Vinyl, Carpet
Range, Refrigerator, Washer, Dryer, Dishwasher
2
Yes
Storm Door(s)
3.0
Insulated Windows, Screens
Electric Dryer Hookup, Washer Hookup
Full, Bulkhead, Concrete Floor
Wood Burning
Walk-Up Attic, Storage, Bathroom With Tub & Shower, Remodeled, Living Room, Kitchen, Window AC
1
2.50
3
Fenced
Frame
Shingle
Level
Shed(s), Barn/Stable
Rain Gutters, Garden, Fenced Yard, Screens, Barn/Stable, Garden Area, Patio
Bay, Harbor, Ocean, River
Patio
Building Details
Year Built
1900
Listing Agency:
J. Barrett & Company
Listed By:
Joel E. Margolis · License #66883
(978) 922-2700
Source:
Compass
Added: Jun 2
Changed: Oct 31
Last Checked: Oct 30 at 5:03PM
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 J. Barrett & Company
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Investment Insights
Based on property information with market context.
A circa 1900 two-family home offering 10 rooms and 5 bedrooms, featuring two fireplaces. The property includes an approximately 1,000 SF barn/shop with a large overhead door and a separate large storage room within the building footprint.
A second detached building with a wood-burning stove adds flexibility for covered family gatherings or storage. The home sits on a level lot with a huge patio and parking for 10–15 cars, along with a fenced private entry, yard, and parking for the 4-room rental unit. Located at 308 Essex Street in Beverly, MA, the property is described as having convenient access to major routes, commuter rail, and downtown shopping.
A second detached building with a wood-burning stove adds flexibility for covered family gatherings or storage. The home sits on a level lot with a huge patio and parking for 10–15 cars, along with a fenced private entry, yard, and parking for the 4-room rental unit. Located at 308 Essex Street in Beverly, MA, the property is described as having convenient access to major routes, commuter rail, and downtown shopping.
Key Highlights
- Circa 1900 two‑family residence with 10 rooms and 5 bedrooms, featuring 2 fireplaces
- Includes an approximately 1,000 SF barn/shop with a large overhead door and a separate large storage room
- Second detached building with a wood burning stove for covered gatherings or storage use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,164
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,280
$683.3K
Cap Rate 7%
$488,057
$488.1K
Cap Rate 9%
$379,600
$379.6K
Market Conditions
NOI Build-Up for 2,028 SF
Gross rent
$51.1K $25.20/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$48.8K $24.07/SF
− OpEx
−$14.6K −$7.22/SF
NOI
$34.2K $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%
$683,280
Cap Rate 7%
$488,057
Cap Rate 9%
$379,600
Alternative Uses
Best Use
Multifamily LT 5
$488.1K
$427.1K – $569.4K
NOI $34,164 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$440.6K
$385.5K – $514.0K
NOI $30,839 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,040 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
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Business Placement
Demographics for 01915, MA
42,341
Population
17,318
Households
2.4
Avg Household Size
40
Median Age
51%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
2,982
Density / Sq Mi
$102,347
Median Household Income
$57,989
Median Earnings
$1,684
Median Rent
$619,600
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 - Circa 1900 two-family residence with two fireplaces, plus a barn/shop with a large overhead door and storage room.
Where is this duplex located?
The property is located at 308 Essex Street Beverly, MA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Circa 1900 two‑family residence with 10 rooms and 5 bedrooms, featuring 2 fireplaces; Includes an approximately 1,000 SF barn/shop with a large overhead door and a separate large storage room; Second detached building with a wood burning stove for covered gatherings or storage use
