Two-Family Residence with
308 Essex Street Beverly, MA 01915
308 Essex Street, Beverly, MA, 01915
$899,900
For Sale
$899,900
Charming circa-1900 two-family with barn/shop, fenced yard, and parking for multiple vehicles.
Property Size2,028 SF
Price / SF$443.74
Days on Market52
Property Features for 308 Essex Street
General Information
- Standard status
- Active
- Size
- 2,028 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1900
Listing agency
City Realty Group
(978) 578-5013
Listed by
Chris Bernier
(978) 578-5013
Source
Churchillprop
Added: Jun 2 Updated: Jul 23 at 2:03AM Checked: Jul 23 at 3:26AM
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 City Realty Group
Investment Insights
Based on property information with market context.
This circa-1900 two-family residence offers a total of 10 rooms and 5 bedrooms, with two fireplaces. The property also includes a barn/shop of approximately 1,000 SF with a large overhead door, plus a separate large storage room within the building footprint that could support a home occupation subject to approval. The seller notes the possibility of applying to the city for an additional accessory dwelling unit (ADU), pending approval.
A second detached building with a wood-burning stove adds flexibility for storage or covered gatherings. Outside, the lot is level and features a large patio and parking for approximately 10–15 cars. There is also a fenced private entry, yard, and parking area associated with a 4-room rental unit.
The home is described as being located in an area with easy access to major routes, commuter rail, and downtown shopping.
A second detached building with a wood-burning stove adds flexibility for storage or covered gatherings. Outside, the lot is level and features a large patio and parking for approximately 10–15 cars. There is also a fenced private entry, yard, and parking area associated with a 4-room rental unit.
The home is described as being located in an area with easy access to major routes, commuter rail, and downtown shopping.
Key Highlights
- Circa 1900 2‑family home with 10 rooms, 5 bedrooms, and 2 fireplaces
- Approx. 1,000 SF barn/shop with a large overhead door plus a separate large storage room
- Barn/shop storage room can be used for a home occupation or an additional ADU after city approval
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 | $51.1k | $25.20 |
| − Vacancy | −$2.3k | −$1.13 |
| EGI | $48.8k | $24.07 |
| − OpEx | −$14.6k | −$7.22 |
| NOI | $34.2k | $16.85 |
2,028 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Charming circa-1900 two-family with barn/shop, fenced yard, and parking for multiple vehicles.
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 2‑family home with 10 rooms, 5 bedrooms, and 2 fireplaces; Approx. 1,000 SF barn/shop with a large overhead door plus a separate large storage room; Barn/shop storage room can be used for a home occupation or an additional ADU after city approval
