Two-Family Home with Barn
308 Essex Street Beverly, MA 01915
308 Essex Street, Beverly, MA, 01915
$975,000
For Sale
$975,000
Circa 1900 two-family residence with two fireplaces, plus a barn/shop with a large overhead door and storage room.
Property Size2,028 SF
Price / SF$480.77
Days on Market67
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
J. Barrett & Company
Listed by
Joel E. Margolis
(508) 867-2800
Source
Miketoomeyrealestate
Added: May 18 Updated: Jul 22 at 2:37PM Checked: Jul 22 at 2:37PM
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
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
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 3.50%
Second Best
Apartment 5plus
$440.6K
$385.5K – $514.0K
NOI $30,839 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,040 @ 7.0% cap · market cap 8.62%
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 - 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 $975,000.
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
