Duplex with Carriage
New
For Sale
$790,000
33 Highland Avenue, Haverhill, MA 01830
Two apartments include separate utilities and appliances, with additional storage in the attic, basement, and garage.
Property Size3,117 SF
Price / SF$253.45
Days on Market6
Property Features for 33 Highland Avenue
General Information
Standard status
Active
Size
3,117 SF
Total Parking Spaces
3
Property subtype
Multi-family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Diamond Key Real Estate
Listed By:
Edward Mahoney
(617) 846-8000
Source:
Highlandre
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 8:47AM
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 Diamond Key Real Estate
Investment Insights
Based on property information with market context.
This 3,117-square-foot duplex contains two apartments, each with updated kitchens and bathrooms. The first-floor unit has five rooms and two to three bedrooms; the second-floor unit has six rooms and three to four bedrooms. Interior details include French doors, hardwood and parquet floors, window bays, a built-in china cabinet, and crown molding. A full walk-up attic and full basement add storage space, while separate utilities and included appliances serve the two-unit property.
A carriage house/garage provides three bays and a second-floor storage area. The property also includes a yard with mature plantings.
A carriage house/garage provides three bays and a second-floor storage area. The property also includes a yard with mature plantings.
Key Highlights
- 3,117‑square‑foot duplex with two apartments
- First‑floor unit: 5 rooms and 2‑3 bedrooms; second‑floor unit: 6 rooms and 3‑4 bedrooms
- Carriage house/garage with 3 bays and second‑floor storage
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
$52,510
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
6.65%
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%
$1,050,200
$1.1M
Cap Rate 7%
$750,143
$750.1K
Cap Rate 9%
$583,444
$583.4K
Market Conditions
NOI Build-Up for 3,117 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
$78.5K $25.20/SF
− Vacancy
−$3.5K −$1.13/SF
EGI
$75.0K $24.07/SF
− OpEx
−$22.5K −$7.22/SF
NOI
$52.5K $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 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%
$1,050,200
Cap Rate 7%
$750,143
Cap Rate 9%
$583,444
Alternative Uses
Best Use
Multifamily LT 5
$750.1K
$656.4K – $875.2K
NOI $52,510 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$677.1K
$592.5K – $790.0K
NOI $47,398 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$1.85M
$1.61M – $2.15M
NOI $129,168 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,377
Businesses Nearby
Explore this area
Business Placement
Demographics for 01830, MA
27,553
Population
11,159
Households
2.5
Avg Household Size
41
Median Age
30%
College-Educated
89%
High-School Grad
13.9 sq mi
ZIP Area
1,982
Density / Sq Mi
$79,784
Median Household Income
$49,289
Median Earnings
$1,602
Median Rent
$436,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments include separate utilities and appliances, with additional storage in the attic, basement, and garage.
Where is this duplex located?
The property is located at 33 Highland Avenue Haverhill, MA.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: 3,117‑square‑foot duplex with two apartments; First‑floor unit: 5 rooms and 2‑3 bedrooms; second‑floor unit: 6 rooms and 3‑4 bedrooms; Carriage house/garage with 3 bays and second‑floor storage
