Duplex with Attached
33 Warren St Peabody, MA 01960
For Sale
$945,000
Fully occupied two-family with off-street parking and a fenced side yard, plus a walk-up third floor for flexible use.
Property Size3,341 SF
Price / SF$282.85
Days on Market53
Property Features for 33 Warren St
General Information
- Standard status
- Active
- Size
- 3,341 SF
- Property subtype
- 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1890
Listing Agency:
Keller Williams Realty Evolution
(781) 334-8075
Listed By:
Shola Oguntolu
(781) 334-8075
Source:
Lockandkeyre
Added: Jun 4
Changed: Jul 10
Last Checked: Jul 26 at 2:44PM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
This well-maintained two-family property is fully occupied and provides two generously sized 5-room units. The home totals 6 bedrooms and offers an attached garage, a fenced side yard with a garden area, and 5+ off-street parking spaces. A charming farmer’s porch adds to the property’s classic character.
A walk-up third floor includes two additional rooms, which the buyer can evaluate for future expansion or alternative uses such as storage or a home office (buyer to conduct due diligence). The property is positioned for convenience in Peabody, with proximity to downtown, shopping, restaurants, parks, and major commuter routes.
For investors, the existing rental occupancy can support a stabilized ownership strategy, while the duplex format also offers separate living arrangements for an owner-occupant plan. The combination of multi-unit layout, dedicated parking, and outdoor space makes the property practical for day-to-day living, and the additional third-floor rooms provide further flexibility depending on the buyer’s intended use.
A walk-up third floor includes two additional rooms, which the buyer can evaluate for future expansion or alternative uses such as storage or a home office (buyer to conduct due diligence). The property is positioned for convenience in Peabody, with proximity to downtown, shopping, restaurants, parks, and major commuter routes.
For investors, the existing rental occupancy can support a stabilized ownership strategy, while the duplex format also offers separate living arrangements for an owner-occupant plan. The combination of multi-unit layout, dedicated parking, and outdoor space makes the property practical for day-to-day living, and the additional third-floor rooms provide further flexibility depending on the buyer’s intended use.
Key Highlights
- 1890‑built, fully occupied 2‑family with over 3,300 sq. ft. total living space
- Two 5‑room units with 6 total bedrooms—rental income from day one (per remarks)
- Walk‑up third‑floor space with two additional rooms plus storage, office, or expansion potential (buyer to verify)
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 | $84.2k | $25.20 |
| − Vacancy | −$3.8k | −$1.13 |
| EGI | $80.4k | $24.07 |
| − OpEx | −$24.1k | −$7.22 |
| NOI | $56.3k | $16.85 |
3,341 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$804.0K
$703.5K – $938.1K
NOI $56,283 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$725.8K
$635.1K – $846.8K
NOI $50,805 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,450 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Fully occupied two-family with off-street parking and a fenced side yard, plus a walk-up third floor for flexible use.
Where is this duplex located?
The property is located at 33 Warren St Peabody, MA.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: 1890‑built, fully occupied 2‑family with over 3,300 sq. ft. total living space; Two 5‑room units with 6 total bedrooms—rental income from day one (per remarks); Walk‑up third‑floor space with two additional rooms plus storage, office, or expansion potential (buyer to verify)
