Fully Occupied
For Sale
$899,000
Pending
33 Warren St, Peabody, MA 01960
Residential Income, Peabody, MA
Property Size3,341 SF
Lot Size0.16 Acres
Days on Market92
Property Features for 33 Warren St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
8
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 7, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 6, Bathroom 1, Bedroom 8, Bedroom 5
Parking
6
Fireplace
1
Elementary school
Carroll Elementary School
Middle school
Higgins Middle School
High school
Peabody High School
Directions
Endicott St to Warren St
Standard status
Pending
APN
M:0075 B:0014,2104522
Size
3,341 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7584
Amenities
fenced side yard with garden area
farmer's porch
Building Details
Year built
1890
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty Evolution
(781) 395-5600
Listed By:
Keller Williams Realty Evolution
(978) 927-8700
Added: Jun 4
Changed: Sep 2
Last Checked: Sep 3 at 11:06AM
MLS# 73530338
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,341-square-foot duplex, built in 1890, contains two five-room residential units and is fully occupied. The property includes an attached garage, 5+ off-street parking spaces, a fenced side yard with a garden area, and a welcoming farmer’s porch. A fireplace adds another period feature to the home.
The walk-up third floor contains two finished rooms that may accommodate storage, a home office, hobby space, or another use, subject to buyer verification. The property sits on 0.163 acres and is zoned R2. Its Peabody setting places the home near downtown, shopping, restaurants, parks, and major commuter routes.
The walk-up third floor contains two finished rooms that may accommodate storage, a home office, hobby space, or another use, subject to buyer verification. The property sits on 0.163 acres and is zoned R2. Its Peabody setting places the home near downtown, shopping, restaurants, parks, and major commuter routes.
Key Highlights
- Fully occupied duplex with two five‑room units
- 3,341 square feet on a 0.163‑acre lot
- Attached garage and 5+ off‑street parking spaces
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
$56,283
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
6.26%
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%
$1,125,660
$1.1M
Cap Rate 7%
$804,043
$804.0K
Cap Rate 9%
$625,367
$625.4K
Market Conditions
NOI Build-Up for 3,341 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
$84.2K $25.20/SF
− Vacancy
−$3.8K −$1.13/SF
EGI
$80.4K $24.07/SF
− OpEx
−$24.1K −$7.22/SF
NOI
$56.3K $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%
$1,125,660
Cap Rate 7%
$804,043
Cap Rate 9%
$625,367
Alternative Uses
Best Use
Multifamily LT 5
$804.0K
$703.5K – $938.1K
NOI $56,283 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$725.8K
$635.1K – $846.8K
NOI $50,805 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,450 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,020
Businesses Nearby
Explore this area
Business Placement
Demographics for 01960, MA
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,385
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two five-room units provide income-producing residential space with a garage, off-street parking, and fenced yard.
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 $899,000.
What are key features of this property?
This property features: Fully occupied duplex with two five‑room units; 3,341 square feet on a 0.163‑acre lot; Attached garage and 5+ off‑street parking spaces
