Duplex with Finished
For Sale
$899,999
34-36 Curry Circle, Swampscott, MA 01907
Flexible two-unit property with renovated living space, furnished occupancy, and additional finished area for extended use.
Property Size2,745 SF
Price / SF$327.87
Days on Market66
Property Features for 34-36 Curry Circle
General Information
Standard status
Active
Size
2,745 SF
Property subtype
Multi-family
Building Details
Year Built
1915
Listing Agency:
Sherman Realty
Listed By:
Kirill Balchenkoff
(617) 875-4950
Source:
Sarkisboston
Added: Jul 12
Changed: Sep 14
Last Checked: Sep 15 at 8:00AM
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 Sherman Realty
Investment Insights
Based on property information with market context.
Located at 34-36 Curry Circle in Swampscott, this duplex was built in 1915 and includes two residential units plus a finished attic. The renovated first-floor unit features a new kitchen, updated bath with a luxury stand-up shower, walk-in closets, an open-concept layout, newer windows, updated flooring, central A/C, and spray-foam insulation.
The furnished second-floor unit is leased for 6 months with utilities included, and the furnishings are to remain. The finished attic is not part of the current second-floor lease and includes a kitchen, bedroom, and full bath. Additional property features include a waterproofed basement with French drain, 4 off-street parking spaces, and EV charging.
The property is near the beach, commuter rail, shops, restaurants, and Vinnin Square. The second floor previously operated as an Airbnb-style rental.
The furnished second-floor unit is leased for 6 months with utilities included, and the furnishings are to remain. The finished attic is not part of the current second-floor lease and includes a kitchen, bedroom, and full bath. Additional property features include a waterproofed basement with French drain, 4 off-street parking spaces, and EV charging.
The property is near the beach, commuter rail, shops, restaurants, and Vinnin Square. The second floor previously operated as an Airbnb-style rental.
Key Highlights
- Duplex at 34‑36 Curry Circle, Swampscott, MA 01907
- Finished attic includes a kitchen, bedroom, and full bath; not part of the current second‑floor lease
- Renovated first‑floor unit with new kitchen, updated bath, open‑concept layout, central A/C, and spray‑foam insulation
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
$46,243
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
5.14%
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%
$924,860
$924.9K
Cap Rate 7%
$660,614
$660.6K
Cap Rate 9%
$513,811
$513.8K
Market Conditions
NOI Build-Up for 2,745 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
$69.2K $25.20/SF
− Vacancy
−$3.1K −$1.13/SF
EGI
$66.1K $24.07/SF
− OpEx
−$19.8K −$7.22/SF
NOI
$46.2K $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%
$924,860
Cap Rate 7%
$660,614
Cap Rate 9%
$513,811
Alternative Uses
Best Use
Multifamily LT 5
$660.6K
$578.0K – $770.7K
NOI $46,243 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$596.3K
$521.8K – $695.7K
NOI $41,742 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,752 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 01907, MA
15,148
Population
6,666
Households
2.3
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
3.0 sq mi
ZIP Area
5,049
Density / Sq Mi
$127,714
Median Household Income
$70,837
Median Earnings
$2,206
Median Rent
$690,800
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 - Flexible two-unit property with renovated living space, furnished occupancy, and additional finished area for extended use.
Where is this duplex located?
The property is located at 34-36 Curry Circle Swampscott, MA.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Duplex at 34‑36 Curry Circle, Swampscott, MA 01907; Finished attic includes a kitchen, bedroom, and full bath; not part of the current second‑floor lease; Renovated first‑floor unit with new kitchen, updated bath, open‑concept layout, central A/C, and spray‑foam insulation
