Two-Family Residential Income
35 Reservoir Rd Gloucester, MA 01930
For Sale
$1,199,000
Well-maintained two-family home with two updated units, in-unit laundry, off-street parking, and outdoor storage options.
Property Size3,120 SF
Price / SF$384.29
Days on Market95
Property Features for 35 Reservoir Rd
General Information
- Standard status
- Active
- Size
- 3,120 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1980
Listing Agency:
Engel & Volkers By the Sea
(978) 836-8976
Listed By:
Rosalia Giacalone
(978) 836-8976
Source:
Lockandkeyre
Added: Apr 22
Changed: Jul 23
Last Checked: Jul 24 at 1:27PM
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 Engel & Volkers By the Sea
Investment Insights
Based on property information with market context.
This well-maintained two-family home offers two spacious units with a total of 5 bedrooms and 2 full baths. The property features updated bathrooms and in-unit laundry for added day-to-day convenience, along with a comfortable layout designed for easy everyday living. The configuration provides flexibility for use as a multi-generational or single-family arrangement if desired.
Set on a 0.24-acre lot, the home includes off-street parking and a garage space, plus two sheds for additional storage. Outdoor space rounds out the offering, and the property is described as being conveniently located near Gloucester’s beaches, downtown, restaurants, and commuter routes.
The available information supports a two-unit structure with functional room sizes and abundant natural light, making the property well-suited for owners looking to occupy part of the home while maintaining a second unit.
Set on a 0.24-acre lot, the home includes off-street parking and a garage space, plus two sheds for additional storage. Outdoor space rounds out the offering, and the property is described as being conveniently located near Gloucester’s beaches, downtown, restaurants, and commuter routes.
The available information supports a two-unit structure with functional room sizes and abundant natural light, making the property well-suited for owners looking to occupy part of the home while maintaining a second unit.
Key Highlights
- Two‑family home built in 1980 with 5 bedrooms total and 2 full baths across both units
- Potential to use as a single‑family or multi‑generational setup
- Updated baths and in‑unit laundry in each unit
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 | $78.6k | $25.20 |
| − Vacancy | −$3.5k | −$1.13 |
| EGI | $75.1k | $24.07 |
| − OpEx | −$22.5k | −$7.22 |
| NOI | $52.6k | $16.85 |
3,120 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$750.9K
$657.0K – $876.0K
NOI $52,560 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$677.8K
$593.1K – $790.7K
NOI $47,444 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$1.85M
$1.62M – $2.15M
NOI $129,292 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with two updated units, in-unit laundry, off-street parking, and outdoor storage options.
Where is this duplex located?
The property is located at 35 Reservoir Rd Gloucester, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Two‑family home built in 1980 with 5 bedrooms total and 2 full baths across both units; Potential to use as a single‑family or multi‑generational setup; Updated baths and in‑unit laundry in each unit
