Duplex With Separate
37 Lincoln Street North Andover, MA 01845
For Sale
$849,900
Two-unit duplex features open, high-ceiling layouts, in-unit laundry, private outdoor space, and shared fenced yard.
Property Size2,808 SF
Price / SF$302.67
Days on Market151
Property Features for 37 Lincoln Street
General Information
- Standard status
- Active
- Size
- 2,808 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing Agency:
Fiv Realty Co
Listed By:
Justin Blankenship
(413) 584-2900
Source:
Mapleandmainrealty
Added: Feb 26
Changed: Jul 23
Last Checked: Jul 24 at 11:24PM
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 Fiv Realty Co
Investment Insights
Based on property information with market context.
This duplex at 37 Lincoln Street offers two separate units with open, airy layouts, high ceilings, ample sunlight, and wood flooring. Unit #1 is currently rented on a month-to-month basis. Unit #2 includes an added open landing area with an attached three-season porch wrapped in windows, along with a finished third floor that is currently primed for immediate livability or rentability.
Both units have their own driveway and private outdoor space, with in-unit laundry in each. The property also provides a fully fenced yard that both units share, plus basement storage.
Recent improvements noted include a 2019 roof and 2019 front porch/lift work, along with Mass Save insulation. The home is served by two gas meters, also referenced as part of the 2019 updates.
Both units have their own driveway and private outdoor space, with in-unit laundry in each. The property also provides a fully fenced yard that both units share, plus basement storage.
Recent improvements noted include a 2019 roof and 2019 front porch/lift work, along with Mass Save insulation. The home is served by two gas meters, also referenced as part of the 2019 updates.
Key Highlights
- Two‑unit duplex built in 1920 with open, high‑ceiling layouts, ample sunlight, and wood flooring
- Unit #1 is currently rented on a month‑to‑month basis
- Unit #2 includes an open landing area with attached 3‑seasons porch wrapped in windows, plus a finished and primed 3rd floor
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 | $70.8k | $25.20 |
| − Vacancy | −$3.2k | −$1.13 |
| EGI | $67.6k | $24.07 |
| − OpEx | −$20.3k | −$7.22 |
| NOI | $47.3k | $16.85 |
2,808 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$675.8K
$591.3K – $788.4K
NOI $47,304 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$610.0K
$533.8K – $711.7K
NOI $42,700 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,363 @ 7.0% cap · market cap 13.69%
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 - Two-unit duplex features open, high-ceiling layouts, in-unit laundry, private outdoor space, and shared fenced yard.
Where is this duplex located?
The property is located at 37 Lincoln Street North Andover, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1920 with open, high‑ceiling layouts, ample sunlight, and wood flooring; Unit #1 is currently rented on a month‑to‑month basis; Unit #2 includes an open landing area with attached 3‑seasons porch wrapped in windows, plus a finished and primed 3rd floor
