Two-Unit Duplex with Private
For Sale
$850,000
38-40 Pleasant, North Andover, MA 01845
Duplex offering two separate units with private entrances, basements, and in-unit washer and dryer for each side.
Property Size2,227 SF
Price / SF$381.68
Days on Market104
Property Features for 38-40 Pleasant
General Information
Standard status
Active
Size
2,227 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
J. Borstell Real Estate, Inc.
Listed By:
James Williamson · License #258023025
(978) 501-2594
Source:
Gooddeedsrealtypartners
Added: Jul 14
Changed: Oct 3
Last Checked: Oct 7 at 1:01PM
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 J. Borstell Real Estate, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two separate residences at 38 Pleasant St. and 40 Pleasant St., each with its own private entrance and basement. The 38 Pleasant unit features two bedrooms and 1.5 baths, along with a welcoming porch, an oversized primary bedroom, and spacious living and dining rooms. The 40 Pleasant St. unit offers two bedrooms and 1 bath, plus a private deck.
Both units include dedicated basements with washer and dryer, providing convenient laundry and additional storage within each side of the property. The duplex is described as having separate driveways and a backyard setting.
For buyers seeking a two-family setup, the property provides two distinct floorplans within one building, with individual basement laundry and separate entries designed to support everyday privacy.
Both units include dedicated basements with washer and dryer, providing convenient laundry and additional storage within each side of the property. The duplex is described as having separate driveways and a backyard setting.
For buyers seeking a two-family setup, the property provides two distinct floorplans within one building, with individual basement laundry and separate entries designed to support everyday privacy.
Key Highlights
- Two‑unit duplex at 38 and 40 Pleasant St with separate driveways and private entrances
- Each unit has its own basement plus dedicated washer and dryer
- 38 Pleasant St: 2 bedrooms, 1.5 baths, porch, and oversized primary bedroom with living and dining rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,516
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$750,320
$750.3K
Cap Rate 7%
$535,943
$535.9K
Cap Rate 9%
$416,844
$416.8K
Market Conditions
NOI Build-Up for 2,227 SF
Gross rent
$56.1K $25.20/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$53.6K $24.07/SF
− OpEx
−$16.1K −$7.22/SF
NOI
$37.5K $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 Rate 5%
$750,320
Cap Rate 7%
$535,943
Cap Rate 9%
$416,844
Alternative Uses
Best Use
Multifamily LT 5
$535.9K
$469.0K – $625.3K
NOI $37,516 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$483.8K
$423.3K – $564.4K
NOI $33,865 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,286 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Explore this area
Business Placement
Demographics for 01845, MA
31,855
Population
12,010
Households
2.7
Avg Household Size
39
Median Age
61%
College-Educated
97%
High-School Grad
26.4 sq mi
ZIP Area
1,207
Density / Sq Mi
$134,319
Median Household Income
$64,592
Median Earnings
$2,113
Median Rent
$670,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex offering two separate units with private entrances, basements, and in-unit washer and dryer for each side.
Where is this duplex located?
The property is located at 38-40 Pleasant North Andover, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑unit duplex at 38 and 40 Pleasant St with separate driveways and private entrances; Each unit has its own basement plus dedicated washer and dryer; 38 Pleasant St: 2 bedrooms, 1.5 baths, porch, and oversized primary bedroom with living and dining rooms
