Two-Unit Duplex with Private
38-40 Pleasant North Andover, MA 01845
38-40 Pleasant, North Andover, MA, 01845
$850,000
For Sale
$850,000
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 Market14
Property Features for 38-40 Pleasant
General Information
- Standard status
- Active
- Size
- 2,227 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1900
Listing agency
J. Borstell Real Estate, Inc.
(978) 501-2594
Listed by
James Williamson · License #258023025
(978) 501-2594
Source
Lockandkeyre
Added: Jul 8 Updated: Jul 21 at 8:02AM Checked: Jul 21 at 8:02AM
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.
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
Local 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 | $56.1k | $25.20 |
| − Vacancy | −$2.5k | −$1.13 |
| EGI | $53.6k | $24.07 |
| − OpEx | −$16.1k | −$7.22 |
| NOI | $37.5k | $16.85 |
2,227 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
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
