Three-Unit Income
For Sale
$849,000
38 Wilson St, Haverhill, MA 01832
Fully occupied property near downtown Haverhill with access to transit, retail, dining, and major highways.
Property Size3,851 SF
Price / SF$220.46
Days on Market39
Property Features for 38 Wilson St
General Information
Standard status
Active
Size
3,851 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,076
Listing Agency:
Gibson Sotheby's International Realty
(978) 989-2293
Listed By:
Amy Johnson
(978) 989-2293
Source:
Exprealty
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 29 at 3:44PM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located at 38 Wilson St in Haverhill, this 3,851-square-foot triplex includes three separate three-bedroom, one-bath units. Each unit is currently rented, providing an established multifamily configuration for an owner or investor. The property is offered in as-is condition.
The setting places residents near downtown Haverhill, shopping, restaurants, public transportation, the commuter rail, and major highways. This combination of unit layout, current occupancy, and proximity to everyday services defines the property’s practical appeal.
The setting places residents near downtown Haverhill, shopping, restaurants, public transportation, the commuter rail, and major highways. This combination of unit layout, current occupancy, and proximity to everyday services defines the property’s practical appeal.
Key Highlights
- 3,851‑square‑foot triplex with three residential units
- Three 3‑bedroom, 1‑bath units
- All units are currently rented
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
$64,875
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
7.64%
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%
$1,297,500
$1.3M
Cap Rate 7%
$926,786
$926.8K
Cap Rate 9%
$720,833
$720.8K
Market Conditions
NOI Build-Up for 3,851 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
$97.0K $25.20/SF
− Vacancy
−$4.4K −$1.13/SF
EGI
$92.7K $24.07/SF
− OpEx
−$27.8K −$7.22/SF
NOI
$64.9K $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%
$1,297,500
Cap Rate 7%
$926,786
Cap Rate 9%
$720,833
Alternative Uses
Best Use
Multifamily LT 5
$926.8K
$810.9K – $1.08M
NOI $64,875 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$836.6K
$732.0K – $976.0K
NOI $58,560 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,584 @ 7.0% cap · market cap 18.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 01832, MA
25,656
Population
10,735
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
11.4 sq mi
ZIP Area
2,251
Density / Sq Mi
$81,141
Median Household Income
$47,151
Median Earnings
$1,612
Median Rent
$410,300
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?
Triplex - Fully occupied property near downtown Haverhill with access to transit, retail, dining, and major highways.
Where is this triplex located?
The property is located at 38 Wilson St Haverhill, MA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 3,851‑square‑foot triplex with three residential units; Three 3‑bedroom, 1‑bath units; All units are currently rented
