Multifamily Property With Three Living
For Sale
$1,495,000
409 Haverhill Street, Reading, MA 01867
Flexible residential configuration includes an attached in-law suite and a permitted accessory dwelling unit.
Property Size5,677 SF
Price / SF$263.34
Days on Market144
Property Features for 409 Haverhill Street
General Information
Standard status
Active
Size
5,677 SF
Total Parking Spaces
7
Property subtype
Multi-family / 2 Family
Zoning
S20
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,511
Amenities
game room
No
Tile, Vinyl, Carpet, Hardwood, Stone/Ceramic Tile
Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
4
Yes
Insulated Doors
3.0
Picture Window, Skylight(s), Insulated Windows
Electric Dryer Hookup, Washer Hookup
Full, Partially Finished, Walk Out, Interior Access, Sump Pump
Wood Burning
Storage, Stone/Granite/Solid Counters, Upgraded Cabinets, Upgraded Countertops, Walk-In Closet(s), Bathroom With Tub & Shower, Open Floorplan, Remodeled, Slider, Pantry, Cathedral/Vaulted Ceilings, Bathroom with Shower Stall, Living Room, Dining Room, Kitchen, Laundry Room, Mudroom, Sunroom, Family Room, Living RM/Dining RM Combo, Office/Den
3
3.00
Frame
Shingle
Easements, Level
Shed(s)
Balcony/Deck, Balcony, Rain Gutters, Professional Landscaping, Decorative Lighting, Porch, Porch - Screened, Deck - Composite, Patio, Covered Patio/Deck
Porch, Screened, Deck - Composite, Patio, Covered
Building Details
Year Built
1956
Listing Agency:
Classified Realty Group
(978) 664-0075
Listed By:
Quinlan Home Team · License #9518707
(978) 664-0075
Source:
Compass
Added: Apr 9
Changed: Aug 30
Last Checked: Aug 30 at 1:08PM
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 Classified Realty Group
Investment Insights
Based on property information with market context.
This multifamily property, built in 1956, is arranged around three distinct living spaces, including an attached in-law suite and a permitted accessory dwelling unit. The interior includes a lower-level game room with walk-out access, interior access, and a sump pump, along with storage, office or den space, a laundry room, mudroom, sunroom, family room, and combined living and dining areas. Hardwood, tile, vinyl, carpet, and stone or ceramic tile finishes are present throughout. The home also includes a wood-burning feature, updated cabinets and countertops, walk-in closet space, skylights, insulated windows, and a full appliance package.
Outdoor features include a landscaped backyard, porch and screened porch areas, composite decking, patios, covered outdoor space, a balcony, rain gutters, decorative lighting, and a shed. The property is located at 409 Haverhill Street in Reading, near Reading Center, commuter rail, I-93, Route 128, and Lake Quannapowitt. Zoning is S20.
Outdoor features include a landscaped backyard, porch and screened porch areas, composite decking, patios, covered outdoor space, a balcony, rain gutters, decorative lighting, and a shed. The property is located at 409 Haverhill Street in Reading, near Reading Center, commuter rail, I-93, Route 128, and Lake Quannapowitt. Zoning is S20.
Key Highlights
- Three distinct living spaces, including an attached in‑law suite and permitted ADU
- Lower‑level game room with walk‑out access, interior access, and sump pump
- PropertySize: 5677
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
$112,953
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
7.56%
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%
$2,259,060
$2.3M
Cap Rate 7%
$1,613,614
$1.6M
Cap Rate 9%
$1,255,033
$1.3M
Market Conditions
NOI Build-Up for 5,677 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
$216.6K $38.16/SF
− Vacancy
−$11.3K −$1.98/SF
EGI
$205.4K $36.18/SF
− OpEx
−$92.4K −$16.28/SF
NOI
$113.0K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
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%
$2,259,060
Cap Rate 7%
$1,613,614
Cap Rate 9%
$1,255,033
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,953 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.36M
$2.94M – $3.92M
NOI $235,253 @ 7.0% cap · market cap 15.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Explore this area
Business Placement
Demographics for 01867, MA
25,522
Population
9,895
Households
2.6
Avg Household Size
43
Median Age
65%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
2,552
Density / Sq Mi
$163,407
Median Household Income
$85,600
Median Earnings
$1,722
Median Rent
$741,100
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?
Multifamily property - Flexible residential configuration includes an attached in-law suite and a permitted accessory dwelling unit.
Where is this multifamily property located?
The property is located at 409 Haverhill Street Reading, MA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Three distinct living spaces, including an attached in‑law suite and permitted ADU; Lower‑level game room with walk‑out access, interior access, and sump pump; PropertySize: 5677
