Duplex with Finished Lower
New
For Sale
$1,350,000
41 Hobart St 0, Danvers, MA 01923
Each residence has three levels, in-unit laundry, and off-street parking.
Property Size2,850 SF
Lot Size0.22 Acres
Price / SF$473.68
Days on Market2
Property Features for 41 Hobart St 0
General Information
Standard status
Active
Size
2,850 SF
Lot size
0.22 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
in-unit laundry
off-street parking
Building Details
Year Built
1800
Listing Agency:
Derek Greene, The Greene Realty Group
Listed By:
Walker Residential Property
(617) 581-5299
Source:
Walkerresidentialproperty
Added: Oct 4
Last Checked: Oct 4 at 7:45AM
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 Derek Greene, The Greene Realty Group
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residences and 2,850 square feet of building area. Each unit has three bedrooms, two full bathrooms and one half bath across three levels, including a finished lower level. In-unit laundry and off-street parking serve the property. The lot measures approximately 9,450 square feet.
The property is within walking distance of downtown shops and restaurants, with major highways a short drive away.
The property is within walking distance of downtown shops and restaurants, with major highways a short drive away.
Key Highlights
- Two side‑by‑side residences, each with 3 bedrooms, 2 full baths and a half bath
- 2,850 square feet of building area
- Each unit spans three levels and includes a finished lower level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,012
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$960,240
$960.2K
Cap Rate 7%
$685,886
$685.9K
Cap Rate 9%
$533,467
$533.5K
Market Conditions
NOI Build-Up for 2,850 SF
Gross rent
$71.8K $25.20/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$68.6K $24.07/SF
− OpEx
−$20.6K −$7.22/SF
NOI
$48.0K $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%
$960,240
Cap Rate 7%
$685,886
Cap Rate 9%
$533,467
Alternative Uses
Best Use
Multifamily LT 5
$685.9K
$600.2K – $800.2K
NOI $48,012 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$619.1K
$541.7K – $722.3K
NOI $43,338 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,103 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
834
Businesses Nearby
Explore this area
Business Placement
Demographics for 01923, MA
27,987
Population
11,405
Households
2.5
Avg Household Size
46
Median Age
47%
College-Educated
95%
High-School Grad
13.2 sq mi
ZIP Area
2,120
Density / Sq Mi
$117,072
Median Household Income
$59,916
Median Earnings
$2,004
Median Rent
$611,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three levels, in-unit laundry, and off-street parking.
Where is this duplex located?
The property is located at 41 Hobart St 0 Danvers, MA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Two side‑by‑side residences, each with 3 bedrooms, 2 full baths and a half bath; 2,850 square feet of building area; Each unit spans three levels and includes a finished lower level
