Three-Unit Residential Income
For Sale
$899,000
41 Northend St, Peabody, MA 01960
Fully occupied three-family with separated utilities, off-street parking, and an outdoor patio and backyard grass area.
Property Size2,064 SF
Price / SF$435.56
Days on Market221
Property Features for 41 Northend St
General Information
Standard status
Active
Size
2,064 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
R1A
Occupancy
100%
Net Operating Income
$68,400
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,765
Amenities
off-street parking
outdoor patio
grass area
Building Details
Building Size
2,064 SF
Year Built
1880
Stories
3
Tenancy
Multi
Listing Agency:
Atlantic Properties
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jan 28
Changed: Sep 5
Last Checked: Jul 7 at 4:16AM
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 Atlantic Properties
Investment Insights
Based on property information with market context.
This fully occupied three-family residential income property offers three separate units, each with 2 bedrooms and 1 bathroom per floor. The building is configured with separated gas heat, electric, and hot water for each unit, for three total independent utility systems. Off-street parking is available, and the property includes an outdoor patio and a grass area in the rear yard.
The home is walkable to an elementary school and is described as close to area amenities.
With a current rental income of $5,700 per month, the property may appeal to an owner-occupant or an investor seeking a multi-unit setup with separate utilities.
The home is walkable to an elementary school and is described as close to area amenities.
With a current rental income of $5,700 per month, the property may appeal to an owner-occupant or an investor seeking a multi-unit setup with separate utilities.
Key Highlights
- Fully occupied 3‑family multi‑unit with 6 total bedrooms and 2‑bedroom, 1‑bath per floor
- Current rental income of $5,700 per month
- Each unit has separated gas heat, electric, and hot water with 3 separate utility systems total
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
$34,771
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
3.87%
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%
$695,420
$695.4K
Cap Rate 7%
$496,729
$496.7K
Cap Rate 9%
$386,344
$386.3K
Market Conditions
NOI Build-Up for 2,064 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
$52.0K $25.20/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$49.7K $24.07/SF
− OpEx
−$14.9K −$7.22/SF
NOI
$34.8K $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%
$695,420
Cap Rate 7%
$496,729
Cap Rate 9%
$386,344
Alternative Uses
Best Use
Multifamily LT 5
$496.7K
$434.6K – $579.5K
NOI $34,771 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$448.4K
$392.3K – $523.1K
NOI $31,386 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,532 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
975
Businesses Nearby
Explore this area
Business Placement
Demographics for 01960, MA
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,385
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
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 three-family with separated utilities, off-street parking, and an outdoor patio and backyard grass area.
Where is this triplex located?
The property is located at 41 Northend St Peabody, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Fully occupied 3‑family multi‑unit with 6 total bedrooms and 2‑bedroom, 1‑bath per floor; Current rental income of $5,700 per month; Each unit has separated gas heat, electric, and hot water with 3 separate utility systems total
