Move-In Ready Two-Family
For Sale
$750,000
44 Paleologos, Peabody, MA 01960
Two-family residence with move-in-ready units, coin-op laundry, and separate utilities, plus tandem off-street driveway parking.
Property Size1,582 SF
Price / SF$474.08
Days on Market80
Property Features for 44 Paleologos
General Information
Standard status
Active
Size
1,582 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
R2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,041
Building Details
Building Size
1,582 SF
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
CRG Commercial
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 19
Changed: Sep 5
Last Checked: Jul 30 at 2:21AM
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 CRG Commercial
Investment Insights
Based on property information with market context.
This move-in-ready two-family home at 44 Paleologos Street offers a maintenance-free ownership experience and two separate residential units. The first-floor unit includes three rooms with one bedroom, one full bathroom, and an eat-in kitchen. The second-floor unit features an open-concept oversized eat-in kitchen with a brand-new dishwasher, along with a living room and a full bathroom, and it includes three bedrooms with hardwood floors.
The property includes a basement with coin-op laundry and separate utilities for each unit, including gas heat, separate electric, and separate water tanks. The water tanks were updated in 2023 and 2024. The home also offers tandem off-street driveway parking.
Both units are designed as self-contained living spaces, making the property suitable for an owner-occupant configuration or for rental use.
The property includes a basement with coin-op laundry and separate utilities for each unit, including gas heat, separate electric, and separate water tanks. The water tanks were updated in 2023 and 2024. The home also offers tandem off-street driveway parking.
Both units are designed as self-contained living spaces, making the property suitable for an owner-occupant configuration or for rental use.
Key Highlights
- Move‑in‑ready two‑family home with 8 rooms, 4 bedrooms, and 2 full bathrooms
- First‑floor unit: 1 bedroom, 1 full bath, eat‑in kitchen, and move‑in ready condition
- Second‑floor unit: open‑concept oversized eat‑in kitchen with brand new DW, plus 3 bedrooms with hardwood floors
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
$26,651
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
3.55%
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%
$533,020
$533.0K
Cap Rate 7%
$380,729
$380.7K
Cap Rate 9%
$296,122
$296.1K
Market Conditions
NOI Build-Up for 1,582 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
$39.9K $25.20/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$38.1K $24.07/SF
− OpEx
−$11.4K −$7.22/SF
NOI
$26.7K $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%
$533,020
Cap Rate 7%
$380,729
Cap Rate 9%
$296,122
Alternative Uses
Best Use
Multifamily LT 5
$380.7K
$333.1K – $444.2K
NOI $26,651 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$343.7K
$300.7K – $401.0K
NOI $24,057 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$936.5K
$819.5K – $1.09M
NOI $65,558 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,315
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?
Duplex - Two-family residence with move-in-ready units, coin-op laundry, and separate utilities, plus tandem off-street driveway parking.
Where is this duplex located?
The property is located at 44 Paleologos Peabody, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Move‑in‑ready two‑family home with 8 rooms, 4 bedrooms, and 2 full bathrooms; First‑floor unit: 1 bedroom, 1 full bath, eat‑in kitchen, and move‑in ready condition; Second‑floor unit: open‑concept oversized eat‑in kitchen with brand new DW, plus 3 bedrooms with hardwood floors
