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 Market139
Property Features for 44 Paleologos
General Information
Standard status
Active
Size
1,582 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Toner Real Estate,LLC
Listed By:
Colleen Toner
(617) 438-7878
Source:
Eganrealtygroup
Added: Jun 6
Changed: Oct 21
Last Checked: Oct 12 at 8:22PM
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 Toner Real Estate,LLC
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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 / Yr
$26,651
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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
