Duplex with Attached
For Sale
$477,888
45 Irving Ave 45, Haverhill, MA 01832
Two-unit property with central air, natural gas baseboard heat, and a paved attached garage.
Property Size1,396 SF
Price / SF$342.33
Days on Market174
Property Features for 45 Irving Ave 45
General Information
Standard status
Active
Size
1,396 SF
Total Parking Spaces
4
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,088
Amenities
Central Air
Natural Gas, Baseboard
Range, Dishwasher, Disposal, Microwave, Refrigerator
Attached, Garage Door Opener, Off Street, Paved, Garage
Storage, Rain Gutters
Building Details
Building Size
1,396 SF
Year Built
2002
Stories
2
Listing Agency:
Century 21 North East
(978) 423-6545
Listed By:
Fermin Group
(978) 423-6545
Source:
Evrealestate
Added: Mar 11
Changed: Aug 31
Last Checked: Aug 31 at 12:57PM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This 1,396-square-foot duplex, built in 2002, includes central air and natural gas baseboard heating. The property features an attached garage with door opener, paved off-street parking, storage, and rain gutters.
The kitchen equipment includes a range, dishwasher, disposal, and microwave, along with a refrigerator. The property is located in Haverhill, Massachusetts, in Essex County, with access described from I-495 via Exit 49 and local roads including Thornton, Mountain, and Irving.
The kitchen equipment includes a range, dishwasher, disposal, and microwave, along with a refrigerator. The property is located in Haverhill, Massachusetts, in Essex County, with access described from I-495 via Exit 49 and local roads including Thornton, Mountain, and Irving.
Key Highlights
- 1,396‑square‑foot duplex built in 2002
- Attached paved garage with door opener and off‑street parking
- Central air conditioning and natural gas baseboard heating
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
$23,517
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
4.92%
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%
$470,340
$470.3K
Cap Rate 7%
$335,957
$336.0K
Cap Rate 9%
$261,300
$261.3K
Market Conditions
NOI Build-Up for 1,396 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
$35.2K $25.20/SF
− Vacancy
−$1.6K −$1.13/SF
EGI
$33.6K $24.07/SF
− OpEx
−$10.1K −$7.22/SF
NOI
$23.5K $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%
$470,340
Cap Rate 7%
$335,957
Cap Rate 9%
$261,300
Alternative Uses
Best Use
Multifamily LT 5
$336.0K
$294.0K – $392.0K
NOI $23,517 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$303.3K
$265.4K – $353.8K
NOI $21,228 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$826.4K
$723.1K – $964.2K
NOI $57,850 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 01832, MA
25,656
Population
10,735
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
11.4 sq mi
ZIP Area
2,251
Density / Sq Mi
$81,141
Median Household Income
$47,151
Median Earnings
$1,612
Median Rent
$410,300
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-unit property with central air, natural gas baseboard heat, and a paved attached garage.
Where is this duplex located?
The property is located at 45 Irving Ave 45 Haverhill, MA.
What is the asking price?
The asking price for this property is $477,888.
What are key features of this property?
This property features: 1,396‑square‑foot duplex built in 2002; Attached paved garage with door opener and off‑street parking; Central air conditioning and natural gas baseboard heating
