Corner-Lot Duplex with
New
For Sale
$794,000
463 Elliott St, Beverly, MA 01915
Two separate driveways and private entrances support flexible occupancy.
Property Size1,864 SF
Price / SF$425.97
Days on Market5
Property Features for 463 Elliott St
General Information
Standard status
Active
Size
1,864 SF
Property subtype
2 Family - 2 Units Up/Down
Building Details
Year Built
1953
Listing Agency:
Keller Williams Realty Evolution
(978) 882-4623
Listed By:
DalBon & Company
(978) 882-4623
Source:
Lockandkeyre
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 5:18AM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
This 1,864-square-foot duplex, built in 1953, combines two residential units with practical separation and shared exterior improvements. The owner’s unit includes a fireplace, side deck, first-floor laundry, and basement space with a finished bonus room, full bath, and dry storage. The second unit has its own exterior entrance and a functional layout. The property also includes three full baths, Anderson windows, separate electric utilities, a garage, and storage areas.
Set on a corner lot, the property offers an oversized yard, two driveways, and parking for up to six vehicles. One driveway is accessed from a quiet side street. Route 128, Beverly Golf & Tennis Club, shopping, dining, and everyday amenities at a nearby plaza are minutes away.
Set on a corner lot, the property offers an oversized yard, two driveways, and parking for up to six vehicles. One driveway is accessed from a quiet side street. Route 128, Beverly Golf & Tennis Club, shopping, dining, and everyday amenities at a nearby plaza are minutes away.
Key Highlights
- 1,864‑square‑foot duplex on a corner lot
- Two driveways, including access from a quiet side street
- Parking for up to six vehicles plus a garage
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
$31,401
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
3.95%
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%
$628,020
$628.0K
Cap Rate 7%
$448,586
$448.6K
Cap Rate 9%
$348,900
$348.9K
Market Conditions
NOI Build-Up for 1,864 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
$47.0K $25.20/SF
− Vacancy
−$2.1K −$1.13/SF
EGI
$44.9K $24.07/SF
− OpEx
−$13.5K −$7.22/SF
NOI
$31.4K $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%
$628,020
Cap Rate 7%
$448,586
Cap Rate 9%
$348,900
Alternative Uses
Best Use
Multifamily LT 5
$448.6K
$392.5K – $523.4K
NOI $31,401 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$404.9K
$354.3K – $472.4K
NOI $28,345 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$1.10M
$965.6K – $1.29M
NOI $77,244 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
Business Placement
Demographics for 01915, MA
42,341
Population
17,318
Households
2.4
Avg Household Size
40
Median Age
51%
College-Educated
97%
High-School Grad
14.2 sq mi
ZIP Area
2,982
Density / Sq Mi
$102,347
Median Household Income
$57,989
Median Earnings
$1,684
Median Rent
$619,600
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 separate driveways and private entrances support flexible occupancy.
Where is this duplex located?
The property is located at 463 Elliott St Beverly, MA.
What is the asking price?
The asking price for this property is $794,000.
What are key features of this property?
This property features: 1,864‑square‑foot duplex on a corner lot; Two driveways, including access from a quiet side street; Parking for up to six vehicles plus a garage
