Corner-Lot Duplex with
For Sale
$794,000
Pending
463 Elliott St, Beverly, MA 01915
Residential Income, Beverly, MA
Property Size1,864 SF
Lot Size0.24 Acres
Days on Market52
Property Features for 463 Elliott St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R10
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Parking
7
Fireplace
1
Directions
On the corner of Elliot and Williams. The homes does have parking on Williams
Standard status
Pending
APN
M:0017 B:0074 L:,4183115
Size
1,864 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7227
Amenities
fireplace
side deck
garage
Anderson windows
finished bonus room
first-floor laundry
ample dry storage
Building Details
Year built
1953
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Keller Williams Realty Evolution
(781) 395-5600
Added: Aug 5
Changed: Sep 12
Last Checked: Sep 25 at 12:06AM
MLS# 73556671
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 1,864 square feet on a 0.2407-acre corner lot and was built in 1953. The owner’s unit includes a fireplace, first-floor laundry, a side deck, and a finished basement bonus room with a full bath and dry storage. The second residence has a separate exterior entry and a functional layout. Anderson windows, three full baths, a garage, and two driveways add practical utility, while parking accommodates up to six vehicles.
The property is located at 463 Elliott St in Beverly, Massachusetts, with access from a quieter side street. Route 128 is minutes away, and the surrounding area includes Beverly Golf & Tennis Club, shopping, dining, and a nearby plaza. Separate electric service supports the two-unit configuration, and additional dry storage is available throughout the property.
The property is located at 463 Elliott St in Beverly, Massachusetts, with access from a quieter side street. Route 128 is minutes away, and the surrounding area includes Beverly Golf & Tennis Club, shopping, dining, and a nearby plaza. Separate electric service supports the two-unit configuration, and additional dry storage is available throughout the property.
Key Highlights
- Duplex with 1,864 square feet on a 0.2407‑acre corner lot
- Built in 1953 with a garage and parking for up to six vehicles
- Two driveways, including access from a quiet side street
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
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Current Use
Lease Details
2
Residential units
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 separate electric utilities, three full baths, private entrances, and flexible owner-occupant or investment use.
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: Duplex with 1,864 square feet on a 0.2407‑acre corner lot; Built in 1953 with a garage and parking for up to six vehicles; Two driveways, including access from a quiet side street
