Two-Unit Duplex with Private
47 Chase Street, Danvers, MA 01923
For Sale
New
$479,000
Residential Income, Danvers, MA
Property Size1,569 SF
Lot Size0.25 Acres
Price / SF$305.29
Days on Market5
Property Features for 47 Chase Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Amenities
front porch
shed
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
Keller Williams Realty Evolution
(978) 887-3995
Listed By:
Keller Williams Realty Evolution
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 7 at 3:06AM
MLS# 73598434
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.
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Investment Insights
Based on property information with market context.
Built in 1940, this duplex contains 1,569 square feet across two units on a 0.2465-acre lot. The first unit has hardwood floors and a room that can serve as a bedroom or dining area. The second apartment has its own entrance and spans two levels, with an open living and dining space, quartz kitchen counters, and a full bath. Upstairs are two large rooms, laminate flooring, and eave storage. A front porch, double-door shed, and ample parking are also on site.
The property is near Route 128, with the town center and shopping within walking distance. It is zoned R1.
The property is near Route 128, with the town center and shopping within walking distance. It is zoned R1.
Key Highlights
- Two‑unit duplex with 1,569 square feet of living area
- 0.2465‑acre lot
- Second apartment has a private entrance and two‑level layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,432
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,640
$528.6K
Cap Rate 7%
$377,600
$377.6K
Cap Rate 9%
$293,689
$293.7K
Market Conditions
NOI Build-Up for 1,569 SF
Gross rent
$39.5K $25.20/SF
− Vacancy
−$1.8K −$1.13/SF
EGI
$37.8K $24.07/SF
− OpEx
−$11.3K −$7.22/SF
NOI
$26.4K $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 Rate 5%
$528,640
Cap Rate 7%
$377,600
Cap Rate 9%
$293,689
Alternative Uses
Best Use
Multifamily LT 5
$377.6K
$330.4K – $440.5K
NOI $26,432 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$340.8K
$298.2K – $397.7K
NOI $23,859 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$928.8K
$812.7K – $1.08M
NOI $65,019 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
908
Businesses Nearby
Explore this area
Business Placement
Demographics for 01923, MA
27,987
Population
11,405
Households
2.5
Avg Household Size
46
Median Age
47%
College-Educated
95%
High-School Grad
13.2 sq mi
ZIP Area
2,120
Density / Sq Mi
$117,072
Median Household Income
$59,916
Median Earnings
$2,004
Median Rent
$611,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Essex County, MA
Properties on Market for Duplexes in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A separate-entry, two-level apartment provides a distinct layout within the property.
Where is this duplex located?
The property is located at 47 Chase Street Danvers, MA.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,569 square feet of living area; 0.2465‑acre lot; Second apartment has a private entrance and two‑level layout
