Residential Income Property With
47 North Street Warren, MA 01083
47 North Street, Warren, MA, 01083
$349,900
For Sale
$349,900
Fully occupied multifamily with off-street parking and recent electrical, heating, hot water, and roofing updates.
Property Size2,556 SF
Price / SF$136.89
Days on Market130
Property Features for 47 North Street
General Information
- Standard status
- Active
- Size
- 2,556 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1880
Listing agency
Coldwell Banker Realty - Westwood
Listed by
Kristen Meleedy
(617) 731-4644
Source
Hammondre
Added: Mar 14 Updated: Jul 21 at 1:16PM Checked: Jul 21 at 1:16PM
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 Coldwell Banker Realty - Westwood
Investment Insights
Based on property information with market context.
This fully occupied residential income property is presented with the ability to increase income with appropriate updates to existing rents. The property includes potential to add two more units or expand into the upstairs dormered attic, subject to feasibility.
More recent improvements include 5 new electric panels and services, 2 newer furnaces, and 1 newer water heater. The roof and gutters are less than 8 years old. Rental terms include water, sewer, maintenance, and trash collection.
Off-street parking is available via a driveway on the left side of the home, with approximately 4–5 parking spots. The lot is described as low maintenance.
More recent improvements include 5 new electric panels and services, 2 newer furnaces, and 1 newer water heater. The roof and gutters are less than 8 years old. Rental terms include water, sewer, maintenance, and trash collection.
Off-street parking is available via a driveway on the left side of the home, with approximately 4–5 parking spots. The lot is described as low maintenance.
Key Highlights
- 1880‑built, fully occupied TAW multifamily currently includes rents that cover water, sewer, maintenance, and trash collection
- Potential for two additional units or expansion to the upstairs dormered attic
- Recent updates include 5 new electric panels and services
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.1k | $21.96 |
| − Vacancy | −$1.5k | −$0.57 |
| EGI | $54.7k | $21.39 |
| − OpEx | −$24.6k | −$9.63 |
| NOI | $30.1k | $11.76 |
2,556 SF · lease $21.96/SF/yr · vacancy 2.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$429.6K
$375.9K – $501.2K
NOI $30,069 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$872.8K
$763.7K – $1.02M
NOI $61,099 @ 7.0% cap · market cap 17.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Fully occupied multifamily with off-street parking and recent electrical, heating, hot water, and roofing updates.
Where is this multifamily property located?
The property is located at 47 North Street Warren, MA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1880‑built, fully occupied TAW multifamily currently includes rents that cover water, sewer, maintenance, and trash collection; Potential for two additional units or expansion to the upstairs dormered attic; Recent updates include 5 new electric panels and services
