Duplex with Two Detached
For Sale
$899,000
481 Humphrey Street, Swampscott, MA 01907
Two maintained residences on one parcel offer flexible living arrangements near the coast and downtown amenities.
Property Size2,471 SF
Price / SF$363.82
Days on Market145
Property Features for 481 Humphrey Street
General Information
Standard status
Active
Size
2,471 SF
Total Parking Spaces
10
Property subtype
Single Family / Detached
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,158
Amenities
No
Wood, Vinyl
Gas Water Heater, Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
French Doors
2.0
Electric Dryer Hookup, Washer Hookup
Full, Interior Access, Concrete Floor, Unfinished Basement
Walk-up Attic, Internet Available - Unknown, French Doors
1
1.50
2
Frame
Shingle
Flood Plain, Level
Porch, Rain Gutters
Ocean, Walk to, 0 to 1/10 Mile To Beach, Beach Ownership(Public)
Porch
Building Details
Year Built
1798
Buildings
2
Listing Agency:
Cornerlot
(978) 741-7120
Listed By:
Brian Oppenheim · License #9086902
(978) 741-7120
Source:
Compass
Added: Apr 10
Changed: Aug 31
Last Checked: Aug 30 at 11:35PM
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 Cornerlot
Investment Insights
Based on property information with market context.
This duplex property comprises two single-family residences situated on one lot, with 2,471 square feet of property size and an 18th-century construction date of 1798. The homes feature wood and hardwood finishes, kitchens equipped with ranges, dishwashers, disposals, microwaves, and refrigerators, plus washer and dryer connections. Additional interior elements include porches, unfinished full basement space, walk-up and heated attic areas, open floorplans, and bathrooms with tub-and-shower or shower-stall configurations.
The property is located at 481 Humphrey Street in Swampscott, Massachusetts, within 0 to 1/10 mile to a public beach. Swampscott Harbor and Fisherman’s Beach are nearby, while downtown Swampscott provides access to shops, restaurants, and daily conveniences. Exterior construction includes frame and shingle materials, with level grounds and porch areas.
The property is located at 481 Humphrey Street in Swampscott, Massachusetts, within 0 to 1/10 mile to a public beach. Swampscott Harbor and Fisherman’s Beach are nearby, while downtown Swampscott provides access to shops, restaurants, and daily conveniences. Exterior construction includes frame and shingle materials, with level grounds and porch areas.
Key Highlights
- Two single‑family homes positioned on one lot
- 2,471 square feet of property size
- Located 0 to 1/10 Mile To Beach with public beach access
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
$41,627
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
4.63%
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%
$832,540
$832.5K
Cap Rate 7%
$594,671
$594.7K
Cap Rate 9%
$462,522
$462.5K
Market Conditions
NOI Build-Up for 2,471 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
$62.3K $25.20/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$59.5K $24.07/SF
− OpEx
−$17.8K −$7.22/SF
NOI
$41.6K $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%
$832,540
Cap Rate 7%
$594,671
Cap Rate 9%
$462,522
Alternative Uses
Best Use
Multifamily LT 5
$594.7K
$520.3K – $693.8K
NOI $41,627 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$536.8K
$469.7K – $626.3K
NOI $37,575 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,398 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Explore this area
Business Placement
Demographics for 01907, MA
15,148
Population
6,666
Households
2.3
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
3.0 sq mi
ZIP Area
5,049
Density / Sq Mi
$127,714
Median Household Income
$70,837
Median Earnings
$2,206
Median Rent
$690,800
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 maintained residences on one parcel offer flexible living arrangements near the coast and downtown amenities.
Where is this duplex located?
The property is located at 481 Humphrey Street Swampscott, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two single‑family homes positioned on one lot; 2,471 square feet of property size; Located 0 to 1/10 Mile To Beach with public beach access
