Updated 4-Unit
494-496 Main Street, Haverhill, MA 01830
For Sale
New
$1,100,000
The property combines two larger apartments with two one-bedroom units, each renovated within the past five years.
Property Size4,547 SF
Price / SF$241.92
Days on Market5
Property Features for 494-496 Main Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Sprinkler System
Tenant in Place
Building Details
Year Built
Listing Agency:
Coldwell Banker Realty - Haverhill
Listed By:
Michelle Conceicao · License #452018040
(774) 254-1865
Source:
Stevebremis
Added: Nov 5
Changed: Nov 8
Last Checked: Nov 8 at 5:47AM
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 - Haverhill
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,547-square-foot quadplex, built in 1900, contains two 4-bedroom apartments and two 1-bedroom apartments. Improvements completed within the last five years include updates to all four units, new electrical service, a sprinkler system, and a commercial fire alarm. Three of the four water heaters and three of the four boilers have also been replaced. The roof dates to approximately 2017.
All four apartments are leased on a month-to-month basis. The property also includes four off-street parking spaces.
All four apartments are leased on a month-to-month basis. The property also includes four off-street parking spaces.
Key Highlights
- Four apartments: two 4‑bedroom units and two 1‑bedroom units
- 4,547 square feet; built in 1900
- All units updated within the last five years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,600
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,532,000
$1.5M
Cap Rate 7%
$1,094,286
$1.1M
Cap Rate 9%
$851,111
$851.1K
Market Conditions
NOI Build-Up for 4,547 SF
Gross rent
$114.6K $25.20/SF
− Vacancy
−$5.2K −$1.13/SF
EGI
$109.4K $24.07/SF
− OpEx
−$32.8K −$7.22/SF
NOI
$76.6K $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 Rate 5%
$1,532,000
Cap Rate 7%
$1,094,286
Cap Rate 9%
$851,111
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$957.5K – $1.28M
NOI $76,600 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$987.8K
$864.3K – $1.15M
NOI $69,144 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$2.69M
$2.36M – $3.14M
NOI $188,427 @ 7.0% cap · market cap 17.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
718
Businesses Nearby
Explore this area
Business Placement
Demographics for 01830, MA
27,553
Population
11,159
Households
2.5
Avg Household Size
41
Median Age
30%
College-Educated
89%
High-School Grad
13.9 sq mi
ZIP Area
1,982
Density / Sq Mi
$79,784
Median Household Income
$49,289
Median Earnings
$1,602
Median Rent
$436,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - The property combines two larger apartments with two one-bedroom units, each renovated within the past five years.
Where is this quadplex located?
The property is located at 494-496 Main Street Haverhill, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four apartments: two 4‑bedroom units and two 1‑bedroom units; 4,547 square feet; built in 1900; All units updated within the last five years
