Duplex with Private
New
For Sale
$1,300,000
5 Landing Rd, Essex, MA 01929
Two attached residences provide separate entrances and direct access to a shared outdoor deck.
Property Size3,248 SF
Days on Market7
Property Features for 5 Landing Rd
General Information
Standard status
Active
Size
3,248 SF
Total Parking Spaces
10
Property subtype
Multifamily
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,555
Building Details
Building Size
3,248 SF
Year Built
2003
Listing Agency:
Coldwell Banker Realty - Manchester
Listed By:
Jeremy McElwain · License #9039667
(978) 927-8700
Source:
Classifiedrealtygroup
Added: Sep 29
Last Checked: Oct 4 at 7:02AM
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 - Manchester
Investment Insights
Based on property information with market context.
Built in 2003, this duplex contains two attached townhomes, each with a private entrance and garage. Both residences have two bedrooms and two full bathrooms. The first unit also includes an open kitchen, living, and dining area, a main-level half bath, office space, and private attic storage. The second has a flexible lower-level room and a full bathroom on the main floor.
Residents of both units can use the new deck, which faces a wooded setting. Hiking trails are across the street, downtown Essex is within walking distance, and a public boat launch is a short drive away.
Residents of both units can use the new deck, which faces a wooded setting. Hiking trails are across the street, downtown Essex is within walking distance, and a public boat launch is a short drive away.
Key Highlights
- Two attached townhomes in one duplex
- Private entrance and garage for each unit
- Both units have two bedrooms and two full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,716
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,094,320
$1.1M
Cap Rate 7%
$781,657
$781.7K
Cap Rate 9%
$607,956
$608.0K
Market Conditions
NOI Build-Up for 3,248 SF
Gross rent
$81.8K $25.20/SF
− Vacancy
−$3.7K −$1.13/SF
EGI
$78.2K $24.07/SF
− OpEx
−$23.4K −$7.22/SF
NOI
$54.7K $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%
$1,094,320
Cap Rate 7%
$781,657
Cap Rate 9%
$607,956
Alternative Uses
Best Use
Multifamily LT 5
$781.7K
$684.0K – $911.9K
NOI $54,716 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$705.6K
$617.4K – $823.2K
NOI $49,390 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,596 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 01929, MA
3,618
Population
1,527
Households
2.4
Avg Household Size
45
Median Age
69%
College-Educated
96%
High-School Grad
13.9 sq mi
ZIP Area
260
Density / Sq Mi
$151,509
Median Household Income
$66,033
Median Earnings
$1,828
Median Rent
$828,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two attached residences provide separate entrances and direct access to a shared outdoor deck.
Where is this duplex located?
The property is located at 5 Landing Rd Essex, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two attached townhomes in one duplex; Private entrance and garage for each unit; Both units have two bedrooms and two full bathrooms
