Two-Family with Additional
For Sale
$749,000
6 Richs Court, Amesbury, MA 01913
Two-family residence with a renovated unit and an added partially paved lot across the court for parking possibilities.
Property Size3,165 SF
Price / SF$236.65
Days on Market36
Property Features for 6 Richs Court
General Information
Standard status
Active
Size
3,165 SF
Property subtype
2 Family - 2 Units Side by Side
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1850
Listing Agency:
Keller Williams Realty Evolution
(978) 480-8571
Listed By:
Christian Smith · License #9562002
(978) 480-8571
Source:
Lockandkeyre
Added: Jul 9
Changed: Aug 12
Last Checked: Aug 12 at 6:09AM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
This two-family property is offered with an additional parcel at 9 Richs Court. The home includes a renovated side intended for owner occupancy, with the second unit providing rental income to offset the mortgage.
The combined parcels are set at the end of a quiet dead-end court in downtown Amesbury, near Market Square. A bonus lot across the court is partially paved and can be used for extra parking. The seller notes potential for an oversized garage with an ADU above, with buildability and permitted uses to be verified by the buyer.
Convenience is a key element of the offering, with proximity to downtown dining, shops, and the Riverwalk, and minutes to I-495 and I-95.
The combined parcels are set at the end of a quiet dead-end court in downtown Amesbury, near Market Square. A bonus lot across the court is partially paved and can be used for extra parking. The seller notes potential for an oversized garage with an ADU above, with buildability and permitted uses to be verified by the buyer.
Convenience is a key element of the offering, with proximity to downtown dining, shops, and the Riverwalk, and minutes to I-495 and I-95.
Key Highlights
- Two‑family residence built in 1850 with a renovated unit
- Includes an additional parcel at 9 Richs Court, offered together with the main property
- Bonus lot across the court is partially paved for additional parking
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
$53,318
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
7.12%
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%
$1,066,360
$1.1M
Cap Rate 7%
$761,686
$761.7K
Cap Rate 9%
$592,422
$592.4K
Market Conditions
NOI Build-Up for 3,165 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
$79.8K $25.20/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$76.2K $24.07/SF
− OpEx
−$22.9K −$7.22/SF
NOI
$53.3K $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%
$1,066,360
Cap Rate 7%
$761,686
Cap Rate 9%
$592,422
Alternative Uses
Best Use
Multifamily LT 5
$761.7K
$666.5K – $888.6K
NOI $53,318 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$687.5K
$601.6K – $802.1K
NOI $48,128 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,157 @ 7.0% cap · market cap 17.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
Explore this area
Business Placement
Demographics for 01913, MA
17,366
Population
7,827
Households
2.2
Avg Household Size
44
Median Age
43%
College-Educated
95%
High-School Grad
12.3 sq mi
ZIP Area
1,412
Density / Sq Mi
$100,599
Median Household Income
$60,627
Median Earnings
$1,573
Median Rent
$475,400
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-family residence with a renovated unit and an added partially paved lot across the court for parking possibilities.
Where is this duplex located?
The property is located at 6 Richs Court Amesbury, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑family residence built in 1850 with a renovated unit; Includes an additional parcel at 9 Richs Court, offered together with the main property; Bonus lot across the court is partially paved for additional parking
