Duplex with Bonus
For Sale
$749,000
6 Richs Court, Amesbury, MA 01913
Two-family property includes a second parcel with partially paved parking.
Property Size3,165 SF
Price / SF$236.65
Days on Market37
Property Features for 6 Richs Court
General Information
Standard status
Active
Size
3,165 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1850
Listing Agency:
Keller Williams Realty Evolution
Listed By:
Christian Smith
(617) 993-4639
Source:
Flowrealty
Added: Jul 4
Changed: Aug 8
Last Checked: Aug 8 at 3:39PM
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 duplex contains 3,165 square feet and dates to 1850, with one side identified as renovated. The property is offered with an additional parcel at 9 Richs Court, creating a two-parcel configuration at the end of a dead-end court. The second parcel is partially paved and provides additional parking. The property is located in downtown Amesbury near Market Square, with dining, shops, and the Riverwalk nearby. I-495 and I-95 are minutes away.
Key Highlights
- 3,165‑square‑foot duplex built in 1850
- Additional parcel at 9 Richs Court included
- Partially paved bonus lot provides extra 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
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road 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 property includes a second parcel with partially paved parking.
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: 3,165‑square‑foot duplex built in 1850; Additional parcel at 9 Richs Court included; Partially paved bonus lot provides extra parking
