Three-Unit Residential
For Sale
$724,900
61 Hilldale Ave, Haverhill, MA 01832
Three apartments feature separate utilities, tandem parking, and tenant-paid gas and electric.
Property Size2,064 SF
Price / SF$351.21
Days on Market118
Property Features for 61 Hilldale Ave
General Information
Standard status
Active
Size
2,064 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
Res
Net Operating Income
$48,600
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,270
Building Details
Building Size
2,064 SF
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
TLC Real Estate
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 5
Changed: Aug 29
Last Checked: Aug 29 at 3:52PM
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 TLC Real Estate
Investment Insights
Based on property information with market context.
This 2,064-square-foot triplex, built in 1900, contains three residential units. Each apartment offers 4 rooms, 2 bedrooms, and 1 bath, creating a consistent layout across the property. Vinyl siding and tandem parking are additional physical features, while separate utilities support individual tenant responsibility for gas and electric service.
The property is located at 61 Hilldale Ave in Haverhill, near downtown and a highway. It is zoned Res and has long-term tenants in place. The three-unit configuration and defined utility arrangement provide a straightforward residential income property profile.
The property is located at 61 Hilldale Ave in Haverhill, near downtown and a highway. It is zoned Res and has long-term tenants in place. The three-unit configuration and defined utility arrangement provide a straightforward residential income property profile.
Key Highlights
- Three‑unit triplex with 2,064 SF of residential space
- Each unit includes 4 rooms, 2 bedrooms, and 1 bath
- Separate utilities; tenants pay their own gas and electric
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
$34,771
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
4.80%
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%
$695,420
$695.4K
Cap Rate 7%
$496,729
$496.7K
Cap Rate 9%
$386,344
$386.3K
Market Conditions
NOI Build-Up for 2,064 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
$52.0K $25.20/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$49.7K $24.07/SF
− OpEx
−$14.9K −$7.22/SF
NOI
$34.8K $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%
$695,420
Cap Rate 7%
$496,729
Cap Rate 9%
$386,344
Alternative Uses
Best Use
Multifamily LT 5
$496.7K
$434.6K – $579.5K
NOI $34,771 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$448.4K
$392.3K – $523.1K
NOI $31,386 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,532 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
Explore this area
Business Placement
Demographics for 01832, MA
25,656
Population
10,735
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
11.4 sq mi
ZIP Area
2,251
Density / Sq Mi
$81,141
Median Household Income
$47,151
Median Earnings
$1,612
Median Rent
$410,300
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?
Triplex - Three apartments feature separate utilities, tandem parking, and tenant-paid gas and electric.
Where is this triplex located?
The property is located at 61 Hilldale Ave Haverhill, MA.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Three‑unit triplex with 2,064 SF of residential space; Each unit includes 4 rooms, 2 bedrooms, and 1 bath; Separate utilities; tenants pay their own gas and electric
