Two-Family Duplex with Ocean
For Sale
$799,000
74 Puritan Road, Swampscott, MA 01907
Two one-bedroom units offer in-unit laundry, wood floors, and shared basement storage.
Property Size1,449 SF
Price / SF$551.41
Days on Market84
Property Features for 74 Puritan Road
General Information
Standard status
Active
Size
1,449 SF
Property subtype
Multi-family
Building Details
Year Built
1850
Listing Agency:
J. Barrett & Company
(978) 273-5934
Listed By:
Felicia Trupiano · License #454006673
(978) 273-5934
Source:
Jbarrettrealty
Added: Jun 10
Changed: Aug 31
Last Checked: Aug 30 at 5:29PM
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 J. Barrett & Company
Investment Insights
Based on property information with market context.
Built in 1850, this 1,449-square-foot duplex contains two one-bedroom, one-bath residences. The first-floor unit includes hardwood flooring, a fireplaced living room, dining area, and kitchen, while the second residence has an open layout and private deck. Both units have in-unit laundry, with ocean and Boston skyline views adding a distinctive coastal setting.
The property is located at 74 Puritan Road in Swampscott, near beaches, downtown shops, restaurants, parks, and commuter rail service. Additional features include basement storage and a shared driveway. The home is also described as adaptable for single-family use or potential condo conversion.
The property is located at 74 Puritan Road in Swampscott, near beaches, downtown shops, restaurants, parks, and commuter rail service. Additional features include basement storage and a shared driveway. The home is also described as adaptable for single-family use or potential condo conversion.
Key Highlights
- Two one‑bedroom, one‑bath units within a 1,449‑square‑foot duplex
- Ocean and Boston skyline views
- In‑unit laundry in both residences
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
$24,410
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
3.06%
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%
$488,200
$488.2K
Cap Rate 7%
$348,714
$348.7K
Cap Rate 9%
$271,222
$271.2K
Market Conditions
NOI Build-Up for 1,449 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
$36.5K $25.20/SF
− Vacancy
−$1.6K −$1.13/SF
EGI
$34.9K $24.07/SF
− OpEx
−$10.5K −$7.22/SF
NOI
$24.4K $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%
$488,200
Cap Rate 7%
$348,714
Cap Rate 9%
$271,222
Alternative Uses
Best Use
Multifamily LT 5
$348.7K
$305.1K – $406.8K
NOI $24,410 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$314.8K
$275.4K – $367.2K
NOI $22,034 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$857.8K
$750.6K – $1.00M
NOI $60,046 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Explore this area
Business Placement
Demographics for 01907, MA
15,148
Population
6,666
Households
2.3
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
3.0 sq mi
ZIP Area
5,049
Density / Sq Mi
$127,714
Median Household Income
$70,837
Median Earnings
$2,206
Median Rent
$690,800
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 one-bedroom units offer in-unit laundry, wood floors, and shared basement storage.
Where is this duplex located?
The property is located at 74 Puritan Road Swampscott, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two one‑bedroom, one‑bath units within a 1,449‑square‑foot duplex; Ocean and Boston skyline views; In‑unit laundry in both residences
