4-Unit Multifamily
New
For Sale
$949,900
8-10 School St, Amesbury, MA 01913
Vinyl siding and windows accompany off-street parking and basement storage space.
Property Size3,740 SF
Days on Market2
Property Features for 8-10 School St
General Information
Standard status
Active
Size
3,740 SF
Total Parking Spaces
6
Property subtype
Investment
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,949
Building Details
Building Size
3,740 SF
Year Built
1870
Buildings
1
Stories
4
Units
4
Listing Agency:
Properties Unlimited
Listed By:
Robert Palmisano · License #456000144
(978) 815-0941
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:43PM
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 Properties Unlimited
Investment Insights
Based on property information with market context.
Built in 1870, this four-unit multifamily property has vinyl siding and vinyl windows, with off-street parking for six vehicles. Basement space offers storage and could accommodate coin-operated laundry or individual storage areas. A third-floor area may support a fifth unit, but it requires complete rehabilitation before use.
A 7-25 letter addresses contamination-related impacts at 6 School St., identified as a vacant lot next to the property. Walk Score is 61 and Bike Score is 47; both are classified as somewhat walkable or somewhat bikeable, respectively.
A 7-25 letter addresses contamination-related impacts at 6 School St., identified as a vacant lot next to the property. Walk Score is 61 and Bike Score is 47; both are classified as somewhat walkable or somewhat bikeable, respectively.
Key Highlights
- Four‑unit building constructed in 1870
- Six off‑street parking spaces
- Potential fifth unit on the third floor requires complete rehab
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
$63,005
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
6.63%
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%
$1,260,100
$1.3M
Cap Rate 7%
$900,071
$900.1K
Cap Rate 9%
$700,056
$700.1K
Market Conditions
NOI Build-Up for 3,740 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
$94.2K $25.20/SF
− Vacancy
−$4.2K −$1.13/SF
EGI
$90.0K $24.07/SF
− OpEx
−$27.0K −$7.22/SF
NOI
$63.0K $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%
$1,260,100
Cap Rate 7%
$900,071
Cap Rate 9%
$700,056
Alternative Uses
Best Use
Multifamily LT 5
$900.1K
$787.6K – $1.05M
NOI $63,005 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$812.5K
$710.9K – $947.9K
NOI $56,872 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,985 @ 7.0% cap · market cap 16.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,028
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?
Quadplex - Vinyl siding and windows accompany off-street parking and basement storage space.
Where is this quadplex located?
The property is located at 8-10 School St Amesbury, MA.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Four‑unit building constructed in 1870; Six off‑street parking spaces; Potential fifth unit on the third floor requires complete rehab
