Two-Unit Residential Income
For Sale
$899,900
8 Ballard Street, Saugus, MA 01906
Move-in-ready duplex on a corner lot with two separate units, screened porch, and a detached 2-car garage with loft.
Property Size2,302 SF
Price / SF$390.92
Days on Market113
Property Features for 8 Ballard Street
General Information
Standard status
Active
Size
2,302 SF
Total Parking Spaces
8
Property subtype
Multi-family
Additional Details
Business Included
Yes
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Lamacchia Realty,Inc.
Listed By:
Rosalee DiScipio
(978) 210-6060
Source:
Longwoodresidential
Added: May 26
Changed: Sep 15
Last Checked: Sep 9 at 8:39PM
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 Lamacchia Realty,Inc.
Investment Insights
Based on property information with market context.
This beautifully maintained two-family home is offered with true move-in-ready condition and two separate units. Each unit operates with separate utilities. The first-floor unit provides single-level living along with dedicated basement space. The second-floor unit includes two levels of living space and additional flexible upper-level room that can serve multiple uses. The home also features a welcoming screened porch and a spacious yard.
The property sits on a corner lot and includes a detached 2-car garage with an oversized loft space above, which can support a variety of creative, work, or storage needs. A 6-car driveway and fresh paint are noted among the improvements.
With separate utilities, multi-level flexibility in the upper unit, and supplemental garage loft space, the configuration is well suited for both owner-occupants and income-focused buyers seeking a turnkey setup.
The property sits on a corner lot and includes a detached 2-car garage with an oversized loft space above, which can support a variety of creative, work, or storage needs. A 6-car driveway and fresh paint are noted among the improvements.
With separate utilities, multi-level flexibility in the upper unit, and supplemental garage loft space, the configuration is well suited for both owner-occupants and income-focused buyers seeking a turnkey setup.
Key Highlights
- 2‑family home built in 1890 with two separate units and separate utilities
- Corner lot with a spacious yard and screened porch
- Detached 2‑car garage with oversized loft space above
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
$38,780
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
4.31%
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%
$775,600
$775.6K
Cap Rate 7%
$554,000
$554.0K
Cap Rate 9%
$430,889
$430.9K
Market Conditions
NOI Build-Up for 2,302 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
$58.0K $25.20/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$55.4K $24.07/SF
− OpEx
−$16.6K −$7.22/SF
NOI
$38.8K $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%
$775,600
Cap Rate 7%
$554,000
Cap Rate 9%
$430,889
Alternative Uses
Best Use
Multifamily LT 5
$554.0K
$484.8K – $646.3K
NOI $38,780 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$500.1K
$437.6K – $583.4K
NOI $35,005 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,394 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Explore this area
Business Placement
Demographics for 01906, MA
28,619
Population
11,259
Households
2.5
Avg Household Size
45
Median Age
31%
College-Educated
91%
High-School Grad
11.6 sq mi
ZIP Area
2,467
Density / Sq Mi
$100,819
Median Household Income
$52,189
Median Earnings
$1,982
Median Rent
$589,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Move-in-ready duplex on a corner lot with two separate units, screened porch, and a detached 2-car garage with loft.
Where is this duplex located?
The property is located at 8 Ballard Street Saugus, MA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 2‑family home built in 1890 with two separate units and separate utilities; Corner lot with a spacious yard and screened porch; Detached 2‑car garage with oversized loft space above
