Top-Floor Residential Income
New
For Sale
$260,000
8 Carriage Hill Rd, Amesbury, MA 01913
Top-floor condo with updated kitchen, designated parking, and shared building laundry access.
Property Size667 SF
Price / SF$389.81
Days on Market4
Property Features for 8 Carriage Hill Rd
General Information
Standard status
Active
Size
667 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Asking Price
$260,000
Highway Access
Yes
Multifamily Units
1
Amenities
laundry room
Range
Dishwasher
Microwave
Refrigerator
Window Unit(s), Wall Unit(s)
Tile
Carpet
Baseboard
1.0 Story
$1,154 Taxes
Public
Built in 1968
Building Details
Year Built
1968
Listing Agency:
Berkshire Hathaway HomeServices Verani Realty
(603) 434-2377
Listed By:
Jeremy Nault
Source:
Donahuere
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 22 at 6:19AM
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 Berkshire Hathaway HomeServices Verani Realty
Investment Insights
Based on property information with market context.
This top-floor condominium at 8 Carriage Hill Rd, Unit 17, provides a two-bedroom, one-bath layout within 667 square feet. Built in 1968, the residence includes recent kitchen updates, one designated parking space, and access to a laundry room located within the building.
The property is in Amesbury’s Carriage Hill area, with Amesbury Town Park nearby. Downtown Amesbury offers dining, retail, historic mill character, and access to the Riverwalk area. Regional access includes I-95 and I-495.
The property is in Amesbury’s Carriage Hill area, with Amesbury Town Park nearby. Downtown Amesbury offers dining, retail, historic mill character, and access to the Riverwalk area. Regional access includes I-95 and I-495.
Key Highlights
- Two‑bedroom, one‑bath condo with 667 sq ft of living space
- Top‑floor unit with recent kitchen updates
- One designated parking spot
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
$10,143
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
3.90%
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%
$202,860
$202.9K
Cap Rate 7%
$144,900
$144.9K
Cap Rate 9%
$112,700
$112.7K
Market Conditions
NOI Build-Up for 667 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
$19.2K $28.80/SF
− Vacancy
−$768 −$1.15/SF
EGI
$18.4K $27.65/SF
− OpEx
−$8.3K −$12.44/SF
NOI
$10.1K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$202,860
Cap Rate 7%
$144,900
Cap Rate 9%
$112,700
Alternative Uses
Best Use
Apartment 5plus
$144.9K
$126.8K – $169.1K
NOI $10,143 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$394.9K
$345.5K – $460.7K
NOI $27,640 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
236
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor condo with updated kitchen, designated parking, and shared building laundry access.
Where is this residential income property located?
The property is located at 8 Carriage Hill Rd Amesbury, MA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath condo with 667 sq ft of living space; Top‑floor unit with recent kitchen updates; One designated parking spot
