Duplex With Large
For Sale
$749,900
829 W Lowell Ave, Haverhill, MA 01832
Two separate units and a private creek complement the property’s wooded setting.
Property Size4,196 SF
Lot Size1.00 Acre
Price / SF$178.72
Days on Market11
Property Features for 829 W Lowell Ave
General Information
Standard status
Active
Size
4,196 SF
Lot size
1.00 Acre
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,244
Listing Agency:
eXp Realty LLC - Corporate Office
(888) 854-7493
Listed By:
David Soto
(857) 756-2839
Source:
Exprealty
Added: Aug 31
Changed: Sep 8
Last Checked: Sep 9 at 5:50AM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
Located at 829 W Lowell Ave, this duplex comprises two separate residential units within a home-style property. A large basement provides additional space that may support living or other uses, subject to applicable requirements. The property occupies approximately 1 acre and includes wooded areas, natural greenery, berry patches, and a private creek. Across the street, a vineyard contributes to the surrounding visual context. The combination of two-unit configuration, basement space, and outdoor features gives the property a distinct residential character.
Key Highlights
- Two separate residential units
- Large basement with potential for additional living or usable space
- Approximately 1 acre of land
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
$63,806
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
8.51%
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%
$1,276,120
$1.3M
Cap Rate 7%
$911,514
$911.5K
Cap Rate 9%
$708,956
$709.0K
Market Conditions
NOI Build-Up for 4,196 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
$120.8K $28.80/SF
− Vacancy
−$4.8K −$1.15/SF
EGI
$116.0K $27.65/SF
− OpEx
−$52.2K −$12.44/SF
NOI
$63.8K $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%
$1,276,120
Cap Rate 7%
$911,514
Cap Rate 9%
$708,956
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$883.6K – $1.18M
NOI $70,687 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$911.5K
$797.6K – $1.06M
NOI $63,806 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$2.48M
$2.17M – $2.90M
NOI $173,881 @ 7.0% cap · market cap 23.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
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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
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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 - Two separate units and a private creek complement the property’s wooded setting.
Where is this duplex located?
The property is located at 829 W Lowell Ave Haverhill, MA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Two separate residential units; Large basement with potential for additional living or usable space; Approximately 1 acre of land
