Five-Unit Apartment
New
For Sale
$1,650,000
83 Holten St, Danvers, MA 01923
Well-maintained multifamily property with updated apartment finishes, central air, and a combination of garage and exterior parking.
Property Size3,809 SF
Price / SF$433.18
Days on Market6
Property Features for 83 Holten St
General Information
Standard status
Active
Size
3,809 SF
Property subtype
5+ Family - 5+ Units Up/Down
Building Details
Building Size
3,809 SF
Year Built
2011
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste
(413) 786-0584
Source:
Iverty
Added: Sep 10
Changed: Sep 15
Last Checked: Sep 15 at 6:10AM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
Located at 83 Holten Street in Danvers, this 3,809-square-foot apartment building was constructed in 2011 and contains five one-bedroom residences. The property features stainless steel appliances, granite countertops, forced hot-air heating, and central air conditioning across the units. Two apartments have private garage parking, while eight additional exterior spaces serve the remaining residences.
The building offers a newer construction profile and has been maintained in clean condition. Its Danvers location provides access to major highways, shopping, restaurants, and other area amenities, supporting convenient day-to-day access for residents.
The building offers a newer construction profile and has been maintained in clean condition. Its Danvers location provides access to major highways, shopping, restaurants, and other area amenities, supporting convenient day-to-day access for residents.
Key Highlights
- Five one‑bedroom apartment units
- 3,809 square feet; built in 2011
- Stainless steel appliances and granite countertops
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
$57,921
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
3.51%
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%
$1,158,420
$1.2M
Cap Rate 7%
$827,443
$827.4K
Cap Rate 9%
$643,567
$643.6K
Market Conditions
NOI Build-Up for 3,809 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
$109.7K $28.80/SF
− Vacancy
−$4.4K −$1.15/SF
EGI
$105.3K $27.65/SF
− OpEx
−$47.4K −$12.44/SF
NOI
$57.9K $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%
$1,158,420
Cap Rate 7%
$827,443
Cap Rate 9%
$643,567
Alternative Uses
Best Use
Apartment 5plus
$827.4K
$724.0K – $965.4K
NOI $57,921 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,844 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Explore this area
Business Placement
Demographics for 01923, MA
27,987
Population
11,405
Households
2.5
Avg Household Size
46
Median Age
47%
College-Educated
95%
High-School Grad
13.2 sq mi
ZIP Area
2,120
Density / Sq Mi
$117,072
Median Household Income
$59,916
Median Earnings
$2,004
Median Rent
$611,200
Median Home Value
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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?
Apartment building - Well-maintained multifamily property with updated apartment finishes, central air, and a combination of garage and exterior parking.
Where is this apartment building located?
The property is located at 83 Holten St Danvers, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Five one‑bedroom apartment units; 3,809 square feet; built in 2011; Stainless steel appliances and granite countertops
