Triplex with Separate
For Sale
$899,000
9 Pilgrim Road, Haverhill, MA 01832
Residential income property with three distinct units and flexible bedroom layouts.
Property Size4,446 SF
Price / SF$202.20
Days on Market194
Property Features for 9 Pilgrim Road
General Information
Standard status
Active
Size
4,446 SF
Total Parking Spaces
4
Property subtype
Multi-family / 3 Family - 3 Units Up/Down
Zoning
Res
Net Operating Income
$63,600
Units
Unit Mix
2 x 4BR, 1 x 3BR/1.5BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,436
Amenities
City/Town Sewer, Public
No, Yes, .00, Paved Drive, Paved Drive
No
Wood, Vinyl
Range, Refrigerator
4.0
Interior Access
Living Room, Dining Room, Kitchen
3
1
3.50
4
Frame
Shingle
Cleared, Level
Porch, Patio
Building Details
Year Built
1910
Buildings
1
Listing Agency:
RE/MAX Main St. Associates
(978) 373-6033
Listed By:
Edward Mahoney · License #54012
(978) 373-6033
Source:
Compass
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 1:48PM
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 RE/MAX Main St. Associates
Investment Insights
Based on property information with market context.
This 4,446-square-foot triplex, built in 1910, contains three residential units with separate utilities. The property has vinyl siding, replacement windows, hardwood floors, newer appliances, newer hot water tanks, and select original details. Exterior features include a porch and patio, while the site is cleared and level.
Two units each include four bedrooms and layouts that may accommodate a fifth bedroom. The third unit has three bedrooms and 1.5 baths, with the possibility of restoring its earlier seven-room, 4–5 bedroom configuration. A basement ADU may also be possible, subject to buyer due diligence and City of Haverhill requirements and approvals. The property is zoned Res and located at 9 Pilgrim Road in Haverhill, Massachusetts.
Two units each include four bedrooms and layouts that may accommodate a fifth bedroom. The third unit has three bedrooms and 1.5 baths, with the possibility of restoring its earlier seven-room, 4–5 bedroom configuration. A basement ADU may also be possible, subject to buyer due diligence and City of Haverhill requirements and approvals. The property is zoned Res and located at 9 Pilgrim Road in Haverhill, Massachusetts.
Key Highlights
- 4,446‑square‑foot triplex with 3 residential units
- Separate utilities serve the three units
- Two units offer 4 bedrooms each, with layouts that may accommodate a fifth bedroom
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
$74,898
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
8.33%
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%
$1,497,960
$1.5M
Cap Rate 7%
$1,069,971
$1.1M
Cap Rate 9%
$832,200
$832.2K
Market Conditions
NOI Build-Up for 4,446 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
$112.0K $25.20/SF
− Vacancy
−$5.0K −$1.13/SF
EGI
$107.0K $24.07/SF
− OpEx
−$32.1K −$7.22/SF
NOI
$74.9K $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%
$1,497,960
Cap Rate 7%
$1,069,971
Cap Rate 9%
$832,200
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$936.2K – $1.25M
NOI $74,898 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$965.8K
$845.1K – $1.13M
NOI $67,608 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$2.63M
$2.30M – $3.07M
NOI $184,241 @ 7.0% cap · market cap 20.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Residential income property with three distinct units and flexible bedroom layouts.
Where is this triplex located?
The property is located at 9 Pilgrim Road Haverhill, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 4,446‑square‑foot triplex with 3 residential units; Separate utilities serve the three units; Two units offer 4 bedrooms each, with layouts that may accommodate a fifth bedroom
