$805,000
●
Multifamily -
Off Market
40 Cherry St
Danvers, MA 01923
5 Beds
3 Baths
2,076 Ft²
$4,484
Est. Monthly
5.99%
Cap Rate
About This Property
Close to Downtown This 2 Family is Currently being used as a 1
family. Features 2 Units, The Left side has Living room with
decorative fireplace ( non functioning), Dining/Family Room, Large
eat-in Kitchen, Office, Private enclosed porch and 3/4 bath all on
first floor. Upstairs has 3 bedrooms and a Full Bath.
The Right Unit has Large Entry Foyer open to Living Room,
Large Eat in Kitchen and private covered porch., upstairs has 2
large bedrooms and a full bath. Full basement has 2 separate
oil Forced hot air oil furnaces and separate gas hot water heaters,
separate Gas Meters and separate 100 amp c.b. electric meters.,
All sitting on a sprawling level lot. Short walk to Library
or many downtown restaurants and shopping. Note: 1st
showings at Open House Sunday August 3rd, 2025 from 12 - 2 pm.
Any offers submit to listing broker on or before 6 pm Tuesday
August 5th 2025.
Unit Size
2,076 Ft²
Days on Market
-
Land Size
0.33 acres
Price per sqft
$376
Property Type
Multifamily
Property Taxes
$654
HOA Dues
-
Year Built
1867
Payment Calculator
Home Price
Down Payment
%
Loan Term
Interest %
Your Estimated Monthly Payment
Principal + Interest:
Property Tax:
HOA:
Home Insurance:
Mortgage Insurance:
Cap Rate Calculator
Purchase Price
Monthly Property Taxes
Monthly Rental Income
Maintenance & HOA
Income Per Year
Expenses Per Year
Operating Profit Per Year
Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 2 years ago (MLSPIN #73412478)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 29, 2025 | Sold | ||
| Sold | |||
| Aug 6, 2025 | In contract | - | |
| In contract | |||
| Aug 1, 2025 | Listed by The Thomson Companies | $779,900 | |
| Listed by The Thomson Companies | |||
Property Highlights
Parking Available
Fireplace
Parking Details
Parking Features: Off Street
Interior Details
Full Bathrooms: 3
Interior Features: Bathroom with Shower Stall, Bathroom With Tub, Bathroom With Tub & Shower, Living Room, Kitchen, Family Room
Appliances: Range, Dishwasher, Refrigerator
Flooring Type: Wood
Rooms: 12
Has Fireplace
Fireplaces: 1
Basement: Full, Unfinished
Exterior Details
Square Footage: 2076
Year Built Source: Public Records
Year Built: 1867
Waterfront Features: River, 1/2 to 1 Mile To Beach, Beach Ownership(Public)
Building Area Total: 2076
Levels: 4
Other Structures: Shed(s)
Building Area Units: Square Feet
Window Features: Insulated Windows
Patio and Porch Features: Enclosed
Lot Features: Level
Lot Size Area: 0.33
Lot Size Units: Acres
Lot Size Acres: 0.33
Lot Size Square Feet: 14501
Water Source: Public
Financial Details
Tax Assessed Value: $713,700
Tax Annual Amount: $7,844
Utilities Details
Heating Type: Forced Air, Oil
Sewer : Public Sewer
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
08/01/2025
| |
5 Bed
|
3 Bath
|
2076 ft²
|
$779,900
5 Bed
3 Bath
2076 ft²
|
$805,000
+3.22%
09/29/2025
|
John Thomson
The Thomson Companies
|
Building Info
Your Privacy Choices
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017