5 Northern Blvd Newbury — Photo 1 of 31
$990,000
Investment Analysis — 5 Northern Blvd
Newbury, MA 01951 — Plum Island
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-unit multi-family in 01951 carries an estimated $8,100/mo in gross rent — about a 6.83% cap rate and $67,611/yr in estimated NOI at the $990,000 list price. Adjust every assumption in the calculator below.
Beds
6
Baths
3
SqFt
1,810
Style
3 Family - 3 Units Side by Side
Built
1930
**Seller open to "seller-financing" / partnership structures. One of the most compelling redevelopment opportunity available on Plum Island, with the the property offering ocean views just steps to the beach & attractions. Situated on a 6,499sqft lot with 6 off-street parking spaces, the property is a grandfathered legal 3-family structure containing ~1,810sqft of living area. 2 potential development concepts may include: (1) three luxury 2-bedroom, 1-bath condos with parking & outdoor deck space; or (2) two larger 3-bedroom luxury condos with parking & outdoor deck space. Conceptual plans are available to qualified buyers. Additional development potential and/or expanded FAR (Floor Area Ratio) may be possible through future town permitting/approvals. Buyer to perform all due diligence. Seller/Seller's agent make no representations or warranties regarding the condition of the existing structure & do not represent the building as salvageable for renovation. Property sold as-is.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Neighborhood
Public Transportation • Shopping • Tennis Court(s) • Park • Walk/Jog Trails • Stable(s)
Geography
Property History
$990,000
Jun 15, 2026
MLS® 73535880
$1,000,000
Apr 30, 2026
MLS® 73451357
$1,000,000
Feb 28, 2026
MLS® 73451374
$1,000,000
Nov 5, 2025
MLS® 73451374
$1,000,000
Oct 29, 2025
MLS® 73451357
$999,999
Sep 30, 2024
MLS® 73209972
$999,999
Mar 7, 2024
MLS® 73209972
$299,900
May 25, 2010
MLS® 70534266
$299,900
Mar 3, 2007
MLS® 70534266
Listing Agent: The Bakhtiari Group
Listing Office: Compass
MLS® Number: 73535880
