Real Estate Investing in North Andover, Massachusetts (01845)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 01845 (North Andover, MA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in North Andover, MA (01845)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 01845 North Andover
The 01845 ZIP covers a section of North Andover that demands careful diligence. Prices near $821K look accessible, but the work to make a deal cash flow is real.
For an experienced owner, 01845 can be a a credible choice for hunting ground — but the discount at $821K reflects genuine risk that outside investors often underestimate.
Within MA, ZIP 01845 trails on several market indicators that neighboring Essex County submarkets outperform. The gap is real and resilient enough to shape underwriting.
From a cash-flow lens, 31,881 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 01845 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in North Andover:
Property Strategy for 01845
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $302,933 | $2,280 | 5.4% | +6.6% | $302,933 |
| 2BR | $430,511 | $2,990 | 5.0% | +7.2% | $215,256 |
| 3BR | $709,384 | $3,590 | 3.6% | +6.9% | $236,461 |
| 4BR | $1,035,529 | $3,960 | 2.8% | +8.5% | $258,882 |
| 5BR | $1,213,413 | — | — | +9.2% | $242,683 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 01845 Compare?
| Metric | 01845 | North Andover | Massachusetts |
|---|---|---|---|
| Home Value | $820,591 | $820,591 | $645,115 |
| 5-Year CAGR | 5.1% | 5.1% | 7.0% |
| Avg Rent | $2,851 | $2,851 | - |
| Cap Rate | 2.7% | 2.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 01845 (North Andover, MA). Anonymous, moderated, never written by AI.
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Property managers serving Essex County
Manage rentals here? List your business →MRS Property Management offers full-service property management and tenant placement for apartments, houses, and commercial rentals across the North Shore area and Southern New Hampshire. summary from their website
CNR Property Management provides expert property management and maintenance solutions. summary from their website
This domain is for sale for $2,295 or monthly payments. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $820,591 |
| Monthly Rent | $2,851 |
| Price-to-Rent | 24.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 7.8% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 Rent Trends
| 1-Year | +7.5% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +6.7% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 01845
Population: 31,881
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 01845
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,956 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is North Andover, MA a smart market for rental property?
Our data puts North Andover, MA at 3.0/5 for investability. Home prices of $821K and rents around $2,851/mo create a solid backdrop for investor activity.
Where do rents currently stand in North Andover, MA?
Rents in North Andover, MA run near $2,851/mo. Compared with median home prices of $821K that produces solid gross yields for typical rentals.
Is North Andover, MA landlord-friendly?
North Andover, MA operates under MA law, which is tenant-protective overall for landlords. Expect measured treatment in typical lease and eviction cases.
Is house hacking profitable in North Andover, MA?
The house hack math a challenging in North Andover, MA. Owner-occupant buyers benefit from the $2,851/mo rents and $821K home values.
How tight is the rental market in North Andover, MA?
North Andover, MA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 01845 now. You don’t know where it ranks.
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How 01845 ranks in Boston-Cambridge-Newton, MA-NH
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