Family Estates

- 154 Newbury St, Peabody, MA 01960

Introduction / Overview

For Massachusetts residents struggling with the high cost of living and the challenging real estate market of the North Shore, Family Estates Cooperative in Peabody offers a powerful and refreshing alternative. Located at the heart of Essex County’s commercial hub, this community is a highly valued Resident-Owned Community (

ROC

). This means that the residents themselves have collectively purchased the land and manage the park as a cooperative, giving every homeowner a vote, a voice, and a share of ownership in the entire community’s assets.

The co-op structure is a major advantage for local users, as it protects against the unpredictable rent hikes and arbitrary policies often associated with investor-owned parks. Instead, all profits are reinvested back into the community, ensuring low, stable monthly fees and continuous improvements to the infrastructure. With homes often selling within a very accessible price range compared to traditional single-family and condo units in Peabody, Family Estates Cooperative is a critical source of permanently affordable housing in a high-demand area. It represents a pathway to achieve the dream of homeownership without the crushing burden of a conventional Massachusetts mortgage. The community boasts a reputation for being friendly and quiet, with residents often noting a strong sense of safety and neighborly care.

Location and Accessibility

Family Estates Cooperative is situated at

154 Newbury St, Peabody, MA 01960, USA

, positioning it perfectly for convenience and commuting throughout the greater Boston area and the North Shore. Newbury Street, which is

U.S. Route 1

, is a major north-south artery, offering exceptional access to the region’s key destinations.

This prime location ensures that residents benefit from immediate and easy access to an extensive commercial and transportation network. The community is mere minutes from the on-ramps and off-ramps for

U.S. Route 1

and

Interstate 95 (I-95)

, making the daily commute for those working in cities like Boston, Cambridge, or points in southern New Hampshire highly manageable.

The accessibility is a cornerstone of the community’s appeal to Massachusetts locals:

• Shopping and Retail: The site is surrounded by a wealth of commercial amenities along the Route 1 corridor, including massive retail plazas and the nearby

  Northshore Mall

  , providing access to essential services, grocery stores (like Big Y World Class Market), and popular dining options.
• Public Transportation: While located conveniently near major highways, the area also offers proximity to public transit options, including MBTA bus routes that connect to central Peabody and surrounding towns, aiding those who rely on or prefer public transit during the day.
• Local Recreation: The area is known for its access to parks and recreational activities. Residents have noted the convenience of nearby dog parks, recreational fields, and the rail trail, offering great opportunities for walking, biking, and outdoor enjoyment for all ages.

The central Peabody location means excellent school systems and other municipal services are easily reachable, making it a viable and attractive place for families residing in Massachusetts.

Services Offered

As a well-managed cooperative, the monthly association fee at Family Estates is designed to be comprehensive and transparent, covering the major shared expenses of the community. This pooling of resources allows the member-owners to enjoy a lower overall cost of living. The fee typically includes, but is not limited to, the following essential services:

• Water and Sewer Utilities: The cost of public water and sewer service is generally included in the monthly co-op fee, removing these recurring expenses from the individual homeowner’s monthly budget.
• Real Estate Taxes: The taxes levied on the land and common areas owned by the co-op are covered by the association fee, simplifying the financial obligations for the homeowner.
• Refuse and Waste Removal: Reliable and regular trash and recycling collection services are provided for the entire community.
• Snow Plowing: Essential for New England winters, the cost of snow removal and plowing for the community’s shared roads and common areas is covered.
• Common Area Maintenance: Ongoing upkeep, repair, and preservation of the shared infrastructure, including internal roads, street lighting, and any common community spaces.
• Professional Management: The co-op often contracts with professional management companies, like The Abrams Management Company, Inc., to handle day-to-day administrative and financial operations, ensuring the community runs smoothly and efficiently.

Features / Highlights

Family Estates Cooperative is distinguished by several key features that enhance the quality of life and financial stability for Massachusetts residents:

• The Cooperative Model: As a Resident-Owned Community (ROC), stability is guaranteed. Homeowners are not tenants; they are shareholders in the land, meaning they control the budget and the monthly fees, which historically results in greater affordability over time.
• Affordable Path to Homeownership: With closed prices historically ranging from $50,000 to $165,000, the entry point for housing here is dramatically lower than the median home prices in the greater Peabody and North Shore region, making it accessible to a wider demographic of local buyers.
• Strong Sense of Community: Testimonials from residents highlight the neighborhood’s close-knit, friendly nature. Many residents have lived in the community for decades, creating a safe, stable, and welcoming environment for families and individuals alike.
• Direct Highway Access: The location directly off Route 1 (Newbury Street) provides unmatched convenience for North Shore commuters and makes access to shopping and services exceptionally fast.
• Private Yards and Parking: Most homes feature private yards and dedicated off-street parking for multiple cars, offering a level of privacy and utility often associated with conventional single-family homes.
• All-Ages Environment: The community is welcoming to people of all ages, from young families who appreciate the good local schools and parks to retirees seeking an affordable, stable place to downsize.
• Responsive Management and Resources: The resident-managed structure, often supported by professional oversight, ensures that concerns are addressed locally and resources are readily available. Reviews praise the helpfulness and resourcefulness of staff.

Contact Information

Family Estates Cooperative’s administrative and management details are typically handled through a dedicated co-op board and professional management company.

Address:

154 Newbury St, Peabody, MA 01960, USA

Phone and Management: For inquiries about available homes or the purchase process, prospective buyers are generally advised to contact a licensed real estate agent specializing in manufactured homes in Essex County, or the community’s management.

General Management Contact (The Abrams Management Company, Inc.):

(617) 424-1300

(This is a widely listed number for the park's management and should be used for initial contact regarding the co-op structure and approvals).

Conclusion: Why this place is suitable for locals

Family Estates Cooperative is perfectly suited for Massachusetts locals seeking to plant roots in the North Shore without the crushing financial burden of typical Essex County housing prices. It represents an ingenious solution to the affordability crisis in the region. By becoming a member-owner, residents secure a piece of the American dream at a fraction of the cost, ensuring financial stability through the resident-owned model which prioritizes low, stable fees over profit.

The combination of a supportive, neighborly environment—highlighted by resident reviews praising the safety and friendliness—and the superb logistical access is invaluable. Commuting, shopping, and accessing top-tier Peabody schools are made simple by the community’s immediate proximity to major highways and commercial centers. For those who want the independence of homeownership, the comfort of a quiet neighborhood, and a predictable, low-cost budget, Family Estates Cooperative is a highly practical, desirable, and community-focused choice that provides true value in the competitive Massachusetts real estate landscape.

Family Estates

154 Newbury St, Peabody, MA 01960, USA