Two-Family Duplex with Detached
For Sale
$624,900
Pending
13 Woodland St, Lawrence, MA 01841
Residential Income, Lawrence, MA
Property Size1,996 SF
Lot Size0.16 Acres
Days on Market33
Property Features for 13 Woodland St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 4
Parking
8
Elementary school
Lps
Middle school
Lps
High school
Lps
Directions
Take Marston Street exit from 495. Follow to Canal Street, then Union and to Woodland, or GPS
Subdivision
North Lawrence
Standard status
Pending
APN
M:0049 B:0000 L:0059 1,4737289
Size
1,996 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4694
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Innovative Properties · RE/MAX International
(978) 452-4432
Listed By:
Joshua Naughton · License #57445
(603) 434-4101
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 31 at 7:06AM
MLS# 73557370
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family duplex contains 1,996 square feet and was built in 1900. Both units are configured with three bedrooms, while the first-floor residence has been recently updated and is scheduled to be delivered vacant. A detached garage and off-street parking add functional support to the property. Unit 1 also has a Lead Paint Certificate.
The property occupies 0.1552 acres in Lawrence, Massachusetts, and carries R-2 zoning. Its two-unit layout provides separate residential spaces within a single multifamily building, with the vacant first floor available for a new occupant or repositioning by the next owner.
The property occupies 0.1552 acres in Lawrence, Massachusetts, and carries R-2 zoning. Its two-unit layout provides separate residential spaces within a single multifamily building, with the vacant first floor available for a new occupant or repositioning by the next owner.
Key Highlights
- Two‑family duplex with 1,996 square feet
- Each unit includes three bedrooms
- First floor recently updated and delivered vacant
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
$33,625
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
5.38%
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%
$672,500
$672.5K
Cap Rate 7%
$480,357
$480.4K
Cap Rate 9%
$373,611
$373.6K
Market Conditions
NOI Build-Up for 1,996 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
$50.3K $25.20/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$48.0K $24.07/SF
− OpEx
−$14.4K −$7.22/SF
NOI
$33.6K $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%
$672,500
Cap Rate 7%
$480,357
Cap Rate 9%
$373,611
Alternative Uses
Best Use
Multifamily LT 5
$480.4K
$420.3K – $560.4K
NOI $33,625 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$433.6K
$379.4K – $505.9K
NOI $30,352 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,714 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,961
Businesses Nearby
Explore this area
Business Placement
Demographics for 01841, MA
53,654
Population
17,546
Households
3.1
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
3.0 sq mi
ZIP Area
17,885
Density / Sq Mi
$54,525
Median Household Income
$34,741
Median Earnings
$1,565
Median Rent
$393,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units include a recently updated first floor and off-street parking.
Where is this duplex located?
The property is located at 13 Woodland St Lawrence, MA.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Two‑family duplex with 1,996 square feet; Each unit includes three bedrooms; First floor recently updated and delivered vacant
