Two-Family Residential Income
293 Albion St Wakefield, MA 01880
293 Albion St, Wakefield, MA, 01880
$799,000
For Sale
$799,000
MULTI_FAMILY - Wakefield, MA
Property Size1,942 SF
Lot Size0.07 Acres
Price / SF$411.43
Days on Market99
Property Features for 293 Albion St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- GR
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 4, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 3
- Parking
- 2
- Fireplace
- 1
- Standard status
- Active
- APN
- M:000008 B:0245 P:000142,816413
- Size
- 1,942 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7783
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Number of units
- 2
Listing agency
Keller Williams Realty
(978) 475-2111
Listed by
Susan Rochwarg
(978) 475-2111
Added: Apr 15 Updated: Jul 21 at 4:30PM Checked: Jul 22 at 6:06AM
MLS# 73501978
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 home offers classic character with hardwood floors throughout and high ceilings that add an open, spacious feel. The first-floor unit includes one bedroom and three large rooms. The second-floor unit is notably larger, with five bedrooms and nine rooms, providing a range of layout options for an owner-occupant or a tenant seeking more space.
Located in Wakefield, the property is positioned for commuter convenience. It is described as being close to the Commuter Rail station and the Wakefield/Reading bus stop, with quick access to Routes 128/95 and 93. The listing also notes nearby access to Lake Quannapowitt and shopping and dining in downtown Wakefield.
With two distinct floor plates and a zoning designation of GR, the home may suit buyers looking for either an owner-occupant setup or an investor structure that pairs a smaller first-floor unit with a significantly larger upper unit. The size and room counts reflected in the listing support a tenant mix that can accommodate different household needs within the same property.
Located in Wakefield, the property is positioned for commuter convenience. It is described as being close to the Commuter Rail station and the Wakefield/Reading bus stop, with quick access to Routes 128/95 and 93. The listing also notes nearby access to Lake Quannapowitt and shopping and dining in downtown Wakefield.
With two distinct floor plates and a zoning designation of GR, the home may suit buyers looking for either an owner-occupant setup or an investor structure that pairs a smaller first-floor unit with a significantly larger upper unit. The size and room counts reflected in the listing support a tenant mix that can accommodate different household needs within the same property.
Key Highlights
- Two‑family home at 293 Albion St with classic character, hardwood floors, and high ceilings
- Second‑floor unit features nine rooms and five bedrooms
- First‑floor unit offers three large rooms plus one bedroom
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.8k | $31.80 |
| − Vacancy | −$3.1k | −$1.57 |
| EGI | $58.7k | $30.23 |
| − OpEx | −$17.6k | −$9.07 |
| NOI | $41.1k | $21.16 |
1,942 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$587.0K
$513.7K – $684.9K
NOI $41,093 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$552.0K
$483.0K – $644.0K
NOI $38,639 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,476 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separate units with hardwood floors and high ceilings, offering flexible living or rental layouts in Wakefield.
Where is this duplex located?
The property is located at 293 Albion St Wakefield, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑family home at 293 Albion St with classic character, hardwood floors, and high ceilings; Second‑floor unit features nine rooms and five bedrooms; First‑floor unit offers three large rooms plus one bedroom
