Duplex Property With Accessory
For Sale
$1,195,000
7 Draper Dr, Wilmington, MA 01887
MULTI_FAMILY - Wilmington, MA
Property Size3,933 SF
Lot Size0.52 Acres
Price / SF$303.84
Days on Market8
Property Features for 7 Draper Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 3
Parking
6
Fireplace
1
Elementary school
Woburn St/North
Middle school
Wms
High school
Whs
Directions
Route 62 to Thrush Road or Marie Drive to Gunderson, follow to Draper Drive
Subdivision
North Wilmington
Standard status
Active
APN
M:0101 L:0016 P:0216,890403
Size
3,933 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10862
Building Details
Year built
1967
Floors in Building
4
Number of units
2
Listing Agency:
RE/MAX Encore · RE/MAX International
(978) 988-0028
Listed By:
Elaine Hoff · License #448500476
(978) 988-0028
Added: Aug 5
Changed: Aug 12
Last Checked: Aug 12 at 3:06PM
MLS# 73559454
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 duplex property combines a primary residence with a legal one-bedroom accessory apartment. The main home includes three bedrooms, hardwood flooring, an updated kitchen, open living and dining areas, and a three-season porch. Finished lower-level space adds a family or media room, full bath, laundry area, storage, a wood-burning fireplace, and access to the backyard and garage.
The accessory apartment has an open kitchen and living area, full bath, porch, and additional lower-level storage and family or media space. The property encompasses 3933 square feet on 0.52 acres and was built in 1967. Recent improvements include a new roof, new hot water tank, a four-year-old heating system, and a new septic distribution box. Res zoning applies. The property is located at 7 Draper Dr, Wilmington, MA 01887, approximately two minutes from Route 93 and the North Wilmington commuter rail station.
The accessory apartment has an open kitchen and living area, full bath, porch, and additional lower-level storage and family or media space. The property encompasses 3933 square feet on 0.52 acres and was built in 1967. Recent improvements include a new roof, new hot water tank, a four-year-old heating system, and a new septic distribution box. Res zoning applies. The property is located at 7 Draper Dr, Wilmington, MA 01887, approximately two minutes from Route 93 and the North Wilmington commuter rail station.
Key Highlights
- Legal one‑bedroom accessory apartment with kitchen, living area, full bath, porch, and lower‑level space
- Main residence offers three bedrooms with hardwood floors
- 3933 square feet on 0.52 acres
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
$83,224
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
6.96%
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%
$1,664,480
$1.7M
Cap Rate 7%
$1,188,914
$1.2M
Cap Rate 9%
$924,711
$924.7K
Market Conditions
NOI Build-Up for 3,933 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
$125.1K $31.80/SF
− Vacancy
−$6.2K −$1.57/SF
EGI
$118.9K $30.23/SF
− OpEx
−$35.7K −$9.07/SF
NOI
$83.2K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,664,480
Cap Rate 7%
$1,188,914
Cap Rate 9%
$924,711
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,224 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$1.12M
$978.2K – $1.30M
NOI $78,253 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $162,983 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Explore this area
Business Placement
Demographics for 01887, MA
23,349
Population
8,032
Households
2.9
Avg Household Size
42
Median Age
49%
College-Educated
97%
High-School Grad
17.0 sq mi
ZIP Area
1,373
Density / Sq Mi
$161,473
Median Household Income
$73,770
Median Earnings
$2,412
Median Rent
$646,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Main residence includes three bedrooms, finished lower-level space, and a three-season porch.
Where is this duplex located?
The property is located at 7 Draper Dr Wilmington, MA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Legal one‑bedroom accessory apartment with kitchen, living area, full bath, porch, and lower‑level space; Main residence offers three bedrooms with hardwood floors; 3933 square feet on 0.52 acres
