Three-Unit Residential Income
109 Ferry Street Lawrence, MA 01841
109 Ferry Street, Lawrence, MA, 01841
$899,900
For Sale
$899,900
Well-maintained three-family home configured with three rental units and multiple bedrooms across 19 rooms.
Property Size5,079 SF
Price / SF$177.18
Days on Market130
Property Features for 109 Ferry Street
General Information
- Standard status
- Active
- Size
- 5,079 SF
- Property subtype
- Multi-family / 3 Family - 3 Units Up/Down
Building Details
- Year Built
- 1910
Listing agency
Berkshire Hathaway HomeServices Verani Realty Methuen
(978) 687-8484
Listed by
Juan Marte · License #9059536
(978) 687-8484
Source
Compass
Added: Mar 15 Updated: Jul 22 at 11:24AM Checked: Jul 22 at 11:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices Verani Realty Methuen
Investment Insights
Based on property information with market context.
This well-maintained three-family residence is offered for sale as a residential income property. The home includes 19 rooms and 11 bedrooms, with four full bathrooms serving the overall building configuration. Units 1, 2, and 3 are each described as having spacious, naturally lit layouts and are positioned for rental income.
The property is located at 109 Ferry Street in Lawrence, Massachusetts, in the Prospect Hill area. The public remarks describe the asset as an actively managed rental collection opportunity.
Across the three units, the building provides generous living space with multiple bedrooms and full bathrooms, supporting long-term tenant occupancy and consistent rental collection through the three-unit configuration.
The property is located at 109 Ferry Street in Lawrence, Massachusetts, in the Prospect Hill area. The public remarks describe the asset as an actively managed rental collection opportunity.
Across the three units, the building provides generous living space with multiple bedrooms and full bathrooms, supporting long-term tenant occupancy and consistent rental collection through the three-unit configuration.
Key Highlights
- Well‑maintained three‑family home with 3 rental units
- 19 rooms, 11 bedrooms, and 4 full baths total
- Full, walk‑out basement
Local Financial Insights For Apartment 5plus
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 | $146.3k | $28.80 |
| − Vacancy | −$5.9k | −$1.15 |
| EGI | $140.4k | $27.65 |
| − OpEx | −$63.2k | −$12.44 |
| NOI | $77.2k | $15.21 |
5,079 SF · lease $28.80/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.43M
NOI $85,562 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$1.10M
$965.4K – $1.29M
NOI $77,233 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,472 @ 7.0% cap · market cap 23.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-family home configured with three rental units and multiple bedrooms across 19 rooms.
Where is this triplex located?
The property is located at 109 Ferry Street Lawrence, MA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Well‑maintained three‑family home with 3 rental units; 19 rooms, 11 bedrooms, and 4 full baths total; Full, walk‑out basement
