Two-Unit Duplex with Separate
New
For Sale
$769,900
116-118 Dawes Street, Lawrence, MA 01841
Both residences have two bedrooms, kitchen pantries, and laundry hookups.
Property Size2,696 SF
Price / SF$285.57
Days on Market7
Property Features for 116-118 Dawes Street
General Information
Standard status
Active
Size
2,696 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
hardwood floors
natural light
laundry hookups
driveway parking
unfinished attic and basement storage
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Liriano Realty
Listed By:
The Liriano Team
(617) 372-1717
Source:
Merryfoxrealty
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 24 at 9:56PM
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 Liriano Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1920, this 2,696-square-foot duplex contains two residences, each arranged with two bedrooms, a kitchen and pantry, and laundry hookups. The property has four bedrooms and two full bathrooms overall, separate heating systems, and hardwood flooring. Unfinished attic and basement areas provide storage, while the driveway accommodates approximately 2–3 cars.
Recent work includes replacement of 75% of the roof in August 2025, following replacement of the east section in 2013. Kitchen hardwood flooring on the first floor was restored in 2025, and both units received water heaters in 2024; the first-floor oil burner was replaced that year as well. A front porch and foundation wall repairs were completed in 2022. Other updates include 37 Harvey windows and siding in 2007, a second-floor bathroom renovation in 2017, and conversion of the second-floor heating from oil to gas in 2015. The property is near shopping, dining, and major commuter routes.
Recent work includes replacement of 75% of the roof in August 2025, following replacement of the east section in 2013. Kitchen hardwood flooring on the first floor was restored in 2025, and both units received water heaters in 2024; the first-floor oil burner was replaced that year as well. A front porch and foundation wall repairs were completed in 2022. Other updates include 37 Harvey windows and siding in 2007, a second-floor bathroom renovation in 2017, and conversion of the second-floor heating from oil to gas in 2015. The property is near shopping, dining, and major commuter routes.
Key Highlights
- Two residences, each with 2 bedrooms, a kitchen pantry, and laundry hookups
- 2,696 square feet; built in 1920
- Four bedrooms and 2 full bathrooms total
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,417
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$908,340
$908.3K
Cap Rate 7%
$648,814
$648.8K
Cap Rate 9%
$504,633
$504.6K
Market Conditions
NOI Build-Up for 2,696 SF
Gross rent
$67.9K $25.20/SF
− Vacancy
−$3.1K −$1.13/SF
EGI
$64.9K $24.07/SF
− OpEx
−$19.5K −$7.22/SF
NOI
$45.4K $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 Rate 5%
$908,340
Cap Rate 7%
$648,814
Cap Rate 9%
$504,633
Alternative Uses
Best Use
Multifamily LT 5
$648.8K
$567.7K – $757.0K
NOI $45,417 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$585.7K
$512.5K – $683.3K
NOI $40,996 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,722 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
340
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms, kitchen pantries, and laundry hookups.
Where is this duplex located?
The property is located at 116-118 Dawes Street Lawrence, MA.
What is the asking price?
The asking price for this property is $769,900.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms, a kitchen pantry, and laundry hookups; 2,696 square feet; built in 1920; Four bedrooms and 2 full bathrooms total
