North Lawrence Multi-Family
For Sale
$875,000
Pending
192 Un, Lawrence, MA 01841
Fully tenanted 3-family property in North Lawrence.
Property Size4,576 SF
Lot Size0.05 Acres
Days on Market165
Property Features for 192 Un
General Information
Standard status
Pending
Size
4,576 SF
Lot size
0.05 Acres
Property subtype
Investment
Building Details
Building Size
4,576 SF
Year Built
1920
Stories
3
Units
3
Listing Agency:
(978) 237-7266
Listed By:
David Duncan
(978) 237-7266
Source:
Elliman
Added: Mar 10
Changed: Aug 9
Last Checked: Aug 20 at 8:07AM
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 David Duncan
Investment Insights
Based on property information with market context.
This fully tenanted 3-family property is located in North Lawrence. Each unit features 3 bedrooms and 1 bath, with over 1,500 square feet per unit, totaling 4,576 square feet of living space. The property includes a walk-up attic, offering additional potential for storage or expansion. The location is near schools, shopping, transit, and major routes. This property is suitable for investors or owner-occupants looking to live in one unit while tenants offset expenses.
Key Highlights
- Fully tenanted 3‑family property provides immediate rental income.
- Each unit features 3 bedrooms and 1 bath with over 1,500 sq. ft. of living space.
- Separate utilities for each unit simplify tenant management.
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
$77,088
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
8.81%
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%
$1,541,760
$1.5M
Cap Rate 7%
$1,101,257
$1.1M
Cap Rate 9%
$856,533
$856.5K
Market Conditions
NOI Build-Up for 4,576 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
$115.3K $25.20/SF
− Vacancy
−$5.2K −$1.13/SF
EGI
$110.1K $24.07/SF
− OpEx
−$33.0K −$7.22/SF
NOI
$77.1K $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%
$1,541,760
Cap Rate 7%
$1,101,257
Cap Rate 9%
$856,533
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.6K – $1.28M
NOI $77,088 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$994.1K
$869.8K – $1.16M
NOI $69,584 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,628 @ 7.0% cap · market cap 21.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,320
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?
Triplex - Fully tenanted 3-family property in North Lawrence.
Where is this triplex located?
The property is located at 192 Un Lawrence, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Fully tenanted 3‑family property provides immediate rental income.; Each unit features 3 bedrooms and 1 bath with over 1,500 sq. ft. of living space.; Separate utilities for each unit simplify tenant management.
