Duplex with Private Rear
For Sale
$895,000
Pending
172-174 High Street, Lawrence, MA 01841
New construction duplex offers two units with central air, separate utilities, and private rear yards with off-street parking.
Property Size2,976 SF
Days on Market100
Property Features for 172-174 High Street
General Information
Standard status
Pending
Size
2,976 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Zoning
R-2
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Building Details
Building Size
2,976 SF
Year Built
2026
Stories
3
Units
2
Listing Agency:
Weichert Realtors' Daher Companies
(978) 688-7251
Listed By:
Mary Koontz-Daher
(978) 265-8456
Source:
Alliancepartnersre
Added: May 29
Changed: Aug 23
Last Checked: Jul 21 at 4:11AM
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 Weichert Realtors' Daher Companies
Investment Insights
Based on property information with market context.
New construction duplex-style 2-family property featuring two separate units. Each unit includes three second-floor bedrooms and an open-concept kitchen, dining, and family room. Kitchens are finished with custom cabinetry, granite-topped counters, and peninsula seating. Both units have walk-out lower levels that are plumbed for an additional bath or shower, with space that can support future flexibility. Central air is included for comfort, and the property provides ample off-street parking along with private rear yards for each unit.
Located in North Lawrence, Massachusetts with R-2 zoning. Directions are provided from Storrow St. to High St.
Utilities are separated, including water and sewer, supporting independent operations for each unit.
Located in North Lawrence, Massachusetts with R-2 zoning. Directions are provided from Storrow St. to High St.
Utilities are separated, including water and sewer, supporting independent operations for each unit.
Key Highlights
- New construction duplex (2‑family) built in 2026 in Lawrence, MA (North Lawrence).
- Each unit has 3 second‑floor bedrooms and an open‑concept kitchen, dining, and family room.
- Central air plus forced‑air heating (natural gas) with individual unit control.
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
$50,134
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
5.60%
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%
$1,002,680
$1.0M
Cap Rate 7%
$716,200
$716.2K
Cap Rate 9%
$557,044
$557.0K
Market Conditions
NOI Build-Up for 2,976 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
$75.0K $25.20/SF
− Vacancy
−$3.4K −$1.13/SF
EGI
$71.6K $24.07/SF
− OpEx
−$21.5K −$7.22/SF
NOI
$50.1K $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%
$1,002,680
Cap Rate 7%
$716,200
Cap Rate 9%
$557,044
Alternative Uses
Best Use
Multifamily LT 5
$716.2K
$626.7K – $835.6K
NOI $50,134 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$646.5K
$565.7K – $754.2K
NOI $45,254 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,325 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,089
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
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Frequently Asked Questions
What type of property is this?
Duplex - New construction duplex offers two units with central air, separate utilities, and private rear yards with off-street parking.
Where is this duplex located?
The property is located at 172-174 High Street Lawrence, MA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: New construction duplex (2‑family) built in 2026 in Lawrence, MA (North Lawrence).; Each unit has 3 second‑floor bedrooms and an open‑concept kitchen, dining, and family room.; Central air plus forced‑air heating (natural gas) with individual unit control.
