Side-by-Side Duplex
For Sale
$949,000
Pending
2-2A Newell Rd, Wakefield, MA 01880
Side-by-side duplex with two units, each offering four bedrooms and two bathrooms plus unfinished basement space.
Property Size4,002 SF
Days on Market33
Property Features for 2-2A Newell Rd
General Information
Standard status
Pending
Size
4,002 SF
Total Parking Spaces
6
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$10,672
Building Details
Building Size
4,002 SF
Year Built
1940
Listing Agency:
Lyv Realty
(413) 786-0584
Listed By:
Christine Goldstein · License #452508574
Source:
Classifiedrealtygroup
Added: Jul 24
Changed: Aug 23
Last Checked: Aug 4 at 3:39AM
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 Lyv Realty
Investment Insights
Based on property information with market context.
This side-by-side duplex offers two separate units within a single multi-unit home. Each unit features four bedrooms and two bathrooms, along with generous living space. Additional unfinished basement areas provide extra room to support future customization and finishing.
The property is situated on a spacious lot in an established neighborhood. The public remarks also note proximity to major highways and nearby downtown activity, along with a planned new high school.
Owned by the same family for decades, the home is positioned for an investor, developer, or buyer looking for a property with substantial interior potential and room to reimagine the space.
The property is situated on a spacious lot in an established neighborhood. The public remarks also note proximity to major highways and nearby downtown activity, along with a planned new high school.
Owned by the same family for decades, the home is positioned for an investor, developer, or buyer looking for a property with substantial interior potential and room to reimagine the space.
Key Highlights
- Side‑by‑side duplex with two units
- Each unit includes 4 bedrooms and 2 bathrooms
- Unfinished basement space in each unit with additional potential
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
$84,684
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
8.92%
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%
$1,693,680
$1.7M
Cap Rate 7%
$1,209,771
$1.2M
Cap Rate 9%
$940,933
$940.9K
Market Conditions
NOI Build-Up for 4,002 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
$127.3K $31.80/SF
− Vacancy
−$6.3K −$1.57/SF
EGI
$121.0K $30.23/SF
− OpEx
−$36.3K −$9.07/SF
NOI
$84.7K $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%
$1,693,680
Cap Rate 7%
$1,209,771
Cap Rate 9%
$940,933
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,684 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$1.14M
$995.3K – $1.33M
NOI $79,626 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,842 @ 7.0% cap · market cap 17.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
Explore this area
Business Placement
Demographics for 01880, MA
27,071
Population
11,513
Households
2.4
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
3,658
Density / Sq Mi
$130,419
Median Household Income
$78,860
Median Earnings
$1,872
Median Rent
$670,100
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 - Side-by-side duplex with two units, each offering four bedrooms and two bathrooms plus unfinished basement space.
Where is this duplex located?
The property is located at 2-2A Newell Rd Wakefield, MA.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two units; Each unit includes 4 bedrooms and 2 bathrooms; Unfinished basement space in each unit with additional potential
