Duplex with Detached
For Sale
$624,900
13 Woodland St, Lawrence, MA 01841
The ground-level unit will be delivered vacant, with off-street parking and additional storage in a detached garage.
Property Size1,996 SF
Price / SF$313.08
Days on Market9
Property Features for 13 Woodland St
General Information
Standard status
Active
Size
1,996 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
R-2
Net Operating Income
$38,400
Taxes and HOA fees
Annual Taxes
$4,694
Building Details
Building Size
1,996 SF
Year Built
1900
Stories
2
Listing Agency:
RE/MAX Innovative Properties
(603) 434-4101
Listed By:
Raymond Boutin
Source:
Laerrealty
Added: Aug 1
Changed: Aug 8
Last Checked: Aug 8 at 4:15AM
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 RE/MAX Innovative Properties
Investment Insights
Based on property information with market context.
This two-family duplex contains 1,996 square feet and was built in 1900. Each residence offers three bedrooms, creating a consistent layout across both units. The ground-level apartment is scheduled to be delivered vacant, and that unit has undergone recent updates. A detached garage provides supplemental storage, while off-street parking serves the property.
The property is located at 13 Woodland St in Lawrence, Massachusetts, and carries R-2 zoning. Unit 1 has a Lead Paint Certificate. The two-unit configuration, bedroom count, garage, parking, and planned first-floor vacancy provide a clear physical profile for evaluating the property’s residential use.
The property is located at 13 Woodland St in Lawrence, Massachusetts, and carries R-2 zoning. Unit 1 has a Lead Paint Certificate. The two-unit configuration, bedroom count, garage, parking, and planned first-floor vacancy provide a clear physical profile for evaluating the property’s residential use.
Key Highlights
- Two‑family duplex with 1,996 SF of building area
- Each unit includes three bedrooms
- Ground‑level unit to be delivered vacant
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
$33,625
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
5.38%
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%
$672,500
$672.5K
Cap Rate 7%
$480,357
$480.4K
Cap Rate 9%
$373,611
$373.6K
Market Conditions
NOI Build-Up for 1,996 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
$50.3K $25.20/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$48.0K $24.07/SF
− OpEx
−$14.4K −$7.22/SF
NOI
$33.6K $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%
$672,500
Cap Rate 7%
$480,357
Cap Rate 9%
$373,611
Alternative Uses
Best Use
Multifamily LT 5
$480.4K
$420.3K – $560.4K
NOI $33,625 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$433.6K
$379.4K – $505.9K
NOI $30,352 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,714 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,961
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?
Duplex - The ground-level unit will be delivered vacant, with off-street parking and additional storage in a detached garage.
Where is this duplex located?
The property is located at 13 Woodland St Lawrence, MA.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Two‑family duplex with 1,996 SF of building area; Each unit includes three bedrooms; Ground‑level unit to be delivered vacant
