Two-Unit Duplex with
For Sale
$949,900
2 Lexington St, Woburn, MA 01801
Fully leased two-family property with separate kitchens, in-unit laundry, and off-street parking.
Property Size2,399 SF
Price / SF$395.79
Days on Market34
Property Features for 2 Lexington St
General Information
Standard status
Active
Size
2,399 SF
Total Parking Spaces
6
Property subtype
Multifamily
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$5,935
Building Details
Building Size
2,399 SF
Year Built
1930
Buildings
1
Tenancy
Multi
Listing Agency:
Red Tree Real Estate
(617) 487-8015
Listed By:
Adam Kotkin · License #RE-B-9510337
Source:
Classifiedrealtygroup
Added: Jul 30
Changed: Aug 23
Last Checked: Aug 31 at 1:43PM
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 Red Tree Real Estate
Investment Insights
Based on property information with market context.
Built in 1930, this 2,400-square-foot duplex includes two leased residential units. The first-floor unit offers 2 bedrooms, 2 full bathrooms, an eat-in kitchen, in-unit laundry, and access to a private rear porch and patio. The second-floor unit includes 2 bedrooms, 1 full bathroom, an open-concept kitchen, in-unit laundry, and a private back porch.
The property is located on the Winchester/Woburn line and includes an expansive driveway with ample off-street parking. Walk Score is 77, classified as Very Walkable; Bike Score is 54, classified as Bikeable; and Transit Score is 26, classified as Some Transit.
The property is located on the Winchester/Woburn line and includes an expansive driveway with ample off-street parking. Walk Score is 77, classified as Very Walkable; Bike Score is 54, classified as Bikeable; and Transit Score is 26, classified as Some Transit.
Key Highlights
- 2,400‑square‑foot two‑family duplex built in 1930
- Fully leased with 2 bedrooms in each unit
- First‑floor unit has 2 full bathrooms, eat‑in kitchen, laundry, rear porch, and patio
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
$50,785
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
5.35%
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%
$1,015,700
$1.0M
Cap Rate 7%
$725,500
$725.5K
Cap Rate 9%
$564,278
$564.3K
Market Conditions
NOI Build-Up for 2,400 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
$76.3K $31.80/SF
− Vacancy
−$3.8K −$1.57/SF
EGI
$72.5K $30.23/SF
− OpEx
−$21.8K −$9.07/SF
NOI
$50.8K $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%
$1,015,700
Cap Rate 7%
$725,500
Cap Rate 9%
$564,278
Alternative Uses
Best Use
Multifamily LT 5
$725.5K
$634.8K – $846.4K
NOI $50,785 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$682.2K
$596.9K – $795.9K
NOI $47,752 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,455 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 01801, MA
40,891
Population
16,982
Households
2.4
Avg Household Size
41
Median Age
47%
College-Educated
94%
High-School Grad
12.7 sq mi
ZIP Area
3,220
Density / Sq Mi
$107,754
Median Household Income
$60,637
Median Earnings
$2,190
Median Rent
$641,800
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 - Fully leased two-family property with separate kitchens, in-unit laundry, and off-street parking.
Where is this duplex located?
The property is located at 2 Lexington St Woburn, MA.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: 2,400‑square‑foot two‑family duplex built in 1930; Fully leased with 2 bedrooms in each unit; First‑floor unit has 2 full bathrooms, eat‑in kitchen, laundry, rear porch, and patio
