Renovated Two-Family
New
For Sale
$1,250,000
14 Otis St, Wakefield, MA 01880
Residential Income, Wakefield, MA
Property Size3,716 SF
Lot Size0.22 Acres
Price / SF$336.38
Days on Market4
Property Features for 14 Otis St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GR
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bathroom 1, Bathroom 3, Bedroom 7, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 6, Bedroom 3, Bedroom 2
Parking
6
Fireplace
1
Elementary school
Dolbeare
Directions
Vernon Street to Pleasant Street to Otis Street
Standard status
Active
APN
M:0017 B:0041 L:0160,818376
Size
3,716 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
15834
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Buildings
1
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Keller Williams Realty Evolution
Added: Oct 27
Changed: Oct 28
Last Checked: Oct 30 at 8:06AM
MLS# 73593463
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This renovated duplex contains two residences within a 3,716-square-foot property on a 0.2164-acre lot. The first-floor unit has three bedrooms, and the second-floor residence occupies two levels. Both homes have updated kitchens and bathrooms, hardwood floors, and separate utilities; the property also has updated systems and a fireplace.
Exterior features include a detached garage, an oversized storage shed, hardscaping, patio and yard space, and off-street parking. The property is a short walk from downtown Wakefield, with the lake, commuter rail, restaurants, and shops also identified as nearby amenities. Zoning is GR.
Exterior features include a detached garage, an oversized storage shed, hardscaping, patio and yard space, and off-street parking. The property is a short walk from downtown Wakefield, with the lake, commuter rail, restaurants, and shops also identified as nearby amenities. Zoning is GR.
Key Highlights
- Two‑family property with 3,716 square feet on a 0.2164‑acre lot
- First‑floor unit has 3 bedrooms; second‑floor residence spans two levels
- Updated kitchens, bathrooms, systems, hardwood floors, and separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,632
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,572,640
$1.6M
Cap Rate 7%
$1,123,314
$1.1M
Cap Rate 9%
$873,689
$873.7K
Market Conditions
NOI Build-Up for 3,716 SF
Gross rent
$118.2K $31.80/SF
− Vacancy
−$5.8K −$1.57/SF
EGI
$112.3K $30.23/SF
− OpEx
−$33.7K −$9.07/SF
NOI
$78.6K $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 Rate 5%
$1,572,640
Cap Rate 7%
$1,123,314
Cap Rate 9%
$873,689
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$982.9K – $1.31M
NOI $78,632 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$1.06M
$924.2K – $1.23M
NOI $73,936 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$2.20M
$1.92M – $2.57M
NOI $153,990 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,461
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The first-floor residence has three bedrooms, while the upper home spans two levels.
Where is this duplex located?
The property is located at 14 Otis St Wakefield, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two‑family property with 3,716 square feet on a 0.2164‑acre lot; First‑floor unit has 3 bedrooms; second‑floor residence spans two levels; Updated kitchens, bathrooms, systems, hardwood floors, and separate utilities
