New Construction
For Sale
$895,000
141-143 Hancock Street, Lawrence, MA 01841
Two-family property with separate utilities, central air, private outdoor space, and convenient access to I-495.
Property Size2,760 SF
Days on Market10
Property Features for 141-143 Hancock Street
General Information
Standard status
Active
Size
2,760 SF
Total Parking Spaces
6
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
central air
off-street parking
private rear yard
Building Details
Building Size
2,760 SF
Year Built
2026
Listing Agency:
Weichert Realtors' Daher Companies
Listed By:
Mary Koontz-Daher
(978) 265-8456
Source:
Classifiedrealtygroup
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 26 at 4:08AM
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.
Completed as new construction in 2026, this two-family duplex offers a contemporary layout with three second-floor bedrooms in each unit. Both residences feature open kitchen, dining, and family-room areas, along with custom cabinetry, granite countertops, and peninsula seating. Central air supports year-round comfort, while separate water and sewer utilities provide independent service for each unit.
Walk-out lower levels are plumbed for an additional 3/4 bath, creating flexibility for future finished space or expanded household use. The property also includes ample off-street parking and a private rear yard. Located at 141-143 Hancock Street in Lawrence, the duplex is minutes from I-495.
Walk-out lower levels are plumbed for an additional 3/4 bath, creating flexibility for future finished space or expanded household use. The property also includes ample off-street parking and a private rear yard. Located at 141-143 Hancock Street in Lawrence, the duplex is minutes from I-495.
Key Highlights
- Two‑family duplex with 3 second‑floor bedrooms in each unit
- New construction completed in 2026
- Open‑concept kitchen, dining, and family‑room layouts
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
$46,496
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
5.20%
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%
$929,920
$929.9K
Cap Rate 7%
$664,229
$664.2K
Cap Rate 9%
$516,622
$516.6K
Market Conditions
NOI Build-Up for 2,760 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
$69.6K $25.20/SF
− Vacancy
−$3.1K −$1.13/SF
EGI
$66.4K $24.07/SF
− OpEx
−$19.9K −$7.22/SF
NOI
$46.5K $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%
$929,920
Cap Rate 7%
$664,229
Cap Rate 9%
$516,622
Alternative Uses
Best Use
Multifamily LT 5
$664.2K
$581.2K – $774.9K
NOI $46,496 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$599.6K
$524.6K – $699.5K
NOI $41,970 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$1.63M
$1.43M – $1.91M
NOI $114,374 @ 7.0% cap · market cap 12.78%
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
621
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 - Two-family property with separate utilities, central air, private outdoor space, and convenient access to I-495.
Where is this duplex located?
The property is located at 141-143 Hancock 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: Two‑family duplex with 3 second‑floor bedrooms in each unit; New construction completed in 2026; Open‑concept kitchen, dining, and family‑room layouts
