Four-Unit
For Sale
$1,100,000
18 Winthrop Avenue, Lawrence, MA 01843
Corner-lot property with porches, off-street parking, and convenient access to Route 495.
Property Size4,641 SF
Price / SF$237.02
Days on Market146
Property Features for 18 Winthrop Avenue
General Information
Standard status
Active
Size
4,641 SF
Total Parking Spaces
6
Property subtype
Multi-family / 4 Family
Zoning
R2
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,398
Amenities
large porches
off-street parking
No
Varies, Laminate, Hardwood
Range, Refrigerator
4.0
Electric Dryer Hookup, Washer Hookup
Full, Interior Access, Unfinished Basement
Bathroom with Shower Stall, Remodeled, Bathroom With Tub, Living Room, Kitchen, Dining Room
4
4.00
Frame
Shingle
Corner Lot
Porch
Building Details
Year Built
1890
Listing Agency:
Realty ONE Group Nest
(978) 655-1385
Listed By:
Jose Martinez · License #9586625
(978) 655-1385
Source:
Compass
Added: Apr 7
Changed: Aug 30
Last Checked: Aug 30 at 6:19AM
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 Realty ONE Group Nest
Investment Insights
Based on property information with market context.
This 4,641-square-foot quadplex contains four residential units within a frame building constructed in 1890. Interior features include laminate and hardwood flooring, kitchens with ranges and refrigerators, living rooms, dining rooms, and bathrooms with shower stalls or tubs. Remodeled bathroom areas are also noted. Washer and dryer hookups are available, and the building includes an unfinished basement with interior access.
The property occupies a corner lot at 18 Winthrop Avenue in Lawrence, Massachusetts, with easy access to Route 495 and proximity to area amenities. Exterior features include shingle siding, large porches, and off-street parking. The property is zoned R2.
The property occupies a corner lot at 18 Winthrop Avenue in Lawrence, Massachusetts, with easy access to Route 495 and proximity to area amenities. Exterior features include shingle siding, large porches, and off-street parking. The property is zoned R2.
Key Highlights
- Four residential units totaling 4,641 SF
- R2 zoning on a corner lot
- Frame construction dating to 1890
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
$78,183
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
7.11%
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%
$1,563,660
$1.6M
Cap Rate 7%
$1,116,900
$1.1M
Cap Rate 9%
$868,700
$868.7K
Market Conditions
NOI Build-Up for 4,641 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
$117.0K $25.20/SF
− Vacancy
−$5.3K −$1.13/SF
EGI
$111.7K $24.07/SF
− OpEx
−$33.5K −$7.22/SF
NOI
$78.2K $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%
$1,563,660
Cap Rate 7%
$1,116,900
Cap Rate 9%
$868,700
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$977.3K – $1.30M
NOI $78,183 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$1.01M
$882.2K – $1.18M
NOI $70,573 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$2.75M
$2.40M – $3.21M
NOI $192,322 @ 7.0% cap · market cap 17.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,238
Businesses Nearby
Explore this area
Business Placement
Demographics for 01843, MA
28,346
Population
10,968
Households
2.6
Avg Household Size
34
Median Age
20%
College-Educated
79%
High-School Grad
3.4 sq mi
ZIP Area
8,337
Density / Sq Mi
$72,163
Median Household Income
$38,957
Median Earnings
$1,703
Median Rent
$393,700
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?
Quadplex - Corner-lot property with porches, off-street parking, and convenient access to Route 495.
Where is this quadplex located?
The property is located at 18 Winthrop Avenue Lawrence, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four residential units totaling 4,641 SF; R2 zoning on a corner lot; Frame construction dating to 1890
