Side-by-Side
For Sale
$949,000
2-2a Newell Road, Wakefield, MA 01880
Two residential units combine generous layouts with unfinished basement areas and renovation flexibility.
Property Size4,002 SF
Price / SF$237.13
Days on Market48
Property Features for 2-2a Newell Road
General Information
Standard status
Active
Size
4,002 SF
Property subtype
Multi-family
Building Details
Year Built
1940
Listing Agency:
Lyv Realty
Listed By:
Christine Goldstein
(617) 396-3100
Source:
Longwoodresidential
Added: Jul 14
Changed: Aug 29
Last Checked: Jul 24 at 5:13AM
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 Lyv Realty
Investment Insights
Based on property information with market context.
This 4002-square-foot duplex is configured as two side-by-side residential units, each offering 4 bedrooms and 2 bathrooms. Both residences include generous living areas and unfinished basement space that can support future renovation or reconfiguration. Built in 1940, the property retains architectural character and is positioned on a spacious lot within an established neighborhood.
The home is near major highways and downtown Wakefield, with a brand-new high school also planned nearby. Its existing two-unit layout, substantial bedroom count, and basement areas provide a range of possibilities for an owner seeking a multifamily property with room for improvement.
The home is near major highways and downtown Wakefield, with a brand-new high school also planned nearby. Its existing two-unit layout, substantial bedroom count, and basement areas provide a range of possibilities for an owner seeking a multifamily property with room for improvement.
Key Highlights
- Two side‑by‑side residential units
- Each unit includes 4 bedrooms and 2 bathrooms
- 4002 square feet with unfinished basement areas
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
$84,684
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
8.92%
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%
$1,693,680
$1.7M
Cap Rate 7%
$1,209,771
$1.2M
Cap Rate 9%
$940,933
$940.9K
Market Conditions
NOI Build-Up for 4,002 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
$127.3K $31.80/SF
− Vacancy
−$6.3K −$1.57/SF
EGI
$121.0K $30.23/SF
− OpEx
−$36.3K −$9.07/SF
NOI
$84.7K $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%
$1,693,680
Cap Rate 7%
$1,209,771
Cap Rate 9%
$940,933
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,684 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$1.14M
$995.3K – $1.33M
NOI $79,626 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,842 @ 7.0% cap · market cap 17.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
Explore this area
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
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 residential units combine generous layouts with unfinished basement areas and renovation flexibility.
Where is this duplex located?
The property is located at 2-2a Newell Road Wakefield, MA.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Two side‑by‑side residential units; Each unit includes 4 bedrooms and 2 bathrooms; 4002 square feet with unfinished basement areas
