Two-Family Residential Income
20 Otis St Wakefield, MA 01880
20 Otis St, Wakefield, MA, 01880
$939,900
For Sale
$939,900
Two-family property with recent upgrades including new windows, heating conversion, and a remodeled bathroom.
Property Size2,858 SF
Price / SF$328.87
Days on Market14
Property Features for 20 Otis St
General Information
- Standard status
- Active
- Size
- 2,858 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1800
Listing agency
Coldwell Banker Realty - Ipswich
(603) 459-9632
Listed by
Tzortzis Lane Group
(603) 459-9632
Source
Lockandkeyre
Added: Jul 8 Updated: Jul 20 at 6:14PM Checked: Jul 21 at 3:14AM
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 Coldwell Banker Realty - Ipswich
Investment Insights
Based on property information with market context.
This two-family residential income property offers two distinct units within a single building, supported by multiple recent updates. The property features new windows installed in 2022, Unit 2 heating converted from oil to gas, and a fully remodeled bathroom in Unit 1. Additional exterior improvements include a new vinyl fence, along with a fully fenced yard and a private deck off Unit 1.
The location is described as being in the heart of Wakefield, with a short walk to the Wakefield commuter rail station and downtown Wakefield shops and restaurants. The remarks also reference proximity to scenic Lake Quannapowitt.
Overall, it presents a practical two-unit setup for ownership or rental income, complemented by the listed interior and exterior improvements.
The location is described as being in the heart of Wakefield, with a short walk to the Wakefield commuter rail station and downtown Wakefield shops and restaurants. The remarks also reference proximity to scenic Lake Quannapowitt.
Overall, it presents a practical two-unit setup for ownership or rental income, complemented by the listed interior and exterior improvements.
Key Highlights
- Two‑family property in Wakefield built in 1800
- New windows installed in 2022
- Unit 2 heating conversion from oil to gas
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.9k | $31.80 |
| − Vacancy | −$4.5k | −$1.57 |
| EGI | $86.4k | $30.23 |
| − OpEx | −$25.9k | −$9.07 |
| NOI | $60.5k | $21.16 |
2,858 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$863.9K
$756.0K – $1.01M
NOI $60,476 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$812.4K
$710.8K – $947.8K
NOI $56,865 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,435 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-family property with recent upgrades including new windows, heating conversion, and a remodeled bathroom.
Where is this duplex located?
The property is located at 20 Otis St Wakefield, MA.
What is the asking price?
The asking price for this property is $939,900.
What are key features of this property?
This property features: Two‑family property in Wakefield built in 1800; New windows installed in 2022; Unit 2 heating conversion from oil to gas
