Eight-Bedroom Duplex with Finished
For Sale
$849,000
Pending
203-205 Saratoga St, Lawrence, MA 01841
Two-unit property offers separate utilities, updated kitchens, basement laundry, and off-street parking.
Property Size3,892 SF
Days on Market14
Property Features for 203-205 Saratoga St
General Information
Standard status
Pending
Size
3,892 SF
Total Parking Spaces
3
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$6,930
Building Details
Building Size
3,892 SF
Year Built
1910
Listing Agency:
Century 21 North East
Listed By:
Fermin Group
(978) 208-0449
Source:
Classifiedrealtygroup
Added: Sep 15
Changed: Sep 24
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 Century 21 North East
Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains 3,892 square feet across two residences. The first-floor unit is vacant and includes three bedrooms and one bathroom. Upstairs, a two-level residence provides three bedrooms and a full bathroom on the main level, with two additional bedrooms and another full bathroom in the finished attic. Both units feature updated kitchens and newer appliances.
A full basement adds a bathroom and laundry area, with the washer and dryer included. The property has separate utilities, three off-street parking spaces, and connections to city water and sewer. The address is situated on the Lawrence/Methuen line. The solar lease will transfer at closing.
A full basement adds a bathroom and laundry area, with the washer and dryer included. The property has separate utilities, three off-street parking spaces, and connections to city water and sewer. The address is situated on the Lawrence/Methuen line. The solar lease will transfer at closing.
Key Highlights
- 3,892‑square‑foot duplex with 8 bedrooms and 4 bathrooms
- First‑floor unit is vacant with 3 beds and 1 bath
- Upper residence includes 5 bedrooms across two levels and 2 full baths
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
$65,565
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
7.72%
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%
$1,311,300
$1.3M
Cap Rate 7%
$936,643
$936.6K
Cap Rate 9%
$728,500
$728.5K
Market Conditions
NOI Build-Up for 3,892 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
$98.1K $25.20/SF
− Vacancy
−$4.4K −$1.13/SF
EGI
$93.7K $24.07/SF
− OpEx
−$28.1K −$7.22/SF
NOI
$65.6K $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%
$1,311,300
Cap Rate 7%
$936,643
Cap Rate 9%
$728,500
Alternative Uses
Best Use
Multifamily LT 5
$936.6K
$819.6K – $1.09M
NOI $65,565 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$845.5K
$739.8K – $986.4K
NOI $59,183 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$2.30M
$2.02M – $2.69M
NOI $161,283 @ 7.0% cap · market cap 19.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,254
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-unit property offers separate utilities, updated kitchens, basement laundry, and off-street parking.
Where is this duplex located?
The property is located at 203-205 Saratoga St Lawrence, MA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 3,892‑square‑foot duplex with 8 bedrooms and 4 bathrooms; First‑floor unit is vacant with 3 beds and 1 bath; Upper residence includes 5 bedrooms across two levels and 2 full baths
