Duplex with Separate
New
For Sale
$749,000
217 Lawrence Street, Haverhill, MA 01830
Updated interiors, a three-room apartment, and a carriage-house garage offer flexible residential space.
Property Size2,666 SF
Price / SF$280.95
Days on Market7
Property Features for 217 Lawrence Street
General Information
Standard status
Active
Size
2,666 SF
Total Parking Spaces
2
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
french porch
fireplace
wood-burning stove
fenced yard
bonus room
Building Details
Year Built
1906
Listing Agency:
True North Realty
Listed By:
Marina Tramontozzi
(617) 291-8220
Source:
Elevatedboston
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 4 at 10:13AM
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 True North Realty
Investment Insights
Based on property information with market context.
Built in 1906, this 2,666-square-foot duplex has updated kitchens and bathrooms, refinished hardwood floors, and refreshed interior finishes. The main residence includes multiple front rooms, a dining room, and two bedrooms on the second floor. A separate three-room apartment on that level has its own kitchen, bedroom, bathroom, and living room. The walk-up attic includes one finished area, while the basement provides laundry and storage. A fenced yard adds outdoor space.
The former carriage house is now a two-car garage with an additional room above, electricity, and rough plumbing for a bathroom. The property has two electric meters, one water bill, and one gas bill. Heating is by oil on the first floor and part of the second floor, with electric baseboards serving the rest of the second floor. The location is near Route 495, shopping, restaurants, parks, Lake Pentucket, and Northern Essex Community College.
The former carriage house is now a two-car garage with an additional room above, electricity, and rough plumbing for a bathroom. The property has two electric meters, one water bill, and one gas bill. Heating is by oil on the first floor and part of the second floor, with electric baseboards serving the rest of the second floor. The location is near Route 495, shopping, restaurants, parks, Lake Pentucket, and Northern Essex Community College.
Key Highlights
- 2,666‑square‑foot duplex built in 1906
- Three‑room apartment with kitchen, bedroom, bathroom, and living room
- Carriage house converted to a two‑car garage, with bonus room above
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
$44,912
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
6.00%
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%
$898,240
$898.2K
Cap Rate 7%
$641,600
$641.6K
Cap Rate 9%
$499,022
$499.0K
Market Conditions
NOI Build-Up for 2,666 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
$67.2K $25.20/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$64.2K $24.07/SF
− OpEx
−$19.2K −$7.22/SF
NOI
$44.9K $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%
$898,240
Cap Rate 7%
$641,600
Cap Rate 9%
$499,022
Alternative Uses
Best Use
Multifamily LT 5
$641.6K
$561.4K – $748.5K
NOI $44,912 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$579.1K
$506.8K – $675.7K
NOI $40,540 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,478 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 01830, MA
27,553
Population
11,159
Households
2.5
Avg Household Size
41
Median Age
30%
College-Educated
89%
High-School Grad
13.9 sq mi
ZIP Area
1,982
Density / Sq Mi
$79,784
Median Household Income
$49,289
Median Earnings
$1,602
Median Rent
$436,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated interiors, a three-room apartment, and a carriage-house garage offer flexible residential space.
Where is this duplex located?
The property is located at 217 Lawrence Street Haverhill, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 2,666‑square‑foot duplex built in 1906; Three‑room apartment with kitchen, bedroom, bathroom, and living room; Carriage house converted to a two‑car garage, with bonus room above
