Duplex with Wraparound
For Sale
$1,249,000
24 Fletcher Ave, Lexington, MA 02420
Two residential units feature hardwood floors, kitchens, bathrooms, and separate living areas with off-street parking.
Property Size1,827 SF
Price / SF$683.63
Days on Market49
Property Features for 24 Fletcher Ave
General Information
Standard status
Active
Size
1,827 SF
Property subtype
2 Family - 2 Units Up/Down
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
wrap around front porch
off-street parking
level backyard
central AC
hardwood floors
extra attic storage
Building Details
Building Size
1,827 SF
Year Built
1890
Construction
Colonial style
Listing Agency:
William Raveis R.E. & Home Services
(781) 235-5000
Listed By:
Mark O'Donnell
(617) 733-5464
Source:
Iverty
Added: Sep 3
Changed: Oct 21
Last Checked: Oct 20 at 10:01PM
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 William Raveis R.E. & Home Services
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Investment Insights
Based on property information with market context.
This Colonial-style duplex contains 1,827 square feet and was built in 1890. The first-floor residence offers two bedrooms, a corner living room, kitchen, bathroom with tub, refinished hardwood floors, central AC, updated doors and lighting, fresh paint, and direct access to the level backyard. The second-floor unit also includes two bedrooms, hardwood flooring, a front-facing bathroom, attic storage, and a kitchen with an eating area.
Exterior work includes a new roof, rebuilt soffits, new aluminum gutters, a rebuilt front porch, newer siding, and an exterior repaint. The property includes off-street parking and a wraparound front porch. It is near Town Hall, the library, post office, restaurants, Lexington Green, the Minuteman Commuter Bikeway, Wilson Farms, and major routes. The first-floor renovation and exterior improvements were completed in 2026, while the exterior was freshly painted in 2024.
Exterior work includes a new roof, rebuilt soffits, new aluminum gutters, a rebuilt front porch, newer siding, and an exterior repaint. The property includes off-street parking and a wraparound front porch. It is near Town Hall, the library, post office, restaurants, Lexington Green, the Minuteman Commuter Bikeway, Wilson Farms, and major routes. The first-floor renovation and exterior improvements were completed in 2026, while the exterior was freshly painted in 2024.
Key Highlights
- Two‑family duplex with 1,827 square feet, built in 1890
- First‑floor unit renovated in 2026 with central AC and refinished hardwood floors
- Both units include two bedrooms and separate kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,660
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,200
$773.2K
Cap Rate 7%
$552,286
$552.3K
Cap Rate 9%
$429,556
$429.6K
Market Conditions
NOI Build-Up for 1,827 SF
Gross rent
$58.1K $31.80/SF
− Vacancy
−$2.9K −$1.57/SF
EGI
$55.2K $30.23/SF
− OpEx
−$16.6K −$9.07/SF
NOI
$38.7K $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 Rate 5%
$773,200
Cap Rate 7%
$552,286
Cap Rate 9%
$429,556
Alternative Uses
Best Use
Multifamily LT 5
$552.3K
$483.3K – $644.3K
NOI $38,660 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$519.3K
$454.4K – $605.9K
NOI $36,351 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$1.08M
$946.4K – $1.26M
NOI $75,710 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,143
Businesses Nearby
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Business Placement
Demographics for 02420, MA
15,502
Population
5,759
Households
2.7
Avg Household Size
45
Median Age
85%
College-Educated
98%
High-School Grad
7.0 sq mi
ZIP Area
2,215
Density / Sq Mi
$233,068
Median Household Income
$124,695
Median Earnings
$2,771
Median Rent
$1,148,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature hardwood floors, kitchens, bathrooms, and separate living areas with off-street parking.
Where is this duplex located?
The property is located at 24 Fletcher Ave Lexington, MA.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: Two‑family duplex with 1,827 square feet, built in 1890; First‑floor unit renovated in 2026 with central AC and refinished hardwood floors; Both units include two bedrooms and separate kitchens and bathrooms
