Victorian Two-Family
For Sale
$899,000
26-26A Richardson Avenue, Wakefield, MA 01880
Well-maintained Victorian duplex offering two units with separate utilities, hardwood flooring, and basement laundry plus attic storage for unit 2.
Property Size2,037 SF
Price / SF$441.34
Days on Market120
Property Features for 26-26A Richardson Avenue
General Information
Standard status
Active
Size
2,037 SF
Total Parking Spaces
10
Property subtype
Multi-Family
Zoning
B
Additional Details
Multifamily Units
2
Building Details
Building Size
2,037 SF
Year Built
1800
Stories
3
Tenancy
Multi
Listing Agency:
Leading Edge Real Estate
Listed By:
Lauren O'Brien & Co. Team
(978) 317-3385
Source:
Hometown-team
Added: May 10
Changed: Sep 6
Last Checked: Jul 21 at 3:34AM
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 Leading Edge Real Estate
Investment Insights
Based on property information with market context.
This beautifully maintained Victorian two-family residence offers two distinct living arrangements with classic interior finishes. Hardwood flooring, high ceilings, crown molding, and abundant natural light run throughout, supporting a timeless look and feel. The first-floor unit features two bedrooms, a functioning fireplace, French doors, and access to a farmer’s porch. The second unit is townhouse-style across two levels with three bedrooms, an open-concept living area, and a private deck off a bedroom. Custom built-in dining room cabinetry with granite countertops adds both display and counter space.
Additional practical features include separate utilities for each unit, along with laundry and storage in the basement and attic for unit 2. The property also includes a two-car garage and outdoor space for relaxing or entertaining.
The layout is designed to support both day-to-day owner use and rental income, with the flexibility of separate utilities and dedicated storage amenities between the units.
Additional practical features include separate utilities for each unit, along with laundry and storage in the basement and attic for unit 2. The property also includes a two-car garage and outdoor space for relaxing or entertaining.
The layout is designed to support both day-to-day owner use and rental income, with the flexibility of separate utilities and dedicated storage amenities between the units.
Key Highlights
- Victorian 2‑family built in 1800 with two separate units and spacious layouts
- First‑floor unit: 2 bedrooms, functioning fireplace, French doors, and farmer’s porch
- Second (townhouse‑style) unit spans 2 levels with 3 bedrooms, open‑concept living, and a private deck off a bedroom
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
$43,104
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
4.79%
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%
$862,080
$862.1K
Cap Rate 7%
$615,771
$615.8K
Cap Rate 9%
$478,933
$478.9K
Market Conditions
NOI Build-Up for 2,037 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
$64.8K $31.80/SF
− Vacancy
−$3.2K −$1.57/SF
EGI
$61.6K $30.23/SF
− OpEx
−$18.5K −$9.07/SF
NOI
$43.1K $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%
$862,080
Cap Rate 7%
$615,771
Cap Rate 9%
$478,933
Alternative Uses
Best Use
Multifamily LT 5
$615.8K
$538.8K – $718.4K
NOI $43,104 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$579.0K
$506.6K – $675.5K
NOI $40,529 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,413 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,402
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 - Well-maintained Victorian duplex offering two units with separate utilities, hardwood flooring, and basement laundry plus attic storage for unit 2.
Where is this duplex located?
The property is located at 26-26A Richardson Avenue Wakefield, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Victorian 2‑family built in 1800 with two separate units and spacious layouts; First‑floor unit: 2 bedrooms, functioning fireplace, French doors, and farmer’s porch; Second (townhouse‑style) unit spans 2 levels with 3 bedrooms, open‑concept living, and a private deck off a bedroom
