Building Details

Year Built 1969

Buildings 1

Stories 1

Listing Agency: eXp Realty LLC Show Phone

Listed By: Zuleem Garcia Show Phone

Source: Exprealty

Added: Aug 13 Changed: Oct 1 Last Checked: Oct 4 at 1:05PM

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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 eXp Realty LLC

Investment Insights

Based on property information with market context.

Built in 1969, this single-story duplex contains 2,334 square feet of living space arranged across two separate units. Each unit includes an additional bedroom, creating flexible accommodations within the duplex configuration. The property sits on a 9,600-square-foot lot and provides 15+ parking spaces for residents and guests.

Located at 28 Exchange St in Lawrence, Massachusetts, the property has a Walk Score of 93, a Bike Score of 59, and a Transit Score of 47. Its two-unit layout supports rental use, multigenerational living, or an owner-occupant arrangement with separate residential space.

Key Highlights

• Two‑unit duplex configuration with an additional bedroom in each unit
• 2,334 square feet of living space
• 15+ parking spaces on a 9,600‑square‑foot lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,319

Cap Rate

4.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$786,380 $786.4K

Cap Rate 7%

$561,700 $561.7K

Cap Rate 9%

$436,878 $436.9K

Market Conditions

NOI Build-Up for 2,334 SF

Gross rent

$58.8K $25.20/SF

− Vacancy

−$2.6K −$1.13/SF

EGI

$56.2K $24.07/SF

− OpEx

−$16.9K −$7.22/SF

NOI

$39.3K $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 Rate 5%

$786,380

Cap Rate 7%

$561,700

Cap Rate 9%

$436,878

Alternative Uses

Best Use

Multifamily LT 5

$561.7K

$491.5K – $655.3K (±1% cap)

NOI $39,319 @ 7.0% cap · market cap 4.63%

Second Best

Apartment 5plus

$507.0K

$443.7K – $591.5K (±1% cap)

NOI $35,492 @ 7.0% cap · market cap 4.18%

Theoretical Best

Office A

$1.38M

$1.21M – $1.61M (±1% cap)

NOI $96,720 @ 7.0% cap · market cap 11.38%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Storage Facility Acupuncture Garden Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,792

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two separate units provide flexible living arrangements with substantial on-site parking.

Where is this duplex located?

The property is located at 28 Exchange St Lawrence, MA.

What is the asking price?

The asking price for this property is $849,900.

What are key features of this property?

This property features: Two‑unit duplex configuration with an additional bedroom in each unit; 2,334 square feet of living space; 15+ parking spaces on a 9,600‑square‑foot lot