Two-Family Home in
293 Albion St Wakefield, MA 01880
293 Albion St, Wakefield, MA, 01880
$799,000
For Sale
$799,000
Value-add two-family home in Wakefield's desirable West Side.
Property Size1,942 SF
Price / SF$411.43
Days on Market99
Property Features for 293 Albion St
General Information
- Standard status
- Active
- Size
- 1,942 SF
- Property subtype
- 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1900
Listing agency
Keller Williams Realty
(617) 340-9135
Listed by
DNA Realty Group
(617) 340-9135
Source
Lockandkeyre
Added: Apr 15 Updated: Jul 10 at 1:13PM Checked: Jul 21 at 3:20AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Located in the West Side of Wakefield, this two-family home at 293 Albion St presents an opportunity for investors and owner-occupants. The property features hardwood floors and high ceilings. The first-floor unit includes three rooms and one bedroom. The second-floor unit contains nine rooms and five bedrooms. The property is located near the Commuter Rail station, the Wakefield/Reading bus stop, and Routes 128/95 and 93, offering convenient commuting options. It is also situated near Lake Quannapowitt and the shopping and dining options in downtown Wakefield. The building size is 1942 square feet.
Key Highlights
- Highly desirable West Side of Wakefield location.
- Large second‑floor unit with nine rooms and five bedrooms, ideal for large households or maximizing rental income.
- Close proximity to Commuter Rail, bus stop, and Routes 128/95 and 93, perfect for commuters.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.8k | $31.80 |
| − Vacancy | −$3.1k | −$1.57 |
| EGI | $58.7k | $30.23 |
| − OpEx | −$17.6k | −$9.07 |
| NOI | $41.1k | $21.16 |
1,942 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$587.0K
$513.7K – $684.9K
NOI $41,093 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$552.0K
$483.0K – $644.0K
NOI $38,639 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,476 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Value-add two-family home in Wakefield's desirable West Side.
Where is this duplex located?
The property is located at 293 Albion St Wakefield, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Highly desirable West Side of Wakefield location.; **Large second‑floor unit with nine rooms and five bedrooms, ideal for large households or maximizing rental income.**; Close proximity to Commuter Rail, bus stop, and Routes 128/95 and 93, perfect for commuters.
