Two-Family Duplex with Hardwood
New
For Sale
$699,000
293 Albion, Wakefield, MA 01880
Two residences offer a one-bedroom first-floor unit and a larger five-bedroom upper unit.
Property Size1,942 SF
Price / SF$359.94
Days on Market3
Property Features for 293 Albion
General Information
Standard status
Active
Size
1,942 SF
Property subtype
2 Family - 2 Units Up/Down
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR, 1 x 5BR
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty
(978) 475-2111
Listed By:
DNA Realty Group
(617) 340-9135
Source:
Lockandkeyre
Added: Oct 9
Changed: Oct 11
Last Checked: Oct 11 at 6:56AM
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.
This two-family property at 293 Albion in Wakefield contains 1,942 square feet. The first-floor residence has three rooms and one bedroom; the upper residence includes nine rooms and five bedrooms. Hardwood flooring and high ceilings are among the home's existing features. The property is presented as needing updates.
Commuter options include the nearby Commuter Rail station and Wakefield/Reading bus stop, with access to Routes 128/95 and 93. Lake Quannapowitt and downtown Wakefield's shops and restaurants are also nearby.
Commuter options include the nearby Commuter Rail station and Wakefield/Reading bus stop, with access to Routes 128/95 and 93. Lake Quannapowitt and downtown Wakefield's shops and restaurants are also nearby.
Key Highlights
- Two‑family property with 1,942 square feet
- First‑floor unit has three rooms and one bedroom
- Upper unit has nine rooms and five bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,093
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,860
$821.9K
Cap Rate 7%
$587,043
$587.0K
Cap Rate 9%
$456,589
$456.6K
Market Conditions
NOI Build-Up for 1,942 SF
Gross rent
$61.8K $31.80/SF
− Vacancy
−$3.1K −$1.57/SF
EGI
$58.7K $30.23/SF
− OpEx
−$17.6K −$9.07/SF
NOI
$41.1K $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 Rate 5%
$821,860
Cap Rate 7%
$587,043
Cap Rate 9%
$456,589
Alternative Uses
Best Use
Multifamily LT 5
$587.0K
$513.7K – $684.9K
NOI $41,093 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$552.0K
$483.0K – $644.0K
NOI $38,639 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,476 @ 7.0% cap · market cap 11.51%
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
Location Intelligence
Trade Area within ½ mile
965
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
Check the figures for this property
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 - Two residences offer a one-bedroom first-floor unit and a larger five-bedroom upper unit.
Where is this duplex located?
The property is located at 293 Albion Wakefield, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑family property with 1,942 square feet; First‑floor unit has three rooms and one bedroom; Upper unit has nine rooms and five bedrooms
