Two-Family
New
For Sale
$699,000
293 Albion, Wakefield, MA 01880
Residential Income, Wakefield, MA
Property Size1,942 SF
Lot Size0.07 Acres
Price / SF$359.94
Days on Market3
Property Features for 293 Albion
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GR
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 4, Bathroom 2
Parking
2
Fireplace
1
Directions
Use GPS
Standard status
Active
APN
M:000008 B:0245 P:000142,816413
Size
1,942 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7783
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty
(978) 475-2111
Listed By:
Susan Rochwarg
(978) 902-1231
Added: Oct 9
Last Checked: Oct 11 at 4:06PM
MLS# 73589084
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,942-square-foot duplex at 293 Albion includes two residences: a first-floor unit with one bedroom and three rooms, and an upper unit with five bedrooms and nine rooms. Hardwood floors, high ceilings, and a fireplace are among the property’s existing features. Built in 1900, the home sits on a 0.0704-acre lot and is zoned GR.
The property is near the Commuter Rail station and the Wakefield/Reading bus stop, with access to Routes 128/95 and 93. Lake Quannapowitt and downtown Wakefield’s shopping and dining are also nearby.
The property is near the Commuter Rail station and the Wakefield/Reading bus stop, with access to Routes 128/95 and 93. Lake Quannapowitt and downtown Wakefield’s shopping and dining are also nearby.
Key Highlights
- Two‑unit property with 1,942 square feet of interior area
- First‑floor residence has 3 rooms and 1 bedroom; upper residence has 9 rooms and 5 bedrooms
- 0.0704‑acre lot, zoned GR
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 distinct layouts, hardwood flooring, high ceilings, and a fireplace.
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‑unit property with 1,942 square feet of interior area; First‑floor residence has 3 rooms and 1 bedroom; upper residence has 9 rooms and 5 bedrooms; 0.0704‑acre lot, zoned GR
