Two-Unit Duplex with Detached
New
For Sale
$580,000
3 Oakwood Avenue, Lawrence, MA 01841
Tenant-occupied duplex with separate living spaces, storage, outdoor areas, and convenient regional highway access.
Property Size1,856 SF
Price / SF$312.50
Days on Market5
Property Features for 3 Oakwood Avenue
General Information
Standard status
Active
Size
1,856 SF
Total Parking Spaces
2
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
enclosed porches
breakfast area
common basement laundry
basement and attic storage
private backyard with storage shed
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Coldwell Banker Realty - Andovers/Readings Regional
Listed By:
Jennifer Mason
(978) 922-2700
Source:
Jbarrettrealty
Added: Sep 2
Changed: Sep 5
Last Checked: Sep 5 at 7:46AM
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 Coldwell Banker Realty - Andovers/Readings Regional
Investment Insights
Based on property information with market context.
This 1,856-square-foot duplex contains two vertically arranged units with four bedrooms and two full bathrooms. Interior details include hardwood flooring, ceramic-tile bathrooms, enclosed porches for both residences, and a breakfast area in the upper unit. Gas heat serves the property, while shared basement laundry and storage in both the basement and attic add practical utility. The parcel also includes a private backyard, storage shed, detached two-car garage, and additional off-street parking.
Recent property updates include vinyl siding completed in August 2026, an electrical improvement made approximately two years ago, and a roof that is approximately 10 years old. The home was built in 1900 and is located near Routes 495 and 93. Tenants are in place under leases running through June 30, 2027.
Recent property updates include vinyl siding completed in August 2026, an electrical improvement made approximately two years ago, and a roof that is approximately 10 years old. The home was built in 1900 and is located near Routes 495 and 93. Tenants are in place under leases running through June 30, 2027.
Key Highlights
- Two‑unit duplex with 1,856 SF of total property size
- Four bedrooms and two full bathrooms across two units
- Detached 2‑car garage plus ample off‑street parking
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
$31,267
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
5.39%
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%
$625,340
$625.3K
Cap Rate 7%
$446,671
$446.7K
Cap Rate 9%
$347,411
$347.4K
Market Conditions
NOI Build-Up for 1,856 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
$46.8K $25.20/SF
− Vacancy
−$2.1K −$1.13/SF
EGI
$44.7K $24.07/SF
− OpEx
−$13.4K −$7.22/SF
NOI
$31.3K $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 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%
$625,340
Cap Rate 7%
$446,671
Cap Rate 9%
$347,411
Alternative Uses
Best Use
Multifamily LT 5
$446.7K
$390.8K – $521.1K
NOI $31,267 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$403.2K
$352.8K – $470.4K
NOI $28,223 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$1.10M
$961.4K – $1.28M
NOI $76,912 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
796
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied duplex with separate living spaces, storage, outdoor areas, and convenient regional highway access.
Where is this duplex located?
The property is located at 3 Oakwood Avenue Lawrence, MA.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,856 SF of total property size; Four bedrooms and two full bathrooms across two units; Detached 2‑car garage plus ample off‑street parking
