Side-by-Side
New
For Sale
$720,000
30-32 Washington St, Lawrence, MA 01841
Two distinct units offer updated kitchens and bathrooms, hot water baseboard heat, and separate layouts.
Property Size3,424 SF
Price / SF$210.28
Days on Market7
Property Features for 30-32 Washington St
General Information
Standard status
Active
Size
3,424 SF
Property subtype
Residential Income
Zoning
R-3
Net Operating Income
$30,000
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,558
Amenities
fenced-in backyard
cable ready
Building Details
Building Size
3,424 SF
Year Built
1880
Buildings
1
Stories
4
Listing Agency:
Century 21 North East
(413) 786-0584
Listed By:
Nicolas Corteggiano · License #452508574
Source:
Insightrealtygroup
Added: Aug 25
Changed: Aug 31
Last Checked: Aug 31 at 12:33PM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residential units, each with its own layout. Both apartments feature updated kitchen cabinetry and bathrooms, along with hot water baseboard heating and cable-ready service. The property has vinyl siding and a fenced backyard, with 3424 square feet of total property size and a 1880 construction date.
Located at 30-32 Washington St in Lawrence, the property sits on a quiet one-way street with access to Route 495 and Route 93. Tax-free shopping in New Hampshire is also nearby. The two-unit configuration may accommodate an owner-occupant seeking rental income or an investor expanding a residential income portfolio.
Located at 30-32 Washington St in Lawrence, the property sits on a quiet one-way street with access to Route 495 and Route 93. Tax-free shopping in New Hampshire is also nearby. The two-unit configuration may accommodate an owner-occupant seeking rental income or an investor expanding a residential income portfolio.
Key Highlights
- Two‑unit side‑by‑side duplex with separate layouts
- 3424 total property size
- Updated kitchen cabinets and bathrooms in both units
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
$57,681
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
8.01%
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%
$1,153,620
$1.2M
Cap Rate 7%
$824,014
$824.0K
Cap Rate 9%
$640,900
$640.9K
Market Conditions
NOI Build-Up for 3,424 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
$86.3K $25.20/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$82.4K $24.07/SF
− OpEx
−$24.7K −$7.22/SF
NOI
$57.7K $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%
$1,153,620
Cap Rate 7%
$824,014
Cap Rate 9%
$640,900
Alternative Uses
Best Use
Multifamily LT 5
$824.0K
$721.0K – $961.4K
NOI $57,681 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$743.8K
$650.8K – $867.8K
NOI $52,067 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$2.03M
$1.77M – $2.36M
NOI $141,890 @ 7.0% cap · market cap 19.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,694
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 - Two distinct units offer updated kitchens and bathrooms, hot water baseboard heat, and separate layouts.
Where is this duplex located?
The property is located at 30-32 Washington St Lawrence, MA.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with separate layouts; 3424 total property size; Updated kitchen cabinets and bathrooms in both units
