Building Details

Building Size 1,878 SF

Year Built 1900

Buildings 1

Stories 3

Listing Agency: Colonial Manor Realty

Listed By: Theo Carmone Show Phone

Source: Hometown-team

Added: May 6 Changed: Oct 7 Last Checked: Sep 26 at 8:32AM

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Investment Insights

Based on property information with market context.

This 1,878-square-foot duplex, built in 1900, contains two separate residential units. The first-floor apartment has two bedrooms, a step-down living room, and abundant natural light. The second unit includes one bedroom, in-unit laundry, generous living space, and storage on the third floor.

Set on a corner lot, the property provides outdoor space for gardening or entertaining. The home is located a short distance from downtown Wakefield amenities, including Lake Quannapowitt, restaurants, shopping, and public transportation.

Key Highlights

• Two‑unit duplex with 1,878 square feet of living area
• Built in 1900 and positioned on a corner lot
• First‑floor unit includes 2 bedrooms and a step‑down living room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,739

Cap Rate

6.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$794,780 $794.8K

Cap Rate 7%

$567,700 $567.7K

Cap Rate 9%

$441,544 $441.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,878 SF

Gross rent

$59.7K $31.80/SF

− Vacancy

−$3.0K −$1.57/SF

EGI

$56.8K $30.23/SF

− OpEx

−$17.0K −$9.07/SF

NOI

$39.7K $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%

$794,780

Cap Rate 7%

$567,700

Cap Rate 9%

$441,544

Alternative Uses

Best Use

Multifamily LT 5

$567.7K

$496.7K – $662.3K (±1% cap)

NOI $39,739 @ 7.0% cap · market cap 6.62%

Second Best

Apartment 5plus

$533.8K

$467.1K – $622.8K (±1% cap)

NOI $37,366 @ 7.0% cap · market cap 6.23%

Theoretical Best

Office A

$1.11M

$972.8K – $1.30M (±1% cap)

NOI $77,824 @ 7.0% cap · market cap 12.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Locksmith (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Furniture & Home Goods Carpet & Flooring Store Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

666

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two residential units offer distinct layouts, in-unit laundry, third-floor storage, and outdoor space on a corner lot.

Where is this duplex located?

The property is located at 4 Wiley Pl Wakefield, MA.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: Two‑unit duplex with 1,878 square feet of living area; Built in 1900 and positioned on a corner lot; First‑floor unit includes 2 bedrooms and a step‑down living room