Residential Income Property with
For Sale
$809,000
439-441 High St, Lawrence, MA 01841
R2-zoned property featuring natural gas baseboard heat, paved surfaces, and off-street parking.
Property Size3,306 SF
Price / SF$244.71
Days on Market166
Property Features for 439-441 High St
General Information
Standard status
Active
Size
3,306 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
R2
Taxes and HOA fees
Annual Taxes
$6,884
Amenities
Natural Gas, Baseboard
Interior Entry, Concrete, Unfinished
Washer, Dryer, Range, Dishwasher, Refrigerator, Gas Water Heater
Paved, Off Street
Building Details
Building Size
3,306 SF
Year Built
1920
Stories
2
Listed By:
Kelly King
(978) 210-4340
Source:
Evrealestate
Added: Mar 24
Changed: Aug 29
Last Checked: Aug 31 at 2:29PM
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 Kelly King
Investment Insights
Based on property information with market context.
Built in 1920, this residential income property includes natural gas baseboard heating, an interior-entry unfinished concrete area, and a kitchen equipped with a range, dishwasher, refrigerator, and gas water heater. Washer and dryer appliances are also included. The property has paved exterior surfaces and off-street parking.
The property is located at 439-441 High St in Lawrence, Massachusetts, within Essex County. R2 zoning applies to the site. The recorded property size is 3,306, and the address identifies the asset with two street numbers.
The property is located at 439-441 High St in Lawrence, Massachusetts, within Essex County. R2 zoning applies to the site. The recorded property size is 3,306, and the address identifies the asset with two street numbers.
Key Highlights
- R2 zoning
- Built in 1920
- 3,306 recorded property size
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
$50,272
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
6.21%
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%
$1,005,440
$1.0M
Cap Rate 7%
$718,171
$718.2K
Cap Rate 9%
$558,578
$558.6K
Market Conditions
NOI Build-Up for 3,306 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
$95.2K $28.80/SF
− Vacancy
−$3.8K −$1.15/SF
EGI
$91.4K $27.65/SF
− OpEx
−$41.1K −$12.44/SF
NOI
$50.3K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,005,440
Cap Rate 7%
$718,171
Cap Rate 9%
$558,578
Alternative Uses
Best Use
Apartment 5plus
$718.2K
$628.4K – $837.9K
NOI $50,272 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $137,000 @ 7.0% cap · market cap 16.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - R2-zoned property featuring natural gas baseboard heat, paved surfaces, and off-street parking.
Where is this residential income property located?
The property is located at 439-441 High St Lawrence, MA.
What is the asking price?
The asking price for this property is $809,000.
What are key features of this property?
This property features: R2 zoning; Built in 1920; 3,306 recorded property size
