Three-Family Home with
New
For Sale
$774,000
46 Manchester St, Lawrence, MA 01841
A vacant, partially renovated three-bedroom apartment offers separate living and dining rooms and the opportunity to select kitchen finishes.
Property Size2,633 SF
Price / SF$293.96
Days on Market4
Property Features for 46 Manchester St
General Information
Standard status
Active
Size
2,633 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
partway through a renovation
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,100
Amenities
balcony
rear decks
fenced yard
full basement
off-street driveway parking
Building Details
Year Built
1910
Buildings
1
Listing Agency:
eXp Realty LLC
(888) 854-7493
Listed By:
Ann Bennett
(603) 682-7744
Source:
Exprealty
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 2:38PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This 1910 triplex contains 2,633 square feet, with eight bedrooms and three full baths across three apartments. The second-floor, three-bedroom unit is vacant and mid-renovation; it measures approximately 850 square feet and includes separate living and dining rooms, wood-look flooring, and a bay window in the primary bedroom. Kitchen cabinetry, counters, and finishes remain to be selected. The top-floor one-bedroom apartment has a balcony, and a first-floor unit completes the configuration.
Building features include gas steam heat, separate electric meters, aluminum and vinyl siding, a full basement, rear decks, driveway parking, and a fenced yard. The property is near downtown Lawrence, shopping, commuter rail service, and I-495.
Building features include gas steam heat, separate electric meters, aluminum and vinyl siding, a full basement, rear decks, driveway parking, and a fenced yard. The property is near downtown Lawrence, shopping, commuter rail service, and I-495.
Key Highlights
- Three‑family property with 8 bedrooms and 3 full baths
- 2,633 square feet; built in 1910
- Vacant second‑floor unit has 3 bedrooms and approximately 850 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,356
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$887,120
$887.1K
Cap Rate 7%
$633,657
$633.7K
Cap Rate 9%
$492,844
$492.8K
Market Conditions
NOI Build-Up for 2,633 SF
Gross rent
$66.4K $25.20/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$63.4K $24.07/SF
− OpEx
−$19.0K −$7.22/SF
NOI
$44.4K $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 Rate 5%
$887,120
Cap Rate 7%
$633,657
Cap Rate 9%
$492,844
Alternative Uses
Best Use
Multifamily LT 5
$633.7K
$554.5K – $739.3K
NOI $44,356 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$572.0K
$500.5K – $667.3K
NOI $40,038 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,111 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,215
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
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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?
Triplex - A vacant, partially renovated three-bedroom apartment offers separate living and dining rooms and the opportunity to select kitchen finishes.
Where is this triplex located?
The property is located at 46 Manchester St Lawrence, MA.
What is the asking price?
The asking price for this property is $774,000.
What are key features of this property?
This property features: Three‑family property with 8 bedrooms and 3 full baths; 2,633 square feet; built in 1910; Vacant second‑floor unit has 3 bedrooms and approximately 850 square feet
