Two-Family Home with Full
New
For Sale
$699,900
48 Washington St, Lawrence, MA 01841
Duplex with four bedrooms, two full bathrooms, private parking, and basement access from inside and outside.
Property Size1,464 SF
Price / SF$478.07
Days on Market5
Property Features for 48 Washington St
General Information
Standard status
Active
Size
1,464 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
backyard
basement
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Luxe Home Team, 1St Knock Realty
(617) 595-5082
Listed By:
David Sampson Group · License #9589080
(617) 595-5082
Source:
Sampsonrealtygroup
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 8:58AM
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 Luxe Home Team, 1St Knock Realty
Investment Insights
Based on property information with market context.
This duplex contains two residential units with a combined layout of 4 bedrooms and 2 full bathrooms. The property includes 1,464 square feet, a full basement with both interior and walk-out entry, and a driveway accommodating up to 6 vehicles. A backyard provides additional outdoor space.
Built in 1900, the home is located at 48 Washington St in Lawrence, Massachusetts. Shopping, schools, public transportation, and major routes are identified in the surrounding area. The two-unit configuration can support an owner-occupant arrangement with a separate rental unit or continued use as a multifamily property.
Built in 1900, the home is located at 48 Washington St in Lawrence, Massachusetts. Shopping, schools, public transportation, and major routes are identified in the surrounding area. The two-unit configuration can support an owner-occupant arrangement with a separate rental unit or continued use as a multifamily property.
Key Highlights
- Two‑family property with 4 total bedrooms and 2 full bathrooms
- 1,464 square feet of residential space
- Full basement with interior and walk‑out access
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
$24,663
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
3.52%
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%
$493,260
$493.3K
Cap Rate 7%
$352,329
$352.3K
Cap Rate 9%
$274,033
$274.0K
Market Conditions
NOI Build-Up for 1,464 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
$36.9K $25.20/SF
− Vacancy
−$1.7K −$1.13/SF
EGI
$35.2K $24.07/SF
− OpEx
−$10.6K −$7.22/SF
NOI
$24.7K $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%
$493,260
Cap Rate 7%
$352,329
Cap Rate 9%
$274,033
Alternative Uses
Best Use
Multifamily LT 5
$352.3K
$308.3K – $411.1K
NOI $24,663 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$318.0K
$278.3K – $371.0K
NOI $22,262 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$866.7K
$758.4K – $1.01M
NOI $60,668 @ 7.0% cap · market cap 8.67%
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with four bedrooms, two full bathrooms, private parking, and basement access from inside and outside.
Where is this duplex located?
The property is located at 48 Washington St Lawrence, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two‑family property with 4 total bedrooms and 2 full bathrooms; 1,464 square feet of residential space; Full basement with interior and walk‑out access
