Two-Family Home with Full
For Sale
$690,000
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$471.31
Days on Market43
Property Features for 48 Washington St
General Information
Standard status
Active
Size
1,464 SF
Total Parking Spaces
6
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,565
Amenities
backyard
basement
Building Details
Buildings
1
Listing Agency:
eXp Realty LLC
(888) 854-7493
Listed By:
Daptfanim Martinez · License #9589080
(646) 577-0958
Source:
Exprealty
Added: Aug 24
Changed: Oct 2
Last Checked: Oct 4 at 1:00PM
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 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 / Yr
$24,663
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
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
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 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 3.57%
Second Best
Apartment 5plus
$318.0K
$278.3K – $371.0K
NOI $22,262 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$866.7K
$758.4K – $1.01M
NOI $60,668 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
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 $690,000.
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
