Renovated Two-Family
5 Blakelin St, Lawrence, MA 01841
For Sale
$750,000
Pending
The property includes updated plumbing and electrical systems, off-street parking, and a backyard.
Property Size1,816 SF
Days on Market59
Property Features for 5 Blakelin St
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Realty Negotiations, LLC
(978) 406-5134
Listed By:
Edward Santana
(978) 943-3087
Source:
Remmesco
Added: Sep 16
Changed: Nov 12
Last Checked: Nov 12 at 6:35PM
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 Realty Negotiations, LLC
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Investment Insights
Based on property information with market context.
This two-family duplex contains 1,816 square feet and was built in 1920. Renovations include new plumbing and an updated electrical system, along with additional upgrades. The property also has off-street parking and a backyard suited to outdoor use.
Located on a dead-end street in Lawrence, the property is within the city.
Located on a dead-end street in Lawrence, the property is within the city.
Key Highlights
- Two‑family property with 1,816 square feet
- Renovated with new plumbing and an updated electrical system
- Off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,593
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,860
$611.9K
Cap Rate 7%
$437,043
$437.0K
Cap Rate 9%
$339,922
$339.9K
Market Conditions
NOI Build-Up for 1,816 SF
Gross rent
$45.8K $25.20/SF
− Vacancy
−$2.1K −$1.13/SF
EGI
$43.7K $24.07/SF
− OpEx
−$13.1K −$7.22/SF
NOI
$30.6K $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%
$611,860
Cap Rate 7%
$437,043
Cap Rate 9%
$339,922
Alternative Uses
Best Use
Multifamily LT 5
$437.0K
$382.4K – $509.9K
NOI $30,593 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$394.5K
$345.2K – $460.3K
NOI $27,615 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$1.08M
$940.7K – $1.25M
NOI $75,255 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
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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
$393,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lawrence, MA
Properties on Market for Duplexes in Lawrence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The property includes updated plumbing and electrical systems, off-street parking, and a backyard.
Where is this duplex located?
The property is located at 5 Blakelin St Lawrence, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑family property with 1,816 square feet; Renovated with new plumbing and an updated electrical system; Off‑street parking
