Well-Maintained Duplex with
For Sale
$799,000
5 Lafayette Road, Ipswich, MA 01938
Two-unit property with hardwood floors, full basement storage, off-street parking, and convenient access to downtown and commuter rail.
Property Size2,033 SF
Price / SF$393.02
Days on Market144
Property Features for 5 Lafayette Road
General Information
Standard status
Active
Size
2,033 SF
Total Parking Spaces
3
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
IR
Net Operating Income
$61,800
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,602
Amenities
off-street parking
laundry
storage
No
Hardwood
Range, Oven, Dishwasher, Refrigerator, Washer, Dryer
2.0
Electric Dryer Hookup, Washer Hookup
Full, Bulkhead, Concrete Floor
Bathroom With Tub & Shower, Living Room, Dining Room, Kitchen
2
2.00
Frame
Shingle
Level
Shed(s)
Porch, Deck
Building Details
Year Built
1900
Buildings
1
Listing Agency:
J. Barrett & Company
(978) 922-3683
Listed By:
Laura Crowell · License #9586902
(978) 922-3683
Source:
Compass
Added: Apr 9
Changed: Aug 29
Last Checked: Aug 29 at 1:05PM
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 J. Barrett & Company
Investment Insights
Based on property information with market context.
This two-family property contains 2,033 square feet across two residential units, with layouts that include bedrooms, living and dining areas, kitchens, and full bathrooms. Hardwood flooring, natural light, and included appliances add practical functionality. A full basement with concrete flooring provides laundry space and storage, while the exterior includes a porch, deck, and shed. Off-street parking is also available.
Built in 1900, the property is located at 5 Lafayette Road in Ipswich, Massachusetts, one block from the commuter rail and downtown. The site is zoned IR, and the building’s two-unit configuration provides a straightforward multifamily layout in a location suited to rail access and proximity to downtown amenities.
Built in 1900, the property is located at 5 Lafayette Road in Ipswich, Massachusetts, one block from the commuter rail and downtown. The site is zoned IR, and the building’s two-unit configuration provides a straightforward multifamily layout in a location suited to rail access and proximity to downtown amenities.
Key Highlights
- 2,033 SF two‑family property with 2 residential units
- Full basement with concrete floor, laundry hookups, and storage space
- Hardwood flooring and included range, oven, dishwasher, refrigerator, washer, and dryer
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
$34,248
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
4.29%
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%
$684,960
$685.0K
Cap Rate 7%
$489,257
$489.3K
Cap Rate 9%
$380,533
$380.5K
Market Conditions
NOI Build-Up for 2,033 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
$51.2K $25.20/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$48.9K $24.07/SF
− OpEx
−$14.7K −$7.22/SF
NOI
$34.2K $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%
$684,960
Cap Rate 7%
$489,257
Cap Rate 9%
$380,533
Alternative Uses
Best Use
Multifamily LT 5
$489.3K
$428.1K – $570.8K
NOI $34,248 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$441.6K
$386.4K – $515.3K
NOI $30,915 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,247 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 01938, MA
13,785
Population
6,270
Households
2.2
Avg Household Size
51
Median Age
57%
College-Educated
98%
High-School Grad
32.1 sq mi
ZIP Area
429
Density / Sq Mi
$124,405
Median Household Income
$62,161
Median Earnings
$1,525
Median Rent
$701,400
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 - Two-unit property with hardwood floors, full basement storage, off-street parking, and convenient access to downtown and commuter rail.
Where is this duplex located?
The property is located at 5 Lafayette Road Ipswich, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,033 SF two‑family property with 2 residential units; Full basement with concrete floor, laundry hookups, and storage space; Hardwood flooring and included range, oven, dishwasher, refrigerator, washer, and dryer
