Townhouse-Style
New
For Sale
$699,900
57-59 Butler Street, Lawrence, MA 01841
Each residence has three bedrooms, with five full bathrooms across the two units.
Property Size2,804 SF
Price / SF$249.61
Days on Market5
Property Features for 57-59 Butler Street
General Information
Standard status
Active
Size
2,804 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Amenities
partially finished basement
deck
patio
off-street parking
Building Details
Year Built
1987
Construction
townhouse style
Listing Agency:
Lillian Montalto Signature Properties
Listed By:
Team Lillian Montalto
(978) 475-1400
Source:
Miketoomeyrealestate
Added: Oct 13
Changed: Oct 16
Last Checked: Oct 16 at 8:34AM
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 Lillian Montalto Signature Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1987, this 2,804-square-foot duplex contains two townhouse-style residences, each arranged across multiple levels and configured with three bedrooms. The units have five full bathrooms combined. Additional features include a partially finished basement, a deck, a patio, and off-street parking. The hot water tanks are approximately two years old.
The property is in Lawrence, near public transportation, shopping, parks, and major highways. It is zoned R2.
The property is in Lawrence, near public transportation, shopping, parks, and major highways. It is zoned R2.
Key Highlights
- Two residences, each with three bedrooms
- Five full bathrooms across both units
- 2,804 square feet; built in 1987
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,237
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$944,740
$944.7K
Cap Rate 7%
$674,814
$674.8K
Cap Rate 9%
$524,856
$524.9K
Market Conditions
NOI Build-Up for 2,804 SF
Gross rent
$70.7K $25.20/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$67.5K $24.07/SF
− OpEx
−$20.2K −$7.22/SF
NOI
$47.2K $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 Rate 5%
$944,740
Cap Rate 7%
$674,814
Cap Rate 9%
$524,856
Alternative Uses
Best Use
Multifamily LT 5
$674.8K
$590.5K – $787.3K
NOI $47,237 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$609.1K
$533.0K – $710.7K
NOI $42,639 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,197 @ 7.0% cap · market cap 16.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,034
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
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, with five full bathrooms across the two units.
Where is this duplex located?
The property is located at 57-59 Butler Street 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 residences, each with three bedrooms; Five full bathrooms across both units; 2,804 square feet; built in 1987
