Duplex With Legal Accessory
For Sale
$1,195,000
7 Draper Dr, Wilmington, MA 01887
Spacious duplex with flexible living areas, a separate apartment, outdoor space, and commuter access.
Property Size3,933 SF
Price / SF$303.84
Days on Market10
Property Features for 7 Draper Dr
General Information
Standard status
Active
Size
3,933 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,862
Amenities
three season porch
updated kitchen
wood burning fireplace
hardwood floors
garage
backyard
laundry area
Listing Agency:
RE/MAX Encore
(617) 840-8326
Listed By:
Rita Patriarca
(617) 840-8326
Source:
Exprealty
Added: Aug 5
Changed: Aug 14
Last Checked: Aug 14 at 7:07AM
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 RE/MAX Encore
Investment Insights
Based on property information with market context.
This 3,933-square-foot duplex combines a primary residence with a legal one-bedroom accessory apartment. The main home includes three bedrooms, hardwood floors, an updated kitchen, open living and dining areas, and a three-season porch. Finished lower-level space adds a family or media room with a wood-burning fireplace, full bath, laundry area, storage, and access to the backyard and garage.
The accessory apartment has an open kitchen and living area, full bath, porch, and additional lower-level storage and recreation space. Recent improvements include a new roof, new hot water tank, a four-year-old heating system, and a new septic distribution box. The property also offers a spacious backyard and is located in Hathaway Acres, with sidewalks and tree-lined streets, two minutes from Route 93 and the North Wilmington commuter rail station.
The accessory apartment has an open kitchen and living area, full bath, porch, and additional lower-level storage and recreation space. Recent improvements include a new roof, new hot water tank, a four-year-old heating system, and a new septic distribution box. The property also offers a spacious backyard and is located in Hathaway Acres, with sidewalks and tree-lined streets, two minutes from Route 93 and the North Wilmington commuter rail station.
Key Highlights
- 3,933‑square‑foot duplex with a legal one‑bedroom accessory apartment
- Main residence includes 3 bedrooms, hardwood floors, and an updated kitchen
- Finished lower level offers a family or media room, wood‑burning fireplace, full bath, laundry, and storage
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
$83,224
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
6.96%
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%
$1,664,480
$1.7M
Cap Rate 7%
$1,188,914
$1.2M
Cap Rate 9%
$924,711
$924.7K
Market Conditions
NOI Build-Up for 3,933 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
$125.1K $31.80/SF
− Vacancy
−$6.2K −$1.57/SF
EGI
$118.9K $30.23/SF
− OpEx
−$35.7K −$9.07/SF
NOI
$83.2K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,664,480
Cap Rate 7%
$1,188,914
Cap Rate 9%
$924,711
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,224 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$1.12M
$978.2K – $1.30M
NOI $78,253 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $162,983 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Explore this area
Business Placement
Demographics for 01887, MA
23,349
Population
8,032
Households
2.9
Avg Household Size
42
Median Age
49%
College-Educated
97%
High-School Grad
17.0 sq mi
ZIP Area
1,373
Density / Sq Mi
$161,473
Median Household Income
$73,770
Median Earnings
$2,412
Median Rent
$646,200
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 - Spacious duplex with flexible living areas, a separate apartment, outdoor space, and commuter access.
Where is this duplex located?
The property is located at 7 Draper Dr Wilmington, MA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 3,933‑square‑foot duplex with a legal one‑bedroom accessory apartment; Main residence includes 3 bedrooms, hardwood floors, and an updated kitchen; Finished lower level offers a family or media room, wood‑burning fireplace, full bath, laundry, and storage
