Duplex with Accessory
For Sale
Under Contract
$1,145,000
7 Draper Dr, Wilmington, MA 01887
Residential Income, Wilmington, MA
Property Size3,933 SF
Lot Size0.52 Acres
Price / SF$291.13
Days on Market42
Property Features for 7 Draper Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2
Parking
6
Fireplace
1
Elementary school
Woburn St/North
Middle school
Wms
High school
Whs
Directions
Route 62 to Thrush Road or Marie Drive to Gunderson, follow to Draper Drive
Subdivision
North Wilmington
Standard status
Active Under Contract
APN
M:0101 L:0016 P:0216,890403
Size
3,933 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10862
Building Details
Year built
1967
Floors in Building
4
Number of units
2
Listing Agency:
RE/MAX Encore · RE/MAX International
(978) 988-0028
Listed By:
Elaine Hoff · License #448500476
(978) 375-5514
Added: Aug 5
Changed: Sep 14
Last Checked: Sep 15 at 7:06PM
MLS# 73559454
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex combines a spacious primary residence with a separate legal accessory apartment. The main unit includes open living and dining areas, an updated kitchen, a three-season porch, and three bedrooms with hardwood floors. Its finished lower level adds a family or media room with a wood-burning fireplace, full bath, laundry area, storage, and access to the backyard and garage. The apartment has an open-concept kitchen and living area, one bedroom, a full bath, its own porch, and additional lower-level storage and recreation space.
The property occupies 0.52 acres in Wilmington, with sidewalks and tree-lined neighborhood streets. Route 93 and the North Wilmington commuter rail station are approximately two minutes away. Additional improvements include a new roof, new hot water tank, four-year-old heating system, and new septic distribution box. The building was constructed in 1967 and contains 3,933 square feet.
The property occupies 0.52 acres in Wilmington, with sidewalks and tree-lined neighborhood streets. Route 93 and the North Wilmington commuter rail station are approximately two minutes away. Additional improvements include a new roof, new hot water tank, four-year-old heating system, and new septic distribution box. The building was constructed in 1967 and contains 3,933 square feet.
Key Highlights
- Separate legal one‑bedroom accessory apartment with kitchen, living area, full bath, porch, and lower‑level space
- 3,933 square feet on a 0.52‑acre parcel
- Main residence includes 3 bedrooms with hardwood floors
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
7.27%
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 7.27%
Second Best
Apartment 5plus
$1.12M
$978.2K – $1.30M
NOI $78,253 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $162,983 @ 7.0% cap · market cap 14.23%
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
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
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 - Main residence offers flexible living areas, finished lower-level space, and a separate one-bedroom apartment.
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 $1,145,000.
What are key features of this property?
This property features: Separate legal one‑bedroom accessory apartment with kitchen, living area, full bath, porch, and lower‑level space; 3,933 square feet on a 0.52‑acre parcel; Main residence includes 3 bedrooms with hardwood floors
