Two-Unit Duplex with
74-76 Sylvester Street, Lawrence, MA 01843
For Sale
$609,925
Pending
Two separate apartments offer distinct heating, hot water, and laundry systems, with a fenced outdoor area for shared use.
Property Size2,215 SF
Days on Market53
Property Features for 74-76 Sylvester Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Amenities
hardwood floors
fenced backyard
patio
garden area
garage
porch
separate washer and dryer
attic
Building Details
Year Built
Buildings
Listing Agency:
Cameron Prestige - Amesbury
(857) 331-5127
Listed By:
Tami Mallett · License MA #600501976
(603) 986-4300
Source:
Remmesco
Added: Sep 22
Changed: Nov 12
Last Checked: Nov 12 at 4:21PM
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 Cameron Prestige - Amesbury
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Investment Insights
Based on property information with market context.
Built in 1928, this 2,215-square-foot duplex contains two apartments with separate entrances. The first-floor unit has two bedrooms, a living room, a full bath, and a kitchen with a separate galley area. The second-floor apartment includes three bedrooms, a full bath, a private side entrance and porch, plus an unfinished attic for storage. Both units connect directly to the basement and backyard, and each has its own washer and dryer, electric service, and heating and hot water system. The first-floor apartment uses natural gas with on-demand hot water; the upper unit has an oil-fired boiler. A garage connects to the basement. Vinyl siding, newer windows, and a roof approximately four years old complete the property’s features.
The fenced backyard includes a patio and garden area. The property is near the Andover line, with shopping, dining, commuter routes, and area amenities cited nearby. The second-floor unit is rented month-to-month.
The fenced backyard includes a patio and garden area. The property is near the Andover line, with shopping, dining, commuter routes, and area amenities cited nearby. The second-floor unit is rented month-to-month.
Key Highlights
- Two apartments with 2,215 square feet combined
- First‑floor unit has 2 bedrooms; second‑floor unit has 3 bedrooms
- Separate electric, heating and hot water systems, plus a washer and dryer for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,314
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$746,280
$746.3K
Cap Rate 7%
$533,057
$533.1K
Cap Rate 9%
$414,600
$414.6K
Market Conditions
NOI Build-Up for 2,215 SF
Gross rent
$55.8K $25.20/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$53.3K $24.07/SF
− OpEx
−$16.0K −$7.22/SF
NOI
$37.3K $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%
$746,280
Cap Rate 7%
$533,057
Cap Rate 9%
$414,600
Alternative Uses
Best Use
Multifamily LT 5
$533.1K
$466.4K – $621.9K
NOI $37,314 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$481.2K
$421.0K – $561.4K
NOI $33,682 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,789 @ 7.0% cap · market cap 15.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
Explore this area
Business Placement
Demographics for 01843, MA
28,346
Population
10,968
Households
2.6
Avg Household Size
34
Median Age
20%
College-Educated
79%
High-School Grad
3.4 sq mi
ZIP Area
8,337
Density / Sq Mi
$72,163
Median Household Income
$38,957
Median Earnings
$1,703
Median Rent
$393,700
Median Home Value
Market
Average Price Trend$/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 - Two separate apartments offer distinct heating, hot water, and laundry systems, with a fenced outdoor area for shared use.
Where is this duplex located?
The property is located at 74-76 Sylvester Street Lawrence, MA.
What is the asking price?
The asking price for this property is $609,925.
What are key features of this property?
This property features: Two apartments with 2,215 square feet combined; First‑floor unit has 2 bedrooms; second‑floor unit has 3 bedrooms; Separate electric, heating and hot water systems, plus a washer and dryer for each unit
