Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Two-Family Property on Large Lot Title is generated by Realmo AI

    83 Merrimac Street, Woburn, MA 01801

    View on Map
    Claim this Listing
    New
    For Sale
    $775,000

    Two-family property with recent renovations, ideal for investors or owner-occupants.

    Type:Multi-family / 2 Family
    Property size:
    1,906 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $406/SF
    Added:
    May 25, 2026
    Days on Market:
    4
    Last Refresh:
    May 27 at 8:01 am

    Property Features for 83 Merrimac Street

    General Information

    Standard status
    Active
    Size
    1,906 SF
    Lot size
    0.22 Acres
    Property subtype
    Multi-family / 2 Family

    Building Details

    Year Built
    1981

    We can help!

    Listing Contact
    The Synergy Group

    Listing office The Synergy Group

    Listing date May 25, 2026

    Source Compass

    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 The Synergy Group

    HighLights

    • Two completely renovated units, ideal for rental income, multi‑generational living, or owner‑occupancy.
    • Large 9,583 sq ft lot with development potential, private yards, and generous parking with dedicated driveways.
    • Each unit features 2 beds, 1 bath, and laundry hookups with separate utilities.
    • Newer roof (2022) and vinyl siding for low maintenance.
    • Convenient location for commuters to Boston, close to shopping, dining, and major highways (I‑93 & I‑95).
    • First floor unit features a renovated kitchen with white cabinetry and granite countertops.

    Overview

    This two-family split-entry style property is situated on a 9,583 sq ft lot. It is suitable for investment, owner-occupants, multi-generational living, or development. Each unit features 2 beds, 1 bath, laundry hookups, separate utilities, generous parking with dedicated driveways, and private yards. The first-floor unit has been recently renovated, showcasing a kitchen with white cabinetry and granite countertops, a living room, and a bathroom with a tub. The second-floor unit has undergone a complete renovation and includes a new kitchen, living room, bathroom with tub, tile flooring, shelving, and a dedicated laundry room with hookups. Both units have separate utilities and electric baseboard heat. The property includes a newer roof installed in 2022 and vinyl siding. The location is convenient for commuters going into Boston and is close to shopping, dining, and major highways (I-93 & I-95). The property size is 1906 sq ft.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $448.1K
    NOI $40,332 @ 9.00% cap · cautious / downside scenario
    Moderate
    $576.2K
    NOI $40,332 @ 7.00% cap · market / base-case scenario
    Aggressive
    $806.6K
    NOI $40,332 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $60.6k $31.80
    − Vacancy −$3.0k −$1.57
    EGI $57.6k $30.23
    − OpEx −$17.3k −$9.07
    NOI $40.3k $21.16
    1,906 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $576.2K
    $504.2K – $672.2K (±1% cap)
    NOI $40,332 @ 7.0% cap · market cap 5.20%
    Second Best
    Apartment 5plus
    $541.8K
    $474.0K – $632.1K (±1% cap)
    NOI $37,923 @ 7.0% cap · market cap 4.89%
    Theoretical Best
    Office A
    $1.13M
    $987.3K – $1.32M (±1% cap)
    NOI $78,984 @ 7.0% cap · market cap 10.19%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Daycare Center Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Woburn
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1513015
    Latitude
    42.5129461

    Nearby Similar for Sale

    • $1,099,000
      3,204 SF

      Woburn Multifamily Investment Opportunity

      Well-maintained Woburn three-family property near Winchester/Lexington line.
      253 Lexington St, Woburn, MA 01801
      View Details
    • $1,000,000
      2,720 SF

      North Woburn Duplex Investment Opportunity

      Desirable Woburn duplex, renovated unit, convenient location, income potential.
      54 Winter Street, Woburn, MA 01801
      View Details
    • $750,000
      9,999 SF

      Woburn Multifamily Investment Opportunity

      Two homes on one lot, ideal for investors/contractors.
      66-70 Park St, Woburn, MA 01801
      View Details
    • $7,500,000
      53,319 SF

      Woburn Food Processing Facility

      USDA/FDA certified food processing and distribution facility on 4.05 acres.
      16 Conn St, Woburn, MA 01801
      View Details
    • Contact for pricing
      2,980 SF

      Woburn Industrial Building with Drive-Ins

      Freestanding 2,980 SF industrial building with excellent highway access.
      5 Hancock St, Woburn, MA 01801
      View Details
    • $599,900
      2,232 SF

      Second Floor Office Unit

      2,232 sq ft office unit for sale.
      19 Sixth Rd C, Woburn, MA 01801
      View Details
    • $750,000

      Two Homes on One Lot

      Two homes on one lot needing refreshing and updates.
      66-70 Park St, Woburn, MA 01801
      View Details
    • Contact for pricing
      53,319 SF

      Woburn Food Processing Facility

      53,319 SF food processing and distribution facility on 4.05 acres.
      16 Conn St, Woburn, MA 01801
      View Details
    • $729,999

      Woburn Multi-Family Investment Opportunity

      Three-unit property in Woburn with investment and owner-occupancy potential.
      3 Kearsarge Ave, Woburn, MA 01801
      View Details
    • $1,549,000
      3,782 SF

      Former Bank Branch Office Building

      Two-story commercial building suitable for owner-user or investment.
      573 Main St, Woburn, MA
      View Details
    • $1,099,000

      Woburn Multifamily Investment Opportunity

      Well-maintained Woburn 3-family near Winchester/Lexington line.
      253 Lexington St, Woburn, MA 01801
      View Details
    • Contact for pricing
      20,000 SF

      Woburn Warehouse For Sale

      20,000 SF warehouse available for sale in Woburn, MA.
      12 Walnut Hill Park, Woburn, MA
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-family property with recent renovations, ideal for investors or owner-occupants.
    Where is this duplex located?
    The property is located at 83 Merrimac Street Woburn, MA.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: Two completely renovated units, ideal for rental income, multi‑generational living, or owner‑occupancy.; Large 9,583 sq ft lot with development potential, private yards, and generous parking with dedicated driveways.; Each unit features 2 beds, 1 bath, and laundry hookups with separate utilities.
    (888) 410-5454
    We can help!
    Listing Contact
    The Synergy Group
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    83 Merrimac Street, Woburn, MA 01801
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!