3-Unit Multifamily
For Sale
$805,000
95 Myrtle Street, Lawrence, MA 01841
Three residential units provide an eight-bedroom layout with private kitchens, living areas, and off-street parking.
Property Size2,432 SF
Price / SF$331
Days on Market74
Property Features for 95 Myrtle Street
General Information
Standard status
Active
Size
2,432 SF
Total Parking Spaces
8
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
Realty ONE Group Nest
Listed By:
Santos Taveras
(978) 658-2345
Source:
Wilsonwolfe
Added: Jun 18
Changed: Aug 29
Last Checked: Jul 4 at 3:50AM
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 Realty ONE Group Nest
Investment Insights
Based on property information with market context.
This three-unit residential property contains eight bedrooms and three full bathrooms. The unit mix includes two three-bedroom layouts and one two-bedroom layout, with each residence offering a kitchen, living room, and one bathroom. Built in 1900, the property provides 2,432 square feet of space and off-street parking for up to 8 vehicles.
The property is located at 95 Myrtle Street in Lawrence, Massachusetts, near shopping, schools, local amenities, and major commuter routes. Its configuration supports a range of multifamily occupancy arrangements, with distinct residential units and practical on-site parking.
The property is located at 95 Myrtle Street in Lawrence, Massachusetts, near shopping, schools, local amenities, and major commuter routes. Its configuration supports a range of multifamily occupancy arrangements, with distinct residential units and practical on-site parking.
Key Highlights
- Three‑unit multifamily property with 8 bedrooms and 3 full bathrooms
- Unit mix includes two 3‑bedroom units and one 2‑bedroom unit
- Each residence includes a kitchen and living room
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
$40,970
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
5.09%
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%
$819,400
$819.4K
Cap Rate 7%
$585,286
$585.3K
Cap Rate 9%
$455,222
$455.2K
Market Conditions
NOI Build-Up for 2,432 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
$61.3K $25.20/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$58.5K $24.07/SF
− OpEx
−$17.6K −$7.22/SF
NOI
$41.0K $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 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%
$819,400
Cap Rate 7%
$585,286
Cap Rate 9%
$455,222
Alternative Uses
Best Use
Multifamily LT 5
$585.3K
$512.1K – $682.8K
NOI $40,970 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$528.3K
$462.3K – $616.4K
NOI $36,982 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,781 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,083
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units provide an eight-bedroom layout with private kitchens, living areas, and off-street parking.
Where is this triplex located?
The property is located at 95 Myrtle Street Lawrence, MA.
What is the asking price?
The asking price for this property is $805,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 8 bedrooms and 3 full bathrooms; Unit mix includes two 3‑bedroom units and one 2‑bedroom unit; Each residence includes a kitchen and living room
