Two-Unit Duplex with
For Sale
$770,000
97-97a Ferry, Lawrence, MA 01841
Each residence has three bedrooms, a full bath, hardwood floors, and separate living and dining areas.
Property Size2,840 SF
Price / SF$271.13
Days on Market11
Property Features for 97-97a Ferry
General Information
Standard status
Active
Size
2,840 SF
Total Parking Spaces
8
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updating and TLC
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Century 21 McLennan & Company
Listed By:
Gabrielle Allen · License #9539287
(978) 408-1389
Source:
Ballowhutchinsonrealestate
Added: Oct 5
Changed: Oct 13
Last Checked: Oct 12 at 8:45PM
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 Century 21 McLennan & Company
Investment Insights
Based on property information with market context.
Built in 1910, this two-family duplex at 97-97a Ferry in Lawrence offers 2,840 square feet of living space. Both units include three bedrooms, one full bath, hardwood floors, and distinct living and dining rooms. The property also has a 1,420-square-foot basement and a walk-up attic, along with a detached two-car garage and a driveway that accommodates up to six vehicles. The backyard provides additional outdoor space. The property will be delivered vacant and needs cosmetic updating.
Mechanical updates include a first-floor furnace installed four years ago, replacement parts added to the second-floor furnace last year, and water heaters replaced in 2017 and 2025. The roof is approximately 15 years old.
Mechanical updates include a first-floor furnace installed four years ago, replacement parts added to the second-floor furnace last year, and water heaters replaced in 2017 and 2025. The roof is approximately 15 years old.
Key Highlights
- Two units, each with three bedrooms and one full bath
- 2,840 square feet of living space
- 1,420‑square‑foot basement and walk‑up attic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,843
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,860
$956.9K
Cap Rate 7%
$683,471
$683.5K
Cap Rate 9%
$531,589
$531.6K
Market Conditions
NOI Build-Up for 2,840 SF
Gross rent
$71.6K $25.20/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$68.3K $24.07/SF
− OpEx
−$20.5K −$7.22/SF
NOI
$47.8K $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%
$956,860
Cap Rate 7%
$683,471
Cap Rate 9%
$531,589
Alternative Uses
Best Use
Multifamily LT 5
$683.5K
$598.0K – $797.4K
NOI $47,843 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$616.9K
$539.8K – $719.8K
NOI $43,186 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,689 @ 7.0% cap · market cap 15.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
801
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, a full bath, hardwood floors, and separate living and dining areas.
Where is this duplex located?
The property is located at 97-97a Ferry Lawrence, MA.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: Two units, each with three bedrooms and one full bath; 2,840 square feet of living space; 1,420‑square‑foot basement and walk‑up attic
