Lawrence Multi-Family Homes
Lawrence, located in Essex County, is 30 miles north-northwest of Boston.
Neighborhoods
- The Lawrence Street and Walnut Street neighborhoods, with a median real estate price of $431,102, are among the 46.7-percent highest-priced neighborhoods in the state and 17.7-percent highest-priced neighborhoods in the country. The average rental price, at $1,586, is higher-priced than 37.8-percent of neighborhoods statewide The majority of the housing units are studio to two-bedroom and three- and four-bedroom, small apartment buildings and townhomes. Most housing units are renter-occupied and were built before 1939 and between 1970 and 1999. There is a vacancy rate of 2.7-percent. The average commute time is between 15 and 30 minutes.
- The Prospect Street and East Haverhill Street neighborhoods, with a median real estate price of $356,960, is among the 59.6-percent highest-priced neighborhoods in the state and 24.7-percent highest-priced neighborhoods in the country. The average rental price, at $1,722, is higher-priced than 47.0-percent of neighborhoods statewide. The majority of the housing units are studio to two-bedroom and three- to four-bedroom, small apartment buildings, apartment complexes, and high-rise apartments. Most housing units are renter-occupied and were built before 1939 and between 1940 and 1969. There is a high vacancy rate of 8.3-percent. The average commute time is between 15 and 30 minutes.
- The Broadway and Park Street neighborhoods, with a median real estate price of $355,638, is among the 59.8-percent highest-priced neighborhoods in the state and 24.7-percent highest-priced neighborhoods in the country. The average rental price, at $1,706, is higher-priced than 46.0-percent of neighborhoods statewide. The majority of the housing units are studio to two-bedroom and three- to four-bedroom, small apartment buildings; apartment complexes; and high-rise apartments. Most housing units are renter-occupied and were built before 1939 between 1970 and 1999. There is a vacancy rate of 9.9-percent. The average commute time is 15 minutes.
- The Haverhill Street and Reservoir Street neighborhoods, with a median real estate price of $343,132, are among the 62.4-percent highest-priced neighborhoods in the state and 26.5-percent highest-priced neighborhoods in the country. The average rental price at $1,703 is higher-priced than 45.5-percent of neighborhoods statewide. The majority of the housing units are three- to four-bedroom, single-family homes and studio to two-bedroom small apartment buildings. Most housing units are a mixture of owner-occupied and renter-occupied. They were built before 1939 and between 1940 and 1999. There is a vacancy rate of 8.6-percent. The average commute time is between 15 and 30 minutes.
- The Park Street and Spruce Street neighborhoods, with a median real estate price of $325,944, is among the 66.1-percent highest-priced neighborhoods in the state and 66.1-percent highest-priced neighborhoods in the country. The average rental price, at $1,530, is higher-priced than 34.5-percent of neighborhoods statewide. The majority of the housing units are studio to two-bedroom and three- to four-bedroom, small apartment buildings; apartment complexes; and high-rise apartments. Most housing units are renter-occupied and were built before 1939 and between 1940 and 1969. There is a vacancy rate of 5.0-percent. The average commute time is between 15 and 30 minutes.
- The South Union Street and Winthrop Avenue neighborhoods, with a median real estate price of $325,802, are among the 33.8-percent highest-priced neighborhoods in the state and 33.8-percent highest-priced neighborhoods in the country. The average rental price, at $1,760, is higher-priced than 49.9-percent of neighborhoods statewide. The majority of the housing units are studio to two-bedroom and three- to four-bedroom, small apartment buildings; apartment complexes; and high-rise apartments. Most housing units are owner-occupied and were built before 1939 and between 1940 and 1969. There is a vacancy rate of 3.6-percent. The average commute time is 15 to 30 minutes.
- The Howard Street and East Haverhill Street neighborhoods, with a median real estate price of $312,131, are among the 69.1-percent highest-priced neighborhoods in the state and 30.7-percent highest-priced neighborhoods in the country. The average rental price, at $1,742, is higher-priced than 49.6-percent of neighborhoods statewide The majority of the housing units are three- to four-bedroom, single-family homes and studio to two-bedroom small apartment buildings. Most housing units are a mixture of owner-occupied and renter-occupied. They were built before 1939 and between 1940 and 1969. There is a vacancy rate of 4.4-percent. The average commute time is between 15 and 30 minutes.
- The South Broadway and Andover Street neighborhoods, with a median real estate price of $306,588, are among the 70.5-percent highest-priced neighborhoods in the state and 70.5-percent highest-priced neighborhoods in the country. The average rental price, at $1,565, is higher-priced than 36.2-percent of neighborhoods statewide. The majority of the housing units are studio to two-bedroom and three- to four-bedroom, small apartment buildings; apartment complexes; and high-rise apartments. Most housing units are renter-occupied and were built before 1939 and between 1970 and 1999. There is a vacancy rate of 6.8-percent. The average commute time is between 15 and 30 minutes.
- The South Side neighborhood, with a median real estate price of $302,294, is among the 71.3-percent highest-priced neighborhoods in the state and 71.3-percent highest-priced neighborhoods in the country. The average rental price, at $1,732, is higher-priced than 49.8-percent of neighborhoods statewide. The majority of the housing units are studio to two-bedroom and three- to four-bedroom, small apartment buildings; apartment complexes; and high-rise apartments. Most housing units are renter-occupied and were built before 1939 and between 1940 and 1969. There is a high vacancy rate of 12.6-percent. The average commute time is 15 minutes.
- The Lowell Street and Riverside Drive neighborhoods, with a median real estate price of $299,203, is among the 72.0-percent highest-priced neighborhoods in the state and 72.0-percent highest-priced neighborhoods in the country. The average rental price, at $1,661, is higher-priced than 42.0-percent of neighborhoods statewide. The majority of the housing units are three- to four-bedroom, single-family homes and studio to two-bedroom small apartment buildings. Most housing units are a mixture of owner-occupied and renter-occupied. They were built before 1939 and between 1940 and 1969. There is a vacancy rate of 3.1-percent. The average commute time is 15 to 30 minutes.
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This is a larger town with 80,209 residents who work in a mixture of white-collar and blue-collar jobs. With only 11.17-percent of the adults having a bachelor's degree or better, the per capita income, according to the 2010 census, was $17,059, and $36,754 was the median household income. The average commute for residents is 23 minutes. Residents use taxis, the Merrimack Valley Regional Transit Authority's bus service, and the MBTA commuter rail system.
Of the 25,759 housing units, 71.9-percent are renter-occupied with a median home value of $306,588 and a vacancy rate of 5.7-percent. Since 2000, real estate values have appreciated 82.17-percent for an annual average of 3.39-percent. Only 17.4-percent of the housing units in this city are single-family homes, the rest of the housing units include 7.5-percent townhomes, 46.4-percent small apartment buildings, 28.2-percent apartment complexes, and 0.4-percent mobile homes. At 54.7-percent, most of the housing units were built before 1939 with 22.2-precent built between 1940 and 1969, 19.2-percent built between 1960 and 1999, and 3.9-percent built since 2000. The average rent is $1,669.
This city has large amount of multi-family housing and a good occupancy rate. However, the income level for residents is low. Our agents know the area and can guide you to properties in this city that will provide a good occupancy rate and a good return on your investment or they can show you properties in other areas . Our large database will provide you with a list of properties on the market. Our agents can advise you of market trends, potential development, and zoning restrictions in the area. They can help you set your bid for the property you chose and guide you during negotiations with the seller. Hiring one of our agents protects your investment.
In this market with an income level issue, our agents can help you create a marketing plan for your property and set a price that reflects the market with room to negotiate. Our large database will provide access to more potential buyers. When you receive offers, our agent will be able to investigate the ability of potential buyers to close quickly. They can help you avoid buyers, who need to sell property before they can close. If their other property does not sell, they may default on the closing and cost you another potential buyer who may have bought other property. So let one of our agents help you sell your property quickly at a good price.
For help in this lower income market, contact us to buy or list a multi-family property in Lawrence.
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