Investment Analysis — 33 Garfield St

Lawrence, MA 01843

Based on HUD Small Area Fair Market Rent for Lawrence, MA-NH HUD Metro FMR Area, a 3-bedroom in 01843 carries an estimated $2,870/mo in gross rent — about a 3.43% cap rate and $20,603/yr in estimated NOI at the $599,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

2.5

SqFt

3,208

Style

Single Family

Built

2010

Built in 2010, 33 Garfield Street is currently configured as a 3-bedroom, 2-bath Single Family with 2 extra rooms in the lower level and generous off-street parking and an oversized garage with a height near 18 feet that may accommodate vehicle storage, workshop space, hobbies or other personal use. The property is in an R2 zoning district, where Single Family use is allowed as a matter or right, and zoning approval has also been obtained for conversion to a two-family dwelling, giving buyers two potential paths to evaluate. The second unit has not been build and any conversion remains subject to approved plans, permits, construction, inspections, utilities and final occupancy authorization. This may be a renovation-financing opportunity for a qualified owner-occupant; ask your lender about FHA 203(k) financing with as little as 3.5% down or HomeStyle Renovation financing with as little as 5% down. Buyers intending continued Single Family use, the seller may consider reasonable pre-closing requests concerning that use before closing.

ADU Potential

Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 900 sq ft (the lesser of 900 sq ft or half the 3,208 sq ft principal dwelling). Lot size: 5,244 sq ft.

Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.

Estimates — not financial advice

These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.