Triplex with Private
For Sale
$1,100,000
104-106 Burrill Street, Swampscott, MA 01907
Three-unit residential property with separate utilities, basement laundry, storage, and off-street parking.
Property Size3,036 SF
Price / SF$362.32
Days on Market113
Property Features for 104-106 Burrill Street
General Information
Standard status
Active
Size
3,036 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
A4
Net Operating Income
$76,776
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,697
Amenities
basement laundry
private porches
Building Details
Building Size
3,036 SF
Year Built
1920
Stories
3
Listing Agency:
REMAX Executive Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 11
Changed: Aug 31
Last Checked: Aug 31 at 1:32PM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This 3,036-square-foot triplex, built in 1920, contains two two-bedroom apartments and a one-bedroom third-floor residence. The first- and second-floor units provide living and dining areas, full bathrooms, and private porches. One includes hardwood flooring and a renovated kitchen with shaker cabinetry and granite counters. The upper unit features a large kitchen, separate dining area, living room, and wardrobe room. High ceilings extend throughout the building, while newer appliances serve all three units.
Separate utilities, basement laundry, and dedicated storage support the three residences. The property also includes paved driveways with five off-street parking spaces and is zoned A4. Its Swampscott setting places the building near commuter rail service, beaches, the library, shopping, restaurants, and local schools, including a newly built elementary school.
Separate utilities, basement laundry, and dedicated storage support the three residences. The property also includes paved driveways with five off-street parking spaces and is zoned A4. Its Swampscott setting places the building near commuter rail service, beaches, the library, shopping, restaurants, and local schools, including a newly built elementary school.
Key Highlights
- 3,036 SF triplex with two 2‑bedroom units and one 1‑bedroom unit
- Built in 1920 with high ceilings throughout all 3 units
- Private porches for Units 1 & 2
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
$51,145
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
4.65%
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%
$1,022,900
$1.0M
Cap Rate 7%
$730,643
$730.6K
Cap Rate 9%
$568,278
$568.3K
Market Conditions
NOI Build-Up for 3,036 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
$76.5K $25.20/SF
− Vacancy
−$3.4K −$1.13/SF
EGI
$73.1K $24.07/SF
− OpEx
−$21.9K −$7.22/SF
NOI
$51.1K $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%
$1,022,900
Cap Rate 7%
$730,643
Cap Rate 9%
$568,278
Alternative Uses
Best Use
Multifamily LT 5
$730.6K
$639.3K – $852.4K
NOI $51,145 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$659.5K
$577.1K – $769.5K
NOI $46,167 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,811 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 01907, MA
15,148
Population
6,666
Households
2.3
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
3.0 sq mi
ZIP Area
5,049
Density / Sq Mi
$127,714
Median Household Income
$70,837
Median Earnings
$2,206
Median Rent
$690,800
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-unit residential property with separate utilities, basement laundry, storage, and off-street parking.
Where is this triplex located?
The property is located at 104-106 Burrill Street Swampscott, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,036 SF triplex with two 2‑bedroom units and one 1‑bedroom unit; Built in 1920 with high ceilings throughout all 3 units; Private porches for Units 1 & 2
