Victorian Two-Family
New
For Sale
$1,499,000
1161 Franklin Street, Stoneham, MA 02180
Renovated residences combine period character, updated kitchens and baths, separate utilities, private outdoor areas, and flexible finished space.
Property Size4,643 SF
Price / SF$322.85
Days on Market5
Property Features for 1161 Franklin Street
General Information
Standard status
Active
Size
4,643 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
in-unit laundry
patio
fenced yard
grapevine-covered entertaining space
Building Details
Year Built
1910
Buildings
1
Construction
Victorian
Listing Agency:
Diamond Key Real Estate
Listed By:
Kerry Lapiana · License #9552234
(781) 205-9816
Source:
Wilsonwolfe
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 9:07AM
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 Diamond Key Real Estate
Investment Insights
Based on property information with market context.
Built in 1910, this 4,643-square-foot Victorian duplex contains two residences with a combined 13+ rooms, 6 bedrooms, and 3 full baths. The first-floor unit offers 5 rooms, 3 bedrooms, 2 full baths, a finished lower level with an additional full bath, a custom kitchen with quartz counters and smart-enabled appliances, in-unit laundry, and access to a rear patio. The second-floor residence includes 7 rooms, 3 bedrooms, and a finished third-floor retreat with 2 additional rooms, along with an open-concept living area, updated kitchen, dining space, and in-unit laundry.
The property includes separate gas and electric meters, dedicated water heaters, independent climate control, high-efficiency heating and cooling systems, and Brazilian Oak hardwood flooring. Exterior features include a detached 2-car garage, substantial off-street parking, a fenced yard, front lawn, mature landscaping, cottage-inspired gardens, and a grapevine-covered outdoor entertaining area. The home is located in Stoneham near the Melrose line.
The property includes separate gas and electric meters, dedicated water heaters, independent climate control, high-efficiency heating and cooling systems, and Brazilian Oak hardwood flooring. Exterior features include a detached 2-car garage, substantial off-street parking, a fenced yard, front lawn, mature landscaping, cottage-inspired gardens, and a grapevine-covered outdoor entertaining area. The home is located in Stoneham near the Melrose line.
Key Highlights
- 4,643‑square‑foot Victorian duplex built in 1910
- Two residences with 13+ rooms, 6 bedrooms, and 3 full baths
- First‑floor unit includes 5 rooms, 3 bedrooms, and 2 full baths
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
$98,248
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
6.55%
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%
$1,964,960
$2.0M
Cap Rate 7%
$1,403,543
$1.4M
Cap Rate 9%
$1,091,644
$1.1M
Market Conditions
NOI Build-Up for 4,643 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
$147.6K $31.80/SF
− Vacancy
−$7.3K −$1.57/SF
EGI
$140.4K $30.23/SF
− OpEx
−$42.1K −$9.07/SF
NOI
$98.2K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,964,960
Cap Rate 7%
$1,403,543
Cap Rate 9%
$1,091,644
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.23M – $1.64M
NOI $98,248 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,380 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,405 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 02180, MA
23,244
Population
9,832
Households
2.4
Avg Household Size
44
Median Age
54%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,874
Density / Sq Mi
$112,635
Median Household Income
$71,709
Median Earnings
$1,878
Median Rent
$629,000
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?
Duplex - Renovated residences combine period character, updated kitchens and baths, separate utilities, private outdoor areas, and flexible finished space.
Where is this duplex located?
The property is located at 1161 Franklin Street Stoneham, MA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: 4,643‑square‑foot Victorian duplex built in 1910; Two residences with 13+ rooms, 6 bedrooms, and 3 full baths; First‑floor unit includes 5 rooms, 3 bedrooms, and 2 full baths
