Fenced Multifamily
For Sale
$1,359,921
121 Cottage Street, Everett, MA 02149
Residential zoning, off-street parking, and a walk-out basement complement this Everett property.
Property Size3,747 SF
Price / SF$362.94
Days on Market169
Property Features for 121 Cottage Street
General Information
Standard status
Active
Size
3,747 SF
Total Parking Spaces
10
Property subtype
Residential Income
Zoning
Res
Taxes and HOA fees
Annual Taxes
$12,142
Amenities
Park
Natural Gas, Forced Air
Full, Walk-Out Access, Interior Entry, Concrete
Range, Dishwasher, Disposal, Microwave, Refrigerator, Gas Water Heater
Walk-In Closet(s)
City
Fenced
Paved, Off Street, Common, Driveway
Building Details
Building Size
3,747 SF
Year Built
1900
Stories
3
Listed By:
Gustavo Veloz
(781) 910-8826
Source:
Evrealestate
Added: Mar 18
Changed: Aug 30
Last Checked: Aug 31 at 2:51PM
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 Gustavo Veloz
Investment Insights
Based on property information with market context.
This multifamily property at 121 Cottage Street features a full concrete basement with walk-out access and interior entry. The building includes natural gas, forced-air heating, a gas water heater, and a kitchen equipped with a range, dishwasher, disposal, and microwave. A walk-in closet is also included among the interior features.
The property has a fenced exterior with paved off-street parking, common parking areas, and a driveway. It is located in Everett, Middlesex County, with access from Broadway via Cottage Street or from Ferry Street via Cottage Street. Built in 1900, the property carries Res zoning and has a listed property size of 3,747.
The property has a fenced exterior with paved off-street parking, common parking areas, and a driveway. It is located in Everett, Middlesex County, with access from Broadway via Cottage Street or from Ferry Street via Cottage Street. Built in 1900, the property carries Res zoning and has a listed property size of 3,747.
Key Highlights
- Multifamily property with Res zoning
- Full concrete basement with walk‑out access and interior entry
- Natural gas and forced‑air heating with a gas water heater
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
$74,553
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
5.48%
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%
$1,491,060
$1.5M
Cap Rate 7%
$1,065,043
$1.1M
Cap Rate 9%
$828,367
$828.4K
Market Conditions
NOI Build-Up for 3,747 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
$143.0K $38.16/SF
− Vacancy
−$7.4K −$1.98/SF
EGI
$135.6K $36.18/SF
− OpEx
−$61.0K −$16.28/SF
NOI
$74.6K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
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%
$1,491,060
Cap Rate 7%
$1,065,043
Cap Rate 9%
$828,367
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$931.9K – $1.24M
NOI $74,553 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,275 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,955
Businesses Nearby
Explore this area
Business Placement
Demographics for 02149, MA
49,075
Population
18,541
Households
2.6
Avg Household Size
35
Median Age
23%
College-Educated
80%
High-School Grad
3.4 sq mi
ZIP Area
14,434
Density / Sq Mi
$79,658
Median Household Income
$40,836
Median Earnings
$1,988
Median Rent
$605,200
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?
Multifamily property - Residential zoning, off-street parking, and a walk-out basement complement this Everett property.
Where is this multifamily property located?
The property is located at 121 Cottage Street Everett, MA.
What is the asking price?
The asking price for this property is $1,359,921.
What are key features of this property?
This property features: Multifamily property with Res zoning; Full concrete basement with walk‑out access and interior entry; Natural gas and forced‑air heating with a gas water heater
