Wakefield Four-Family
For Sale
$1,000,000
Pending
43-45 Crescent St, Wakefield, MA 01880
Well-maintained four-family home in convenient Wakefield location.
Property Size3,780 SF
Days on Market154
Property Features for 43-45 Crescent St
General Information
Standard status
Pending
Size
3,780 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,833
Building Details
Building Size
3,780 SF
Year Built
1900
Stories
5
Units
4
Listed By:
Kristin Thompson
(508) 577-3237
Source:
Elliman
Added: Apr 24
Changed: Sep 9
Last Checked: Sep 22 at 7:08PM
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 Kristin Thompson
Investment Insights
Based on property information with market context.
This well-maintained duplex-style four-family home is situated in a convenient Wakefield location, close to downtown, shopping, dining, major routes, and the commuter rail. The property features a strong unit mix, including a spacious 3-bedroom townhouse-style unit, two 1-bedroom units, and one studio apartment. The units offer bright, functional layouts with hardwood and tile flooring, comfortable living areas, and good natural light. Select apartments include updated kitchens and baths. Newer windows are present in some units, along with enclosed porches. Heat and hot water are supplied in select units, with tenant-paid utilities in some apartments. Additional value is provided by off-street parking and basement storage. This property presents a solid opportunity for investors or owner-occupants seeking income potential and long-term value in an established Wakefield neighborhood. The location has a bike score of 55, making it bikeable, a walk score of 78, indicating it is very walkable, and a transit score of 30, suggesting some transit options are available.
Key Highlights
- Strong income potential as a four‑family home with a desirable unit mix.
- Convenient Wakefield location near downtown, shopping, dining, major routes, and commuter rail.
- Spacious 3‑bedroom townhouse‑style unit.
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
$79,986
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
8.00%
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%
$1,599,720
$1.6M
Cap Rate 7%
$1,142,657
$1.1M
Cap Rate 9%
$888,733
$888.7K
Market Conditions
NOI Build-Up for 3,780 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
$120.2K $31.80/SF
− Vacancy
−$5.9K −$1.57/SF
EGI
$114.3K $30.23/SF
− OpEx
−$34.3K −$9.07/SF
NOI
$80.0K $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%
$1,599,720
Cap Rate 7%
$1,142,657
Cap Rate 9%
$888,733
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$999.8K – $1.33M
NOI $79,986 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$1.07M
$940.1K – $1.25M
NOI $75,209 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,642 @ 7.0% cap · market cap 15.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,521
Businesses Nearby
Explore this area
Business Placement
Demographics for 01880, MA
27,071
Population
11,513
Households
2.4
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
3,658
Density / Sq Mi
$130,419
Median Household Income
$78,860
Median Earnings
$1,872
Median Rent
$670,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-family home in convenient Wakefield location.
Where is this quadplex located?
The property is located at 43-45 Crescent St Wakefield, MA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Strong income potential as a four‑family home with a desirable unit mix.; Convenient Wakefield location near downtown, shopping, dining, major routes, and commuter rail.; Spacious 3‑bedroom townhouse‑style unit.
