Three-Unit Triplex with Attic
For Sale
$1,100,000
Pending
9 Carter Street, Everett, MA 02149
Separate utilities, a driveway, and fenced garden areas add practical property features.
Property Size3,926 SF
Days on Market525
Property Features for 9 Carter Street
General Information
Standard status
Pending
Size
3,926 SF
Total Parking Spaces
3
Property subtype
Multi-family / 3 Family
Zoning
DD
Net Operating Income
$54,000
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,862
Amenities
walk-up attic
offices
storage space
yard/garden area
No
Wood, Tile, Vinyl, Laminate, Hardwood
Range, Dishwasher, Refrigerator
3.0
Full
Storage, Bathroom With Tub & Shower, Ceiling Fan(s), Floored Attic, Walk-Up Attic, Living Room, Kitchen
3
3.00
Fenced/Enclosed, Fenced
Shingle
Garden, Fenced Yard, Garden Area, Porch
Porch
Building Details
Year Built
1888
Buildings
1
Listing Agency:
J. R. Pierre Real Estate
Listed By:
Rivard Pierre · License #9031521
(617) 625-1193
Source:
Compass
Added: Mar 27, 2025
Changed: Sep 2
Last Checked: Aug 31 at 10:21PM
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 J. R. Pierre Real Estate
Investment Insights
Based on property information with market context.
This three-family property contains 3,926 square feet and dates to 1888. The building includes multiple rooms, office and storage areas, and additional finished space within a walk-up attic. Interior features include wood, tile, vinyl, laminate, and hardwood flooring, along with a range, dishwasher, and refrigerator. A porch, fenced yard, and garden area complement the building, while the driveway provides on-site access. Separate utilities serve the property.
The property is located at 9 Carter Street in Everett, Massachusetts, within a two-minute walk of Main Street bus service on routes #99, #105, and #106. Wellington Station on the T is accessible, as are I-93, I-90, and Routes 16 and 28. Encore is an 18-minute walk away, and Assembly Row is nearby for shopping and restaurants. The property is zoned DD and is offered as-is through a Commissioner’s sale subject to Massachusetts Land Court review and approval.
The property is located at 9 Carter Street in Everett, Massachusetts, within a two-minute walk of Main Street bus service on routes #99, #105, and #106. Wellington Station on the T is accessible, as are I-93, I-90, and Routes 16 and 28. Encore is an 18-minute walk away, and Assembly Row is nearby for shopping and restaurants. The property is zoned DD and is offered as-is through a Commissioner’s sale subject to Massachusetts Land Court review and approval.
Key Highlights
- Three‑family property containing 3,926 square feet
- Walk‑up attic with additional space, plus office and storage areas
- Separate utilities serve the property
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
$83,076
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
7.55%
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%
$1,661,520
$1.7M
Cap Rate 7%
$1,186,800
$1.2M
Cap Rate 9%
$923,067
$923.1K
Market Conditions
NOI Build-Up for 3,926 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
$124.8K $31.80/SF
− Vacancy
−$6.2K −$1.57/SF
EGI
$118.7K $30.23/SF
− OpEx
−$35.6K −$9.07/SF
NOI
$83.1K $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%
$1,661,520
Cap Rate 7%
$1,186,800
Cap Rate 9%
$923,067
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.38M
NOI $83,076 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$1.12M
$976.4K – $1.30M
NOI $78,114 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,692 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,602
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?
Triplex - Separate utilities, a driveway, and fenced garden areas add practical property features.
Where is this triplex located?
The property is located at 9 Carter Street Everett, 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: Three‑family property containing 3,926 square feet; Walk‑up attic with additional space, plus office and storage areas; Separate utilities serve the property
