Rebuilt Three-Unit Residential
For Sale
$1,259,000
Pending
15 Porter St, Everett, MA 02149
Three fully rebuilt units feature new kitchens, granite baths, hardwood flooring, and updated HVAC, with two units currently rented.
Property Size3,104 SF
Days on Market129
Property Features for 15 Porter St
General Information
Standard status
Pending
Size
3,104 SF
Property subtype
3 Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
Benny's Realty Group
(617) 817-1024
Listed By:
Andrea Aro
(857) 236-9159
Source:
Lockandkeyre
Added: Apr 30
Changed: Aug 23
Last Checked: Aug 22 at 7:44AM
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 Benny's Realty Group
Investment Insights
Based on property information with market context.
This completely rebuilt three-unit property offers three separate residences with modern finishes throughout. Each unit includes a brand-new kitchen with quartz countertops, new appliances, new bathrooms with granite surfaces, and new hardwood flooring. Major systems and exterior components have also been refreshed, including a new HVAC system, a new furnace, and mostly new windows. The units are in excellent, like-new condition.
The property is located at 15 Porter St in Everett, MA 02149. Two of the units (2nd and 3rd floors) are currently rented on a tenant-at-will basis, while the 1st floor is vacant.
For convenience, the area scores include a BikeScore of 64 (bikeable), a WalkScore of 93 (walker’s paradise), and a TransitScore of 61 (good transit).
The property is located at 15 Porter St in Everett, MA 02149. Two of the units (2nd and 3rd floors) are currently rented on a tenant-at-will basis, while the 1st floor is vacant.
For convenience, the area scores include a BikeScore of 64 (bikeable), a WalkScore of 93 (walker’s paradise), and a TransitScore of 61 (good transit).
Key Highlights
- Three fully rebuilt units (built in 1900) with modern finishes throughout
- Each unit includes a brand‑new kitchen with quartz countertops and new appliances
- Completely new bathrooms with granite and new hardwood flooring in all units
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
$65,682
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
5.22%
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%
$1,313,640
$1.3M
Cap Rate 7%
$938,314
$938.3K
Cap Rate 9%
$729,800
$729.8K
Market Conditions
NOI Build-Up for 3,104 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
$98.7K $31.80/SF
− Vacancy
−$4.9K −$1.57/SF
EGI
$93.8K $30.23/SF
− OpEx
−$28.1K −$9.07/SF
NOI
$65.7K $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%
$1,313,640
Cap Rate 7%
$938,314
Cap Rate 9%
$729,800
Alternative Uses
Best Use
Multifamily LT 5
$938.3K
$821.0K – $1.09M
NOI $65,682 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$882.3K
$772.0K – $1.03M
NOI $61,759 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,629 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
960
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 - Three fully rebuilt units feature new kitchens, granite baths, hardwood flooring, and updated HVAC, with two units currently rented.
Where is this triplex located?
The property is located at 15 Porter St Everett, MA.
What is the asking price?
The asking price for this property is $1,259,000.
What are key features of this property?
This property features: Three fully rebuilt units (built in 1900) with modern finishes throughout; Each unit includes a brand‑new kitchen with quartz countertops and new appliances; Completely new bathrooms with granite and new hardwood flooring in all units
