Historic Triplex with Original
For Sale
$1,175,000
16 Quincy St, Methuen, MA 01844
Three-residence property with separate utilities, private decks, and updated building systems.
Property Size5,386 SF
Price / SF$218.16
Days on Market157
Property Features for 16 Quincy St
General Information
Standard status
Active
Size
5,386 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
RC
Net Operating Income
$57,633
Taxes and HOA fees
Annual Taxes
$10,266
Building Details
Building Size
5,386 SF
Year Built
1915
Stories
4
Listing Agency:
eXp Realty LLC - Corporate Office
(888) 854-7493
Listed By:
Kris Peters
(978) 606-3570
Source:
Churchillprop
Added: May 12
Changed: Oct 6
Last Checked: Oct 14 at 8:22PM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
Built in 1915, this 5,386-square-foot triplex combines historic architectural details with substantial system improvements. The primary residence includes generous living areas, original woodwork, detailed millwork, pocket doors, and multiple fireplaces. Two additional units add separate living spaces and individual utilities, creating a flexible three-residence configuration.
Recent work includes plumbing updates, modern heating systems, and on-demand hot water. Exterior features include private deck areas and landscaped grounds. The property is located at 16 Quincy St in Methuen, Massachusetts, and carries RC zoning.
Recent work includes plumbing updates, modern heating systems, and on-demand hot water. Exterior features include private deck areas and landscaped grounds. The property is located at 16 Quincy St in Methuen, Massachusetts, and carries RC zoning.
Key Highlights
- 5,386 SF triplex built in 1915
- Main residence plus 2 additional units
- Original woodwork, millwork, pocket doors, and multiple fireplaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,734
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,814,680
$1.8M
Cap Rate 7%
$1,296,200
$1.3M
Cap Rate 9%
$1,008,156
$1.0M
Market Conditions
NOI Build-Up for 5,386 SF
Gross rent
$135.7K $25.20/SF
− Vacancy
−$6.1K −$1.13/SF
EGI
$129.6K $24.07/SF
− OpEx
−$38.9K −$7.22/SF
NOI
$90.7K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,814,680
Cap Rate 7%
$1,296,200
Cap Rate 9%
$1,008,156
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.13M – $1.51M
NOI $90,734 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.37M
NOI $81,902 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$3.19M
$2.79M – $3.72M
NOI $223,194 @ 7.0% cap · market cap 19.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Explore this area
Business Placement
Demographics for 01844, MA
52,970
Population
19,496
Households
2.7
Avg Household Size
42
Median Age
30%
College-Educated
89%
High-School Grad
22.1 sq mi
ZIP Area
2,397
Density / Sq Mi
$103,292
Median Household Income
$52,176
Median Earnings
$1,610
Median Rent
$471,900
Median Home Value
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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?
Triplex - Three-residence property with separate utilities, private decks, and updated building systems.
Where is this triplex located?
The property is located at 16 Quincy St Methuen, MA.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 5,386 SF triplex built in 1915; Main residence plus 2 additional units; Original woodwork, millwork, pocket doors, and multiple fireplaces
