Historic Triplex with Original
For Sale
$1,249,000
16 Quincy St, Methuen, MA 01844
Three-residence property with separate utilities, private decks, and updated building systems.
Property Size5,386 SF
Price / SF$231.90
Days on Market112
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
$27,659
Taxes and HOA fees
Annual Taxes
$10,266
Building Details
Building Size
5,386 SF
Year Built
1915
Stories
4
Listing Agency:
Coldwell Banker Realty - Franklin
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 12
Changed: Aug 30
Last Checked: Aug 30 at 4:17PM
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 Coldwell Banker Realty - Franklin
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 = 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
$90,734
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
7.26%
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%
$1,814,680
$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
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
$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 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%
$1,814,680
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 7.26%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.37M
NOI $81,902 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$3.19M
$2.79M – $3.72M
NOI $223,194 @ 7.0% cap · market cap 17.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 $1,249,000.
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
