Three-Unit Residential Income
For Sale
$799,900
Pending
19 Hayes Street, Framingham, MA 01702
Three units across three levels with separate living and dining areas in select units, plus off-street parking and storage.
Property Size2,741 SF
Days on Market126
Property Features for 19 Hayes Street
General Information
Standard status
Pending
Size
2,741 SF
Property subtype
3 Family - 3 Units Up/Down
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Amenities
fenced yard
storage
Building Details
Year Built
1887
Stories
3
Listing Agency:
Lamacchia Realty, Inc.
(781) 786-8080
Listed By:
Adriana Scholz
(781) 983-7858
Source:
Lockandkeyre
Added: May 5
Changed: Aug 23
Last Checked: Aug 19 at 4:12AM
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 Lamacchia Realty, Inc.
Investment Insights
Based on property information with market context.
This three-family residential income property is arranged across three levels and includes one 3-bedroom unit alongside two additional units with functional layouts. Interiors feature a mix of hardwood and vinyl flooring, with spacious kitchens and separate living and dining areas in select units. The property also offers off-street parking for multiple vehicles, a fenced yard, and additional storage.
Located in Framingham, the home is near public transportation, shopping, restaurants, and commuter routes, supporting convenient day-to-day access for residents.
The existing configuration provides flexibility for an investor or an owner-occupant seeking additional income from the other units.
Located in Framingham, the home is near public transportation, shopping, restaurants, and commuter routes, supporting convenient day-to-day access for residents.
The existing configuration provides flexibility for an investor or an owner-occupant seeking additional income from the other units.
Key Highlights
- Year built: 1887
- Three units across three levels: includes one 3‑bedroom unit plus two additional units
- Some units feature separate living and dining areas
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
$58,001
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
7.25%
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%
$1,160,020
$1.2M
Cap Rate 7%
$828,586
$828.6K
Cap Rate 9%
$644,456
$644.5K
Market Conditions
NOI Build-Up for 2,741 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
$87.2K $31.80/SF
− Vacancy
−$4.3K −$1.57/SF
EGI
$82.9K $30.23/SF
− OpEx
−$24.9K −$9.07/SF
NOI
$58.0K $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%
$1,160,020
Cap Rate 7%
$828,586
Cap Rate 9%
$644,456
Alternative Uses
Best Use
Multifamily LT 5
$828.6K
$725.0K – $966.7K
NOI $58,001 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$779.1K
$681.7K – $909.0K
NOI $54,537 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,586 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,749
Businesses Nearby
Explore this area
Business Placement
Demographics for 01702, MA
39,515
Population
15,303
Households
2.6
Avg Household Size
35
Median Age
39%
College-Educated
83%
High-School Grad
8.2 sq mi
ZIP Area
4,819
Density / Sq Mi
$78,784
Median Household Income
$41,792
Median Earnings
$1,822
Median Rent
$563,600
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 units across three levels with separate living and dining areas in select units, plus off-street parking and storage.
Where is this triplex located?
The property is located at 19 Hayes Street Framingham, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Year built: 1887; Three units across three levels: includes one 3‑bedroom unit plus two additional units; Some units feature separate living and dining areas
