Duplex Investment Package with Roof
For Sale
$3,100,000
213-215 Burrill St, Swampscott, MA 01907
Two-family dwelling plus a 7-unit building with a shared roof deck and in-unit laundry.
Property Size8,900 SF
Price / SF$348.31
Days on Market50
Property Features for 213-215 Burrill St
General Information
Standard status
Active
Size
8,900 SF
Property subtype
5-9 Family
Additional Details
Gross Income
$246,000
Multifamily Units
9
Amenities
in-unit laundry
central air conditioning
granite countertops
hardwood floors
shared roof deck
Building Details
Building Size
8,900 SF
Year Built
1895
Buildings
2
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Jul 28
Changed: Sep 14
Last Checked: Sep 15 at 6:23AM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
213-215 Burrill St is being offered as a single investment package that combines a two-family dwelling with a separate 7-unit building. The 213 Burrill St property is configured as a two-family home with 7 bedrooms and 2 bathrooms. The 215 Burrill St building contains seven units, including two 3-bedroom units, four 2-bedroom units, and one 1-bedroom unit.
Across both buildings, units are equipped with in-unit laundry and central air conditioning, with granite countertops and hardwood floors. Residents also have access to a shared roof deck.
The property was built in 1895. BikeScore is 42 (somewhat bikeable), WalkScore is 65 (somewhat walkable), and TransitScore is 38 (some transit).
Across both buildings, units are equipped with in-unit laundry and central air conditioning, with granite countertops and hardwood floors. Residents also have access to a shared roof deck.
The property was built in 1895. BikeScore is 42 (somewhat bikeable), WalkScore is 65 (somewhat walkable), and TransitScore is 38 (some transit).
Key Highlights
- 213 Burrill St is a two‑family dwelling with 7 bedrooms and 2 bathrooms
- 215 Burrill St is a 7‑unit building with two 3‑bedroom, four 2‑bedroom, and one 1‑bedroom unit
- In‑unit laundry and central air conditioning in the 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
$149,931
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
4.84%
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%
$2,998,620
$3.0M
Cap Rate 7%
$2,141,871
$2.1M
Cap Rate 9%
$1,665,900
$1.7M
Market Conditions
NOI Build-Up for 8,900 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
$224.3K $25.20/SF
− Vacancy
−$10.1K −$1.13/SF
EGI
$214.2K $24.07/SF
− OpEx
−$64.3K −$7.22/SF
NOI
$149.9K $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%
$2,998,620
Cap Rate 7%
$2,141,871
Cap Rate 9%
$1,665,900
Alternative Uses
Best Use
Multifamily LT 5
$2.14M
$1.87M – $2.50M
NOI $149,931 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$1.93M
$1.69M – $2.26M
NOI $135,337 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$5.27M
$4.61M – $6.15M
NOI $368,814 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
936
Businesses Nearby
Explore this area
Business Placement
Demographics for 01907, MA
15,148
Population
6,666
Households
2.3
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
3.0 sq mi
ZIP Area
5,049
Density / Sq Mi
$127,714
Median Household Income
$70,837
Median Earnings
$2,206
Median Rent
$690,800
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?
Duplex - Two-family dwelling plus a 7-unit building with a shared roof deck and in-unit laundry.
Where is this duplex located?
The property is located at 213-215 Burrill St Swampscott, MA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 213 Burrill St is a two‑family dwelling with 7 bedrooms and 2 bathrooms; 215 Burrill St is a 7‑unit building with two 3‑bedroom, four 2‑bedroom, and one 1‑bedroom unit; In‑unit laundry and central air conditioning in the units
