Triplex with Private
New
For Sale
$799,900
251 Main St, Ashland, MA 01721
Three-family property with a flexible unit mix, sizable bedrooms, outdoor space, parking, and a spacious yard in Ashland.
Property Size1,998 SF
Price / SF$400.35
Days on Market5
Property Features for 251 Main St
General Information
Standard status
Active
Size
1,998 SF
Property subtype
3 Family
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Amenities
decks
yard
Building Details
Building Size
1,998 SF
Year Built
1964
Buildings
1
Listing Agency:
Mega Realty Services
(508) 768-5115
Listed By:
Matheus Goncalves · License #9569985
(508) 768-5115
Source:
Iverty
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 28 at 6:49AM
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 Mega Realty Services
Investment Insights
Based on property information with market context.
Built in 1964, this triplex contains two units currently configured with two bedrooms each and a third unit used as a one-bedroom residence. The bedrooms are described as generously sized, and two units include private decks that have been recently renovated and reinforced. The property also offers ample parking and a spacious yard, adding practical outdoor area to the residential improvements.
Located at 251 Main St in Ashland, the property provides a three-unit configuration suited to residential income use or an owner-occupant arrangement, as described in the listing information.
Located at 251 Main St in Ashland, the property provides a three-unit configuration suited to residential income use or an owner-occupant arrangement, as described in the listing information.
Key Highlights
- Three‑family property with two two‑bedroom units and one one‑bedroom unit
- Two private decks recently renovated and reinforced
- Generously sized bedrooms across the property
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
$42,278
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
5.29%
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%
$845,560
$845.6K
Cap Rate 7%
$603,971
$604.0K
Cap Rate 9%
$469,756
$469.8K
Market Conditions
NOI Build-Up for 1,998 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
$63.5K $31.80/SF
− Vacancy
−$3.1K −$1.57/SF
EGI
$60.4K $30.23/SF
− OpEx
−$18.1K −$9.07/SF
NOI
$42.3K $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%
$845,560
Cap Rate 7%
$603,971
Cap Rate 9%
$469,756
Alternative Uses
Best Use
Multifamily LT 5
$604.0K
$528.5K – $704.6K
NOI $42,278 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$567.9K
$496.9K – $662.6K
NOI $39,753 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,797 @ 7.0% cap · market cap 10.35%
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
577
Businesses Nearby
Explore this area
Business Placement
Demographics for 01721, MA
18,832
Population
7,995
Households
2.4
Avg Household Size
42
Median Age
59%
College-Educated
98%
High-School Grad
12.3 sq mi
ZIP Area
1,531
Density / Sq Mi
$127,106
Median Household Income
$71,797
Median Earnings
$2,334
Median Rent
$586,000
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-family property with a flexible unit mix, sizable bedrooms, outdoor space, parking, and a spacious yard in Ashland.
Where is this triplex located?
The property is located at 251 Main St Ashland, 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: Three‑family property with two two‑bedroom units and one one‑bedroom unit; Two private decks recently renovated and reinforced; Generously sized bedrooms across the property
