Multifamily Cape-Style
For Sale
$519,900
Pending
28 Chapel St, Shirley, MA 01464
Well-maintained Cape-style multifamily with a sunroom, private deck, and a separate building that may support in-law use.
Property Size2,385 SF
Lot Size0.29 Acres
Days on Market189
Property Features for 28 Chapel St
General Information
Standard status
Pending
Size
2,385 SF
Total Parking Spaces
5
Lot size
0.29 Acres
Property subtype
Multi-Family
Zoning
R3
Building Details
Building Size
2,385 SF
Year Built
1910
Stories
3
Listing Agency:
LAER Realty Partners
Listed By:
Michele Mathieu · License #9036915
(617) 304-2770
Source:
Cjbarrett
Added: Apr 24
Changed: Oct 25
Last Checked: Jul 22 at 4:37PM
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 LAER Realty Partners
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Investment Insights
Based on property information with market context.
This well-maintained Cape-style multifamily home offers 5 bedrooms and 3 bathrooms. The spacious first floor includes a bright sunroom with access to a private outdoor deck. A separate building on the lot may be used as an in-law apartment. The layout provides flexibility, including the possibility of converting the multifamily back to single-family living with town approval.
The property is located in Shirley, Massachusetts, and is described as being about two minutes from the MBTA commuter rail station, offering convenient access to commuting while maintaining a neighborhood setting.
Set on a 0.29-acre lot, the home is presented as a versatile residence with options for multi-generational living or rental use.
The property is located in Shirley, Massachusetts, and is described as being about two minutes from the MBTA commuter rail station, offering convenient access to commuting while maintaining a neighborhood setting.
Set on a 0.29-acre lot, the home is presented as a versatile residence with options for multi-generational living or rental use.
Key Highlights
- Well‑maintained multifamily Cape built in 1910
- 5 bedrooms and 3 bathrooms on a 0.29‑acre lot
- Sunroom on the first floor with access to a private outdoor deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,453
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$949,060
$949.1K
Cap Rate 7%
$677,900
$677.9K
Cap Rate 9%
$527,256
$527.3K
Market Conditions
NOI Build-Up for 2,385 SF
Gross rent
$91.0K $38.16/SF
− Vacancy
−$4.7K −$1.98/SF
EGI
$86.3K $36.18/SF
− OpEx
−$38.8K −$16.28/SF
NOI
$47.5K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$949,060
Cap Rate 7%
$677,900
Cap Rate 9%
$527,256
Alternative Uses
Best Use
Apartment 5plus
$677.9K
$593.2K – $790.9K
NOI $47,453 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,834 @ 7.0% cap · market cap 19.01%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
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Business Placement
Demographics for 01464, MA
7,427
Population
2,512
Households
3
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
15.1 sq mi
ZIP Area
492
Density / Sq Mi
$121,875
Median Household Income
$73,721
Median Earnings
$1,189
Median Rent
$412,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Well-maintained Cape-style multifamily with a sunroom, private deck, and a separate building that may support in-law use.
Where is this multifamily property located?
The property is located at 28 Chapel St Shirley, MA.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Well‑maintained multifamily Cape built in 1910; 5 bedrooms and 3 bathrooms on a 0.29‑acre lot; Sunroom on the first floor with access to a private outdoor deck
