Two-Family Duplex with Fenced
For Sale
$889,900
28 Ferry St, Everett, MA 02149
Two residential units feature varied layouts, mini-split heating and cooling, and outdoor space within a commuter-accessible setting.
Property Size3,003 SF
Price / SF$296.34
Days on Market25
Property Features for 28 Ferry St
General Information
Standard status
Active
Size
3,003 SF
Property subtype
Multi Family
Building Details
Building Size
3,003 SF
Year Built
1920
Listing Agency:
IVerty Realty, LLC
(413) 786-0584
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 29 at 3:17PM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1920, this 3,003-square-foot duplex contains two residential units with distinct layouts. The first-floor residence includes 2 bedrooms, a living area, full bath, and eat-in kitchen. The second unit extends across two levels and offers 4 bedrooms, a living room, dining area, newer kitchen, and additional eat-in kitchen space. Energy-efficient mini-split systems provide heating and air conditioning, while the fully fenced backyard adds usable outdoor area.
Located at 28 Ferry St in Everett, the property is minutes from Boston and provides access to public transportation, major highways, shopping, restaurants, schools, and parks. The combination of unit variety, substantial interior space, and a private fenced yard supports both residential occupancy and income-property use.
Located at 28 Ferry St in Everett, the property is minutes from Boston and provides access to public transportation, major highways, shopping, restaurants, schools, and parks. The combination of unit variety, substantial interior space, and a private fenced yard supports both residential occupancy and income-property use.
Key Highlights
- 3,003‑square‑foot duplex built in 1920
- Two residential units with distinct floor plans
- First‑floor unit includes 2 bedrooms and an eat‑in kitchen
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
$63,545
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
7.14%
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%
$1,270,900
$1.3M
Cap Rate 7%
$907,786
$907.8K
Cap Rate 9%
$706,056
$706.1K
Market Conditions
NOI Build-Up for 3,003 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
$95.5K $31.80/SF
− Vacancy
−$4.7K −$1.57/SF
EGI
$90.8K $30.23/SF
− OpEx
−$27.2K −$9.07/SF
NOI
$63.5K $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%
$1,270,900
Cap Rate 7%
$907,786
Cap Rate 9%
$706,056
Alternative Uses
Best Use
Multifamily LT 5
$907.8K
$794.3K – $1.06M
NOI $63,545 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$853.6K
$746.9K – $995.8K
NOI $59,750 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$1.78M
$1.56M – $2.07M
NOI $124,444 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,942
Businesses Nearby
Explore this area
Business Placement
Demographics for 02149, MA
49,075
Population
18,541
Households
2.6
Avg Household Size
35
Median Age
23%
College-Educated
80%
High-School Grad
3.4 sq mi
ZIP Area
14,434
Density / Sq Mi
$79,658
Median Household Income
$40,836
Median Earnings
$1,988
Median Rent
$605,200
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 residential units feature varied layouts, mini-split heating and cooling, and outdoor space within a commuter-accessible setting.
Where is this duplex located?
The property is located at 28 Ferry St Everett, MA.
What is the asking price?
The asking price for this property is $889,900.
What are key features of this property?
This property features: 3,003‑square‑foot duplex built in 1920; Two residential units with distinct floor plans; First‑floor unit includes 2 bedrooms and an eat‑in kitchen
