Triplex with Separate
New
For Sale
$869,900
286 Albion St, Wakefield, MA 01880
Three apartments offer independent utility service, with parking for multiple vehicles on the property.
Property Size2,636 SF
Price / SF$330.01
Days on Market5
Property Features for 286 Albion St
General Information
Standard status
Active
Size
2,636 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
GR
Net Operating Income
$23,400
Taxes and HOA fees
Annual Taxes
$9,931
Building Details
Building Size
2,636 SF
Year Built
1930
Stories
3
Listing Agency:
Barrett, Chris. J., REALTORS
Listed By:
Christopher M Barrett · License #9533397
(781) 248-5011
Source:
Insightrealtygroup
Added: Sep 29
Changed: Oct 3
Last Checked: Oct 2 at 4:55PM
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 Barrett, Chris. J., REALTORS
Investment Insights
Based on property information with market context.
This 1930-built triplex contains three four-room apartments across 2,636 square feet. The second- and third-floor units have fresh paint, and the second floor has new windows. Each apartment has separate utilities. Tenants pay for electricity and oil-fired FHA heat; the owner covers hot water and propane for gas stoves. Deleading documents are available for the first- and second-floor units.
The property sits on a level lot with two driveways and parking for six or more cars. It is near commuter rail service, a playground, and the town center. Zoning is GR.
The property sits on a level lot with two driveways and parking for six or more cars. It is near commuter rail service, a playground, and the town center. Zoning is GR.
Key Highlights
- Three four‑room apartments in a 2,636‑square‑foot triplex
- 1930 construction
- Separate utility services for each apartment
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
$55,779
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
6.41%
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%
$1,115,580
$1.1M
Cap Rate 7%
$796,843
$796.8K
Cap Rate 9%
$619,767
$619.8K
Market Conditions
NOI Build-Up for 2,636 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
$83.8K $31.80/SF
− Vacancy
−$4.1K −$1.57/SF
EGI
$79.7K $30.23/SF
− OpEx
−$23.9K −$9.07/SF
NOI
$55.8K $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%
$1,115,580
Cap Rate 7%
$796,843
Cap Rate 9%
$619,767
Alternative Uses
Best Use
Multifamily LT 5
$796.8K
$697.2K – $929.7K
NOI $55,779 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$749.3K
$655.6K – $874.1K
NOI $52,448 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,235 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
965
Businesses Nearby
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Business Placement
Demographics for 01880, MA
27,071
Population
11,513
Households
2.4
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
3,658
Density / Sq Mi
$130,419
Median Household Income
$78,860
Median Earnings
$1,872
Median Rent
$670,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments offer independent utility service, with parking for multiple vehicles on the property.
Where is this triplex located?
The property is located at 286 Albion St Wakefield, MA.
What is the asking price?
The asking price for this property is $869,900.
What are key features of this property?
This property features: Three four‑room apartments in a 2,636‑square‑foot triplex; 1930 construction; Separate utility services for each apartment
