4-Unit Multifamily Property with
For Sale
$1,150,000
308 Hollis St, Framingham, MA 01702
Residential Income, Framingham, MA
Property Size3,089 SF
Lot Size0.23 Acres
Price / SF$372.29
Days on Market48
Property Features for 308 Hollis St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
M
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 2, Bedroom 3, Bedroom 7, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Parking
8
Elementary school
Barbieri
Middle school
Fuller
High school
Framingham
Directions
Hollis St is RT 126
Subdivision
Coburnville
Standard status
Active
APN
492258
Size
3,089 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11572
Amenities
off-street parking
Building Details
Year built
1867
Floors in Building
5
Number of units
4
Listing Agency:
REMAX Executive Realty · RE/MAX International
(508) 435-6700
Listed By:
Bill Wright · License #5503
(508) 435-6700
Added: Jul 13
Changed: Aug 19
Last Checked: Aug 29 at 12:06PM
MLS# 73548847
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4-unit multifamily property contains 3,089 square feet on a 0.23-acre lot. The unit mix includes one 3-bedroom residence, one 2-bedroom residence, and two 1-bedroom residences, totaling 7 bedrooms. Built in 1867, the property has vinyl siding, separate utilities for each unit, and off-street parking. The property is zoned M.
The Framingham property is near shopping, restaurants, public transportation, and major commuter routes. Its residential configuration supports a four-household rental setup, with unit sizes spanning one to three bedrooms.
The Framingham property is near shopping, restaurants, public transportation, and major commuter routes. Its residential configuration supports a four-household rental setup, with unit sizes spanning one to three bedrooms.
Key Highlights
- Four‑unit property with 7 total bedrooms
- Unit mix: one 3‑bedroom, one 2‑bedroom, and two 1‑bedroom units
- 3,089 square feet on a 0.23‑acre lot
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
$65,364
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
5.68%
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%
$1,307,280
$1.3M
Cap Rate 7%
$933,771
$933.8K
Cap Rate 9%
$726,267
$726.3K
Market Conditions
NOI Build-Up for 3,089 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
$98.2K $31.80/SF
− Vacancy
−$4.9K −$1.57/SF
EGI
$93.4K $30.23/SF
− OpEx
−$28.0K −$9.07/SF
NOI
$65.4K $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%
$1,307,280
Cap Rate 7%
$933,771
Cap Rate 9%
$726,267
Alternative Uses
Best Use
Multifamily LT 5
$933.8K
$817.1K – $1.09M
NOI $65,364 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$878.0K
$768.3K – $1.02M
NOI $61,461 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $128,007 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 01702, MA
39,515
Population
15,303
Households
2.6
Avg Household Size
35
Median Age
39%
College-Educated
83%
High-School Grad
8.2 sq mi
ZIP Area
4,819
Density / Sq Mi
$78,784
Median Household Income
$41,792
Median Earnings
$1,822
Median Rent
$563,600
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?
Quadplex - Four residential units offer separate utilities, vinyl siding, and off-street tenant parking.
Where is this quadplex located?
The property is located at 308 Hollis St Framingham, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Four‑unit property with 7 total bedrooms; Unit mix: one 3‑bedroom, one 2‑bedroom, and two 1‑bedroom units; 3,089 square feet on a 0.23‑acre lot
