Fire-Damaged Duplex with
For Sale
$599,000
363 Concord St, Framingham, MA 01702
Two-unit residential property with separate entrances, utility systems, basement storage, and a fenced side yard.
Property Size2,244 SF
Days on Market104
Property Features for 363 Concord St
General Information
Standard status
Active
Size
2,244 SF
Property subtype
2 Family - 2 Units Up/Down
Property Condition
Severity
Major Repairs Needed
Evidence
Fire-damaged
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,057
Amenities
fenced yard
porch
basement storage
garage
Building Details
Building Size
2,244 SF
Year Built
1914
Buildings
1
Listing Agency:
Full Circle Realty LLC
Listed By:
Christopher Mehr
Source:
Rutledgeproperties
Added: May 19
Changed: Aug 29
Last Checked: May 28 at 7:46AM
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 Full Circle Realty LLC
Investment Insights
Based on property information with market context.
Built in 1914, this 2,244-square-foot duplex has fire damage and is offered in its existing condition. The property was previously configured as two 3-bedroom, 2-bath units, each with a separate entrance and utility systems. Existing improvements include basement storage, a garage with electric service, a porch, a fenced side yard, and 4+ off-street parking spaces.
The property is zoned for multifamily use, with potential for an additional unit subject to buyer verification and due diligence. Located near commuter rail, major routes, shopping, dining, and parks, the property is at 363 Concord Street in Framingham, Massachusetts. Cash or rehab financing may be required based on the property's condition.
The property is zoned for multifamily use, with potential for an additional unit subject to buyer verification and due diligence. Located near commuter rail, major routes, shopping, dining, and parks, the property is at 363 Concord Street in Framingham, Massachusetts. Cash or rehab financing may be required based on the property's condition.
Key Highlights
- 2,244‑square‑foot duplex built in 1914
- Previously configured as two 3‑bedroom, 2‑bath units
- Separate entrances, utility systems, and existing unit layouts
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
$47,484
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
7.93%
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%
$949,680
$949.7K
Cap Rate 7%
$678,343
$678.3K
Cap Rate 9%
$527,600
$527.6K
Market Conditions
NOI Build-Up for 2,244 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
$71.4K $31.80/SF
− Vacancy
−$3.5K −$1.57/SF
EGI
$67.8K $30.23/SF
− OpEx
−$20.4K −$9.07/SF
NOI
$47.5K $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%
$949,680
Cap Rate 7%
$678,343
Cap Rate 9%
$527,600
Alternative Uses
Best Use
Multifamily LT 5
$678.3K
$593.6K – $791.4K
NOI $47,484 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$637.8K
$558.1K – $744.1K
NOI $44,648 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,991 @ 7.0% cap · market cap 15.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,790
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with separate entrances, utility systems, basement storage, and a fenced side yard.
Where is this duplex located?
The property is located at 363 Concord St Framingham, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,244‑square‑foot duplex built in 1914; Previously configured as two 3‑bedroom, 2‑bath units; Separate entrances, utility systems, and existing unit layouts
