Updated 4-Unit Multifamily
For Sale
$1,125,000
39-41 Bridges Street, Framingham, MA 01702
Unit mix includes two one-bedroom residences and two townhouse-style homes with separate gas and electric service.
Property Size2,987 SF
Price / SF$376.63
Days on Market35
Property Features for 39-41 Bridges Street
General Information
Standard status
Active
Size
2,987 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 1BR, 2 x 3BR/2BA
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Amenities
porch
fenced backyard
Building Details
Year Built
1887
Listing Agency:
Ford Properties
Listed By:
Dennis B. Ford
(617) 680-0690
Source:
Inrealtyinc
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 4 at 2:46AM
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 Ford Properties
Investment Insights
Based on property information with market context.
This 4-unit multifamily property at 39-41 Bridges Street in Framingham includes 2,987 square feet of living area and was built in 1887. The configuration combines two 1-bedroom units with two townhouse-style units offering 3 bedrooms and 2 baths each. Unit 41 #1 has undergone a complete gut renovation and is positioned for immediate occupancy. The property also includes gas heat and tenant-at-will occupancy across the units.
Exterior features include vinyl siding, a porch, gutters, and a large fenced backyard. The property is located in Framingham’s Coburnville neighborhood. Separate gas and electric service for each unit supports distinct utility arrangements, while the four-unit layout provides a range of unit sizes within one multifamily asset.
Exterior features include vinyl siding, a porch, gutters, and a large fenced backyard. The property is located in Framingham’s Coburnville neighborhood. Separate gas and electric service for each unit supports distinct utility arrangements, while the four-unit layout provides a range of unit sizes within one multifamily asset.
Key Highlights
- Four‑unit multifamily property with 2,987 square feet of living area
- Unit mix includes two 1‑bedroom units and two 3‑bedroom/2‑bath townhouse‑style units
- Unit 41 #1 has been completely gut‑renovated
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
$63,206
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
5.62%
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%
$1,264,120
$1.3M
Cap Rate 7%
$902,943
$902.9K
Cap Rate 9%
$702,289
$702.3K
Market Conditions
NOI Build-Up for 2,987 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
$95.0K $31.80/SF
− Vacancy
−$4.7K −$1.57/SF
EGI
$90.3K $30.23/SF
− OpEx
−$27.1K −$9.07/SF
NOI
$63.2K $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%
$1,264,120
Cap Rate 7%
$902,943
Cap Rate 9%
$702,289
Alternative Uses
Best Use
Multifamily LT 5
$902.9K
$790.1K – $1.05M
NOI $63,206 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$849.0K
$742.9K – $990.5K
NOI $59,431 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,781 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,279
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 - Unit mix includes two one-bedroom residences and two townhouse-style homes with separate gas and electric service.
Where is this quadplex located?
The property is located at 39-41 Bridges Street Framingham, MA.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 2,987 square feet of living area; Unit mix includes two 1‑bedroom units and two 3‑bedroom/2‑bath townhouse‑style units; Unit 41 #1 has been completely gut‑renovated
