Two-Unit Corner-Lot
For Sale
$599,900
4 Wiley Place, Wakefield, MA 01880
Two residential units offer distinct layouts, in-unit laundry, third-floor storage, and outdoor space on a corner lot.
Property Size1,878 SF
Price / SF$319.44
Days on Market111
Property Features for 4 Wiley Place
General Information
Standard status
Active
Size
1,878 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
in-unit laundry
additional storage
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Colonial Manor Realty
(781) 290-7425
Listed By:
Rick Nazzaro · License #448500586
(781) 290-7425
Source:
Colonialmanorrealty
Added: May 12
Changed: Aug 29
Last Checked: Aug 29 at 4:30PM
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 Colonial Manor Realty
Investment Insights
Based on property information with market context.
This 1,878-square-foot duplex, built in 1900, contains two separate residential units. The first-floor apartment has two bedrooms, a step-down living room, and abundant natural light. The second unit includes one bedroom, in-unit laundry, generous living space, and storage on the third floor.
Set on a corner lot, the property provides outdoor space for gardening or entertaining. The home is located a short distance from downtown Wakefield amenities, including Lake Quannapowitt, restaurants, shopping, and public transportation.
Set on a corner lot, the property provides outdoor space for gardening or entertaining. The home is located a short distance from downtown Wakefield amenities, including Lake Quannapowitt, restaurants, shopping, and public transportation.
Key Highlights
- Two‑unit duplex with 1,878 square feet of living area
- Built in 1900 and positioned on a corner lot
- First‑floor unit includes 2 bedrooms and a step‑down living room
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
$39,739
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
6.62%
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%
$794,780
$794.8K
Cap Rate 7%
$567,700
$567.7K
Cap Rate 9%
$441,544
$441.5K
Market Conditions
NOI Build-Up for 1,878 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
$59.7K $31.80/SF
− Vacancy
−$3.0K −$1.57/SF
EGI
$56.8K $30.23/SF
− OpEx
−$17.0K −$9.07/SF
NOI
$39.7K $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%
$794,780
Cap Rate 7%
$567,700
Cap Rate 9%
$441,544
Alternative Uses
Best Use
Multifamily LT 5
$567.7K
$496.7K – $662.3K
NOI $39,739 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$533.8K
$467.1K – $622.8K
NOI $37,366 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.11M
$972.8K – $1.30M
NOI $77,824 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
666
Businesses Nearby
Explore this area
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
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 offer distinct layouts, in-unit laundry, third-floor storage, and outdoor space on a corner lot.
Where is this duplex located?
The property is located at 4 Wiley Place Wakefield, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,878 square feet of living area; Built in 1900 and positioned on a corner lot; First‑floor unit includes 2 bedrooms and a step‑down living room
