Three-Unit Triplex with Exterior
New
For Sale
$1,000,000
4 - 6 Willis Street, Framingham, MA 01702
Well-maintained multifamily property with laundry in each residence and flexible owner-occupant or rental use.
Property Size3,132 SF
Days on Market5
Property Features for 4 - 6 Willis Street
General Information
Standard status
Active
Size
3,132 SF
Total Parking Spaces
8
Property subtype
Multifamily
Units
Unit Mix
1 x 3BR/2BA, 2 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,802
Amenities
in-unit laundry
deck
storage
fireplace
Building Details
Building Size
3,132 SF
Year Built
1974
Tenancy
Multi
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
The Reece Team · License #1999023818
(404) 668-6621
Source:
Classifiedrealtygroup
Added: Sep 9
Last Checked: Sep 13 at 5:40AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This three-family property, built in 1974, includes one larger residence with three bedrooms, two full bathrooms, hardwood flooring, a fireplace, and an exterior deck. Two additional one-bedroom residences complete the layout, and each unit has in-unit laundry. Multiple outbuildings provide additional storage.
The building is located at 4–6 Willis Street in Framingham, Massachusetts. One central forced-air gas heating system serves the entire property, while each residence has separate electric service. The property has remained with the same owner since construction and is currently subject to tenant occupancy, with 24-hour notice required for showings.
The building is located at 4–6 Willis Street in Framingham, Massachusetts. One central forced-air gas heating system serves the entire property, while each residence has separate electric service. The property has remained with the same owner since construction and is currently subject to tenant occupancy, with 24-hour notice required for showings.
Key Highlights
- Three‑family property with one 3‑bedroom, 2‑bath residence and two 1‑bedroom units
- In‑unit laundry provided in all three residences
- Exterior deck attached to the larger residence
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
$66,274
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
6.63%
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%
$1,325,480
$1.3M
Cap Rate 7%
$946,771
$946.8K
Cap Rate 9%
$736,378
$736.4K
Market Conditions
NOI Build-Up for 3,132 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
$99.6K $31.80/SF
− Vacancy
−$4.9K −$1.57/SF
EGI
$94.7K $30.23/SF
− OpEx
−$28.4K −$9.07/SF
NOI
$66.3K $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%
$1,325,480
Cap Rate 7%
$946,771
Cap Rate 9%
$736,378
Alternative Uses
Best Use
Multifamily LT 5
$946.8K
$828.4K – $1.10M
NOI $66,274 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$890.2K
$779.0K – $1.04M
NOI $62,316 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,789 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
538
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Triplex - Well-maintained multifamily property with laundry in each residence and flexible owner-occupant or rental use.
Where is this triplex located?
The property is located at 4 - 6 Willis Street Framingham, MA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Three‑family property with one 3‑bedroom, 2‑bath residence and two 1‑bedroom units; In‑unit laundry provided in all three residences; Exterior deck attached to the larger residence
