Three-Family Residential Income
For Sale
$1,075,000
46 Richardson St, Wakefield, MA 01880
Well-maintained three-family with driveway and garage parking, shared laundry, and a large backyard.
Property Size2,640 SF
Price / SF$407.20
Days on Market142
Property Features for 46 Richardson St
General Information
Standard status
Active
Size
2,640 SF
Property subtype
3 Family
Building Details
Year Built
1910
Listing Agency:
All County Select Property Management
(978) 704-8200
Listed By:
Devin Caglayan
(617) 820-8471
Source:
Lockandkeyre
Added: Apr 17
Changed: Sep 3
Last Checked: Sep 5 at 6:07AM
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 All County Select Property Management
Investment Insights
Based on property information with market context.
This well-maintained three-family residential income property offers three separate units with a spacious first-floor layout. The first-floor unit includes three bedrooms, a newer kitchen, refinished hardwood floors, and a front porch. The interior also features laminate flooring in the living room and kitchen, with a freshly painted interior. The kitchen is equipped with a gas range, dishwasher, and refrigerator, and shared laundry is available.
Parking is provided via a driveway and garage, with ample storage and a large backyard. The property is located on a quiet, tree-lined street in Wakefield and is within walking distance to the commuter rail, with access to downtown Boston in under 30 minutes, along with proximity to the town center, Crystal Lake, and Lake Quannapowitt.
Parking is provided via a driveway and garage, with ample storage and a large backyard. The property is located on a quiet, tree-lined street in Wakefield and is within walking distance to the commuter rail, with access to downtown Boston in under 30 minutes, along with proximity to the town center, Crystal Lake, and Lake Quannapowitt.
Key Highlights
- Three‑family property built in 1910 in Wakefield
- Driveway and garage parking plus a large backyard
- First‑floor unit features 3 bedrooms, newer kitchen, and refinished hardwood floors
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
$55,863
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
5.20%
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%
$1,117,260
$1.1M
Cap Rate 7%
$798,043
$798.0K
Cap Rate 9%
$620,700
$620.7K
Market Conditions
NOI Build-Up for 2,640 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
$84.0K $31.80/SF
− Vacancy
−$4.1K −$1.57/SF
EGI
$79.8K $30.23/SF
− OpEx
−$23.9K −$9.07/SF
NOI
$55.9K $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%
$1,117,260
Cap Rate 7%
$798,043
Cap Rate 9%
$620,700
Alternative Uses
Best Use
Multifamily LT 5
$798.0K
$698.3K – $931.1K
NOI $55,863 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$750.4K
$656.6K – $875.5K
NOI $52,527 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,401 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,400
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?
Triplex - Well-maintained three-family with driveway and garage parking, shared laundry, and a large backyard.
Where is this triplex located?
The property is located at 46 Richardson St Wakefield, MA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Three‑family property built in 1910 in Wakefield; Driveway and garage parking plus a large backyard; First‑floor unit features 3 bedrooms, newer kitchen, and refinished hardwood floors
