Quadplex with Off-Street
For Sale
$1,250,000
47 - 49 Middle Street, Braintree, MA 02184
Residential Income, Braintree, MA
Property Size3,986 SF
Lot Size0.31 Acres
Price / SF$313.60
Days on Market8
Property Features for 47 - 49 Middle Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 8, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 3
Parking
8
Fireplace
1
Directions
Driveway is on the Middle Street bridge/overpass, between Elm St and Myrtle Street
Subdivision
East Braintree
Standard status
Active
Size
3,986 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9737
Amenities
coin-op laundry
Building Details
Year built
1890
Floors in Building
4
Number of units
4
Listing Agency:
Keller Williams Realty Signature Properties
Listed By:
Al Styles
(781) 924-5766
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 23 at 12:06AM
MLS# 73578522
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,986-square-foot quadplex on a 0.3076-acre lot contains four two-bedroom, one-bath apartments, with two residences on each level. Built in 1890, the property includes hardwood floors, separate electric panels, individual heating and hot water systems, and direct basement access from every unit. The basement has Speed Queen coin-operated laundry equipment. Two units will be delivered vacant; one includes a remodeled kitchen and updated bath. The remaining two apartments are occupied. Each residence is assigned two driveway parking spaces, and the property has town water and sewer.
The property is located at 47 - 49 Middle Street in Braintree, with MBTA bus service on Middle Street and access to multiple MBTA stations, the Red Line, and Commuter Rail. The Monatiquot River Middle Street Loop Trail begins near the driveway, while mature landscaping surrounds the grounds. Zoning is B, and East Middle School and local shopping are nearby.
The property is located at 47 - 49 Middle Street in Braintree, with MBTA bus service on Middle Street and access to multiple MBTA stations, the Red Line, and Commuter Rail. The Monatiquot River Middle Street Loop Trail begins near the driveway, while mature landscaping surrounds the grounds. Zoning is B, and East Middle School and local shopping are nearby.
Key Highlights
- Four‑unit property with 3,986 square feet on 0.3076 acres
- Each apartment has 2 bedrooms, 1 full bath, hardwood flooring, and 2 off‑street parking spaces
- Two units delivered vacant; Unit 47 includes a newly remodeled kitchen and refreshed bath
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
$71,403
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
5.71%
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%
$1,428,060
$1.4M
Cap Rate 7%
$1,020,043
$1.0M
Cap Rate 9%
$793,367
$793.4K
Market Conditions
NOI Build-Up for 3,986 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
$107.6K $27.00/SF
− Vacancy
−$5.6K −$1.41/SF
EGI
$102.0K $25.59/SF
− OpEx
−$30.6K −$7.68/SF
NOI
$71.4K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$1,428,060
Cap Rate 7%
$1,020,043
Cap Rate 9%
$793,367
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$892.5K – $1.19M
NOI $71,403 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$941.2K
$823.5K – $1.10M
NOI $65,881 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,179 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
667
Businesses Nearby
Explore this area
Business Placement
Demographics for 02184, MA
39,143
Population
15,032
Households
2.6
Avg Household Size
42
Median Age
47%
College-Educated
93%
High-School Grad
13.8 sq mi
ZIP Area
2,836
Density / Sq Mi
$125,305
Median Household Income
$65,542
Median Earnings
$1,925
Median Rent
$623,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments offer separate utilities, hardwood flooring, basement laundry, and access to two vacant units.
Where is this quadplex located?
The property is located at 47 - 49 Middle Street Braintree, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Four‑unit property with 3,986 square feet on 0.3076 acres; Each apartment has 2 bedrooms, 1 full bath, hardwood flooring, and 2 off‑street parking spaces; Two units delivered vacant; Unit 47 includes a newly remodeled kitchen and refreshed bath
