Porch-Updated
For Sale
$849,900
48 Franklin Street, Peabody, MA 01960
Separate residences provide distinct kitchens, laundry areas, full bathrooms, and generous bedroom accommodations.
Property Size2,850 SF
Price / SF$298.21
Days on Market11
Property Features for 48 Franklin Street
General Information
Standard status
Active
Size
2,850 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1880
Buildings
1
Listing Agency:
J. Barrett & Company
Listed By:
Joyce Diliegro
(617) 694-0004
Source:
Somervillelofts
Added: Aug 10
Changed: Aug 19
Last Checked: Aug 20 at 8:41AM
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 J. Barrett & Company
Investment Insights
Based on property information with market context.
Built in 1880, this duplex contains two residential units with distinct layouts and living areas. The first-floor residence includes five rooms, two bedrooms, an eat-in kitchen with white cabinetry, granite countertops, modern appliances, and laundry hookups. Hardwood flooring, fresh paint, a full bathroom, and a built-in china cabinet add practical and traditional details. The two-level second-floor residence offers eight rooms and five bedrooms, with an eat-in kitchen featuring a skylight, separate laundry room, dining area, living room with a cast-iron stove, full bathroom, and upper-level half bath. Recent improvements include front and rear porches completed in 2025, a new main-building roof in 2026, and a refurbished first-floor kitchen in 2026. The property also includes a partially fenced backyard and is near downtown Peabody, major highways, shopping, restaurants, and local amenities.
Key Highlights
- Duplex with two separate residential units and distinct floor plans
- First‑floor unit includes 2 bedrooms, granite kitchen countertops, laundry hookups, and hardwood flooring
- Second‑floor unit spans two levels with 5 bedrooms and 8 rooms
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
$48,012
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
5.65%
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%
$960,240
$960.2K
Cap Rate 7%
$685,886
$685.9K
Cap Rate 9%
$533,467
$533.5K
Market Conditions
NOI Build-Up for 2,850 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
$71.8K $25.20/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$68.6K $24.07/SF
− OpEx
−$20.6K −$7.22/SF
NOI
$48.0K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /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%
$960,240
Cap Rate 7%
$685,886
Cap Rate 9%
$533,467
Alternative Uses
Best Use
Multifamily LT 5
$685.9K
$600.2K – $800.2K
NOI $48,012 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$619.1K
$541.7K – $722.3K
NOI $43,338 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,103 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 01960, MA
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,385
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
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 - Separate residences provide distinct kitchens, laundry areas, full bathrooms, and generous bedroom accommodations.
Where is this duplex located?
The property is located at 48 Franklin Street Peabody, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Duplex with two separate residential units and distinct floor plans; First‑floor unit includes 2 bedrooms, granite kitchen countertops, laundry hookups, and hardwood flooring; Second‑floor unit spans two levels with 5 bedrooms and 8 rooms
