Four-Unit Multifamily
For Sale
$689,999
49-53 Fredonian, Shirley, MA 01464
R3-zoned four-family property with one vacant unit suited to an owner-occupant.
Property Size2,978 SF
Price / SF$231.70
Days on Market140
Property Features for 49-53 Fredonian
General Information
Standard status
Active
Size
2,978 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
R3
Additional Details
Multifamily Units
4
Amenities
No
6
Building Details
Stories
2
Listing Agency:
eXp Realty
(888) 854-7493
Listed By:
Above and Beyond Team
Source:
Reishomesearch
Added: Apr 13
Changed: Aug 29
Last Checked: Aug 29 at 3:39PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This four-family property at 49-53 Fredonian in Shirley, Massachusetts, includes one vacant unit and is designated R3. The property size is listed as 2978, supporting a compact multifamily configuration for an owner-occupant or investor.
The property is positioned near local amenities and commuter routes, with access to the Shirley area’s surrounding services and transportation connections.
The property is positioned near local amenities and commuter routes, with access to the Shirley area’s surrounding services and transportation connections.
Key Highlights
- Four‑family multifamily property
- One vacant unit available for an owner‑occupant
- R3 zoning designation
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
$63,016
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
9.13%
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%
$1,260,320
$1.3M
Cap Rate 7%
$900,229
$900.2K
Cap Rate 9%
$700,178
$700.2K
Market Conditions
NOI Build-Up for 2,978 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
$94.7K $31.80/SF
− Vacancy
−$4.7K −$1.57/SF
EGI
$90.0K $30.23/SF
− OpEx
−$27.0K −$9.07/SF
NOI
$63.0K $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%
$1,260,320
Cap Rate 7%
$900,229
Cap Rate 9%
$700,178
Alternative Uses
Best Use
Multifamily LT 5
$900.2K
$787.7K – $1.05M
NOI $63,016 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$846.5K
$740.7K – $987.5K
NOI $59,252 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,408 @ 7.0% cap · market cap 17.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 01464, MA
7,427
Population
2,512
Households
3
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
15.1 sq mi
ZIP Area
492
Density / Sq Mi
$121,875
Median Household Income
$73,721
Median Earnings
$1,189
Median Rent
$412,700
Median Home Value
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?
Quadplex - R3-zoned four-family property with one vacant unit suited to an owner-occupant.
Where is this quadplex located?
The property is located at 49-53 Fredonian Shirley, MA.
What is the asking price?
The asking price for this property is $689,999.
What are key features of this property?
This property features: Four‑family multifamily property; One vacant unit available for an owner‑occupant; R3 zoning designation
