Residential Income
For Sale
$3,850,000
4A Wren Circle, North Reading, MA 01864
Built in 1998 with partially finished interior space and paved, deeded off-street parking.
Property Size11,297 SF
Price / SF$340.80
Days on Market54
Property Features for 4A Wren Circle
General Information
Standard status
Active
Size
11,297 SF
Total Parking Spaces
16
Property subtype
Residential Income
Zoning
RA
Taxes and HOA fees
Annual Taxes
$48,014
Amenities
Pool, Tennis Court(s), Park, Stable(s), Golf
Full, Partially Finished, Interior Entry, Sump Pump
Paved, Off Street, Deeded
Building Details
Building Size
11,297 SF
Year Built
1998
Stories
5
Listing Agency:
(617) 291-8220
Listed By:
Marina Tramontozzi
(617) 291-8220
Source:
Evrealestate
Added: Jun 17
Changed: Aug 9
Last Checked: Aug 9 at 3:23PM
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 Marina Tramontozzi
Investment Insights
Based on property information with market context.
This residential income property was built in 1998 and has a listed property size of 11,297. Interior features include full and partially finished areas, interior entry, and a sump pump. Exterior improvements include paved, off-street, deeded parking.
The property is located at 4A Wren Circle in North Reading, Massachusetts, within Middlesex County. The zoning designation is RA. Access directions run from North Street to Country Club Road and then to Wren Circle.
The property is located at 4A Wren Circle in North Reading, Massachusetts, within Middlesex County. The zoning designation is RA. Access directions run from North Street to Country Club Road and then to Wren Circle.
Key Highlights
- 1998 construction
- RA zoning designation
- Full and partially finished interior areas with interior entry
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
$224,772
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
5.84%
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%
$4,495,440
$4.5M
Cap Rate 7%
$3,211,029
$3.2M
Cap Rate 9%
$2,497,467
$2.5M
Market Conditions
NOI Build-Up for 11,297 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
$431.1K $38.16/SF
− Vacancy
−$22.4K −$1.98/SF
EGI
$408.7K $36.18/SF
− OpEx
−$183.9K −$16.28/SF
NOI
$224.8K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
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%
$4,495,440
Cap Rate 7%
$3,211,029
Cap Rate 9%
$2,497,467
Alternative Uses
Best Use
Apartment 5plus
$3.21M
$2.81M – $3.75M
NOI $224,772 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.69M
$5.85M – $7.80M
NOI $468,145 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Explore this area
Business Placement
Demographics for 01864, MA
15,554
Population
5,920
Households
2.6
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
13.2 sq mi
ZIP Area
1,178
Density / Sq Mi
$150,820
Median Household Income
$70,981
Median Earnings
$2,253
Median Rent
$680,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1998 with partially finished interior space and paved, deeded off-street parking.
Where is this residential income property located?
The property is located at 4A Wren Circle North Reading, MA.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: 1998 construction; RA zoning designation; Full and partially finished interior areas with interior entry
