Victorian Triplex with Harbor
For Sale
$1,059,999
Pending
5 Marshfield St, Gloucester, MA 01930
Three-unit property with a four-bedroom owner’s residence and two one-bedroom apartments.
Property Size3,219 SF
Days on Market131
Property Features for 5 Marshfield St
General Information
Standard status
Pending
Size
3,219 SF
Property subtype
Investment
Property Condition
Severity
Repairs Needed
Evidence
significant work remains
Units
Unit Mix
1 x 4-bedroom, 2 x 1-bedroom
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,294
Amenities
fireplace
deck
Building Details
Building Size
3,219 SF
Year Built
1900
Buildings
1
Stories
5
Units
3
Construction
Victorian
Listing Agency:
(978) 815-3877
Listed By:
Joseph Militello
(978) 815-3877
Source:
Elliman
Added: Apr 24
Changed: Aug 31
Last Checked: Aug 31 at 6:53PM
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 Joseph Militello
Investment Insights
Based on property information with market context.
Built in 1900, this Victorian triplex includes a four-bedroom owner’s residence and two additional one-bedroom apartments. The larger unit has curved walls, generously sized rooms, and harbor-facing views. Apartment 1 retains wood floors, traditional trim, and a fireplace, while Apartment 2 is arranged as a compact one-bedroom unit. Some bathroom updates have been completed, and most hardwired smoke and carbon monoxide detectors are installed. The property requires significant remaining work, offering a restoration project with multiple unit configurations.
A substantial wraparound deck looks across Gloucester Harbor. The property is located near Stacey Boulevard, beaches, and shops at 5 Marshfield St, Gloucester, Massachusetts. WalkScore is 65, BikeScore is 38, and TransitScore is 36.
A substantial wraparound deck looks across Gloucester Harbor. The property is located near Stacey Boulevard, beaches, and shops at 5 Marshfield St, Gloucester, Massachusetts. WalkScore is 65, BikeScore is 38, and TransitScore is 36.
Key Highlights
- Three‑unit Victorian property built in 1900
- Four‑bedroom owner’s unit plus two one‑bedroom apartments
- Wraparound deck overlooking Gloucester Harbor
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
$54,228
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
5.12%
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%
$1,084,560
$1.1M
Cap Rate 7%
$774,686
$774.7K
Cap Rate 9%
$602,533
$602.5K
Market Conditions
NOI Build-Up for 3,219 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
$81.1K $25.20/SF
− Vacancy
−$3.7K −$1.13/SF
EGI
$77.5K $24.07/SF
− OpEx
−$23.2K −$7.22/SF
NOI
$54.2K $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%
$1,084,560
Cap Rate 7%
$774,686
Cap Rate 9%
$602,533
Alternative Uses
Best Use
Multifamily LT 5
$774.7K
$677.9K – $903.8K
NOI $54,228 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$699.3K
$611.9K – $815.8K
NOI $48,949 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$1.91M
$1.67M – $2.22M
NOI $133,395 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 01930, MA
29,729
Population
14,630
Households
2
Avg Household Size
50
Median Age
39%
College-Educated
94%
High-School Grad
26.2 sq mi
ZIP Area
1,135
Density / Sq Mi
$87,898
Median Household Income
$49,580
Median Earnings
$1,395
Median Rent
$587,800
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?
Triplex - Three-unit property with a four-bedroom owner’s residence and two one-bedroom apartments.
Where is this triplex located?
The property is located at 5 Marshfield St Gloucester, MA.
What is the asking price?
The asking price for this property is $1,059,999.
What are key features of this property?
This property features: Three‑unit Victorian property built in 1900; Four‑bedroom owner’s unit plus two one‑bedroom apartments; Wraparound deck overlooking Gloucester Harbor
