Updated Two-Unit
For Sale
$639,000
55 Franklin Street, Braintree, MA 02184
Vacant multifamily property with separate gas and electric meters, individual laundry hookups, and recent system improvements.
Property Size1,816 SF
Price / SF$351.87
Days on Market85
Property Features for 55 Franklin Street
General Information
Standard status
Active
Size
1,816 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Listing Agency:
William Raveis R.E. & Home Services
(508) 631-5634
Listed By:
Shauna Fanning
(617) 696-6100
Source:
Kelleyrege
Added: Jun 9
Changed: Aug 30
Last Checked: Aug 31 at 7:42PM
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 William Raveis R.E. & Home Services
Investment Insights
Based on property information with market context.
This two-family duplex includes a two-bedroom, one-bath first-floor residence and a one-bedroom, one-bath second-floor residence. Both units have a kitchen, living room, and dining room, while laundry hookups are available inside each apartment and in the rear common area. Separate gas and electric meters serve the units. The property will be delivered vacant, allowing the next owner to occupy one or both residences or lease them separately.
Capital improvements include heating and central air systems installed for both units in 2020, precast rear stairs completed in 2023, and hot water heaters for both units installed in 2026. Built in 1900 and zoned B, the property is near the Red Line, Braintree Center, Braintree High School, Sunset Lake, local parks, shopping, dining, and major commuter routes.
Capital improvements include heating and central air systems installed for both units in 2020, precast rear stairs completed in 2023, and hot water heaters for both units installed in 2026. Built in 1900 and zoned B, the property is near the Red Line, Braintree Center, Braintree High School, Sunset Lake, local parks, shopping, dining, and major commuter routes.
Key Highlights
- Two‑family duplex with 2‑bedroom and 1‑bedroom units
- Vacant delivery supports owner occupancy or separate leasing
- Heating and central air systems for both units installed in 2020
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
$32,531
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
5.09%
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%
$650,620
$650.6K
Cap Rate 7%
$464,729
$464.7K
Cap Rate 9%
$361,456
$361.5K
Market Conditions
NOI Build-Up for 1,816 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
$49.0K $27.00/SF
− Vacancy
−$2.6K −$1.41/SF
EGI
$46.5K $25.59/SF
− OpEx
−$13.9K −$7.68/SF
NOI
$32.5K $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%
$650,620
Cap Rate 7%
$464,729
Cap Rate 9%
$361,456
Alternative Uses
Best Use
Multifamily LT 5
$464.7K
$406.6K – $542.2K
NOI $32,531 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$428.8K
$375.2K – $500.3K
NOI $30,015 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$1.08M
$940.7K – $1.25M
NOI $75,255 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,012
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
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 - Vacant multifamily property with separate gas and electric meters, individual laundry hookups, and recent system improvements.
Where is this duplex located?
The property is located at 55 Franklin Street Braintree, MA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Two‑family duplex with 2‑bedroom and 1‑bedroom units; Vacant delivery supports owner occupancy or separate leasing; Heating and central air systems for both units installed in 2020
