Three-Unit Residential Income
637 Nantasket Avenue Hull, MA 02045
637 Nantasket Avenue, Hull, MA, 02045
$695,000
For Sale
$695,000
Fully rented three-family home with separate heating systems and three gas meters; rent includes key utilities.
Property Size2,609 SF
Price / SF$266.39
Days on Market72
Property Features for 637 Nantasket Avenue
General Information
- Standard status
- Active
- Size
- 2,609 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
Divito Realty
Listed by
Sue Ann Murley
(617) 731-4644
Source
Hammondre
Added: May 12 Updated: Jul 21 at 6:34PM Checked: Jul 21 at 6:34PM
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 Divito Realty
Investment Insights
Based on property information with market context.
This fully rented three-family residence is configured as 3/1/1, offering three separate units within one property. The rent includes heat, hot water, electric, and water/sewer. Metering and mechanical systems are set up separately, with one electric meter, three separate heating systems (two gas FHA systems and one gas boiler), and three separate gas meters. The hot water is described as running off the boiler.
The property is listed as being minutes to a sandy beach. A lead paint certificate is noted for the three-bedroom unit.
A private market flood quote is included at $1,212.80. The listing also states the property is being offered as a package with 439 Newport Rd (MLS# 73519331) for $1,125,000.
The property is listed as being minutes to a sandy beach. A lead paint certificate is noted for the three-bedroom unit.
A private market flood quote is included at $1,212.80. The listing also states the property is being offered as a package with 439 Newport Rd (MLS# 73519331) for $1,125,000.
Key Highlights
- Fully rented 3‑family home with 3 separate heating systems (2 Gas FHA systems and 1 gas boiler)
- Rent includes heat, hot water, electric, and water/sewer
- Utilities are separately metered: 1 electric meter and 3 separate gas meters
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.5k | $25.50 |
| − Vacancy | −$3.5k | −$1.36 |
| EGI | $63.0k | $24.14 |
| − OpEx | −$18.9k | −$7.24 |
| NOI | $44.1k | $16.90 |
2,609 SF · lease $25.50/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$629.9K
$551.2K – $734.9K
NOI $44,093 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$580.5K
$508.0K – $677.3K
NOI $40,638 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,116 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Fully rented three-family home with separate heating systems and three gas meters; rent includes key utilities.
Where is this triplex located?
The property is located at 637 Nantasket Avenue Hull, MA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Fully rented 3‑family home with 3 separate heating systems (2 Gas FHA systems and 1 gas boiler); Rent includes heat, hot water, electric, and water/sewer; Utilities are separately metered: 1 electric meter and 3 separate gas meters
