Three-Unit Multifamily
New
For Sale
$789,000
9 Knowlton Sq, Gloucester, MA 01930
Townhouse-style and garden-style residences include flexible layouts, a private backyard, and off-street parking.
Property Size3,614 SF
Days on Market4
Property Features for 9 Knowlton Sq
General Information
Standard status
Active
Size
3,614 SF
Property subtype
3 Family
Taxes and HOA fees
Annual Taxes
$6,698
Building Details
Building Size
3,614 SF
Year Built
1900
Listing Agency:
Vadala Real Estate
Listed By:
Mark Ventimiglia · License #9070608
(978) 281-1111
Source:
Donnellyandco
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 13 at 11:19AM
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 Vadala Real Estate
Investment Insights
Based on property information with market context.
This three-unit property, built in 1900, combines two townhouse-style residences with a top-floor garden-style apartment. Unit 1 includes three bedrooms, two bathrooms, a living room, dining room, kitchen, and a finished lower level with four additional rooms. Unit 2 offers a flexible configuration that can accommodate either two or three bedrooms. Unit 3 is a two-bedroom residence.
The property also includes a private backyard and off-street parking. Its location provides access to Route 128, the MBTA Commuter Rail, and amenities in Gloucester.
The property also includes a private backyard and off-street parking. Its location provides access to Route 128, the MBTA Commuter Rail, and amenities in Gloucester.
Key Highlights
- Three‑unit multifamily property built in 1900
- Unit 1 features 3 bedrooms, 2 bathrooms, and a finished lower level with 4 additional rooms
- Unit 2 has a flexible 2- or 3‑bedroom layout
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
$60,882
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
7.72%
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%
$1,217,640
$1.2M
Cap Rate 7%
$869,743
$869.7K
Cap Rate 9%
$676,467
$676.5K
Market Conditions
NOI Build-Up for 3,614 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
$91.1K $25.20/SF
− Vacancy
−$4.1K −$1.13/SF
EGI
$87.0K $24.07/SF
− OpEx
−$26.1K −$7.22/SF
NOI
$60.9K $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%
$1,217,640
Cap Rate 7%
$869,743
Cap Rate 9%
$676,467
Alternative Uses
Best Use
Multifamily LT 5
$869.7K
$761.0K – $1.01M
NOI $60,882 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$785.1K
$687.0K – $915.9K
NOI $54,956 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,763 @ 7.0% cap · market cap 18.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,059
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Townhouse-style and garden-style residences include flexible layouts, a private backyard, and off-street parking.
Where is this triplex located?
The property is located at 9 Knowlton Sq Gloucester, MA.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1900; Unit 1 features 3 bedrooms, 2 bathrooms, and a finished lower level with 4 additional rooms; Unit 2 has a flexible 2- or 3‑bedroom layout
