Renovated
New
For Sale
$1,449,900
94-96 Francis St, Everett, MA 02149
Three-unit property with updated interiors, building systems, and dedicated on-site parking.
Property Size3,708 SF
Price / SF$391.02
Days on Market2
Property Features for 94-96 Francis St
General Information
Standard status
Active
Size
3,708 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
DD
Net Operating Income
$129,600
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,819
Building Details
Building Size
3,708 SF
Year Built
1890
Buildings
1
Stories
3
Listing Agency:
Pioneer CRE
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Sep 2
Last Checked: Sep 2 at 1:09PM
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 Pioneer CRE
Investment Insights
Based on property information with market context.
Built in 1890, this 3,708-square-foot triplex includes three residential units, with substantial interior work completed in the first and third units. Those apartments feature open-concept layouts, expanded kitchens with islands, new cabinetry, stainless steel appliances, remodeled bathrooms, and in-unit laundry. The property also includes a new roof, new windows on the third floor, and updated heating systems serving the first and third floors.
A newly paved asphalt driveway provides designated parking for six vehicles. The property is located near shopping, dining, public transportation, and other local amenities. Zoning is DD, and the property is identified as 94-96 Francis St, Everett, Massachusetts 02149.
A newly paved asphalt driveway provides designated parking for six vehicles. The property is located near shopping, dining, public transportation, and other local amenities. Zoning is DD, and the property is identified as 94-96 Francis St, Everett, Massachusetts 02149.
Key Highlights
- 3,708 square feet across three residential units
- First and third units completely renovated
- Open‑concept interiors with expanded kitchens and islands
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
$78,463
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
5.41%
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%
$1,569,260
$1.6M
Cap Rate 7%
$1,120,900
$1.1M
Cap Rate 9%
$871,811
$871.8K
Market Conditions
NOI Build-Up for 3,708 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
$117.9K $31.80/SF
− Vacancy
−$5.8K −$1.57/SF
EGI
$112.1K $30.23/SF
− OpEx
−$33.6K −$9.07/SF
NOI
$78.5K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,569,260
Cap Rate 7%
$1,120,900
Cap Rate 9%
$871,811
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$980.8K – $1.31M
NOI $78,463 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$1.05M
$922.2K – $1.23M
NOI $73,777 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$2.20M
$1.92M – $2.56M
NOI $153,659 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,444
Businesses Nearby
Explore this area
Business Placement
Demographics for 02149, MA
49,075
Population
18,541
Households
2.6
Avg Household Size
35
Median Age
23%
College-Educated
80%
High-School Grad
3.4 sq mi
ZIP Area
14,434
Density / Sq Mi
$79,658
Median Household Income
$40,836
Median Earnings
$1,988
Median Rent
$605,200
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?
Triplex - Three-unit property with updated interiors, building systems, and dedicated on-site parking.
Where is this triplex located?
The property is located at 94-96 Francis St Everett, MA.
What is the asking price?
The asking price for this property is $1,449,900.
What are key features of this property?
This property features: 3,708 square feet across three residential units; First and third units completely renovated; Open‑concept interiors with expanded kitchens and islands
