Two-Unit Duplex with Enclosed
New
For Sale
$1,195,000
35-37 Amherst St, Arlington, MA 02474
Residential Income, Arlington, MA
Property Size2,339 SF
Lot Size0.10 Acres
Price / SF$510.90
Days on Market2
Property Features for 35-37 Amherst St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2
Parking
4
Directions
Mystic to Chestnut to Warren to Amherst
Subdivision
East Arlington
Standard status
Active
APN
M:040.0 B:0004 L:0020,321292
Size
2,339 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11788
Amenities
hardwood floors
in-unit laundry
enclosed porch
fenced yard
patio area
covered porch
original woodwork
built-ins
Building Details
Year built
1924
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty Boston Northwest
(617) 497-8900
Listed By:
Christina Hill
(978) 369-5775
Added: Sep 9
Last Checked: Sep 10 at 8:06AM
MLS# 73574735
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 35-37 Amherst St, this 2,339-square-foot duplex contains two separate residential units. The first-floor apartment includes one bedroom, one bathroom, a living and dining area, kitchen, hardwood floors, and in-unit laundry. The second-floor residence provides three bedrooms, one bathroom, an eat-in kitchen, hardwood floors, in-unit laundry, and an enclosed porch facing the backyard. Original woodwork and built-in features remain throughout the property.
The 0.1033-acre parcel includes a fenced yard, patio, and covered porch. Arlington Center is less than a mile away, while Spy Pond Park is just over 1/2 mile from the property. The Medford Commuter Rail is also less than a mile away, with access to local shops, dining, recreation, and transportation. The property was built in 1924, is zoned R2, and is being sold as-is.
The 0.1033-acre parcel includes a fenced yard, patio, and covered porch. Arlington Center is less than a mile away, while Spy Pond Park is just over 1/2 mile from the property. The Medford Commuter Rail is also less than a mile away, with access to local shops, dining, recreation, and transportation. The property was built in 1924, is zoned R2, and is being sold as-is.
Key Highlights
- Two residential units with 1‑bedroom and 3‑bedroom layouts
- 2,339 square feet on a 0.1033‑acre parcel
- First‑floor unit includes in‑unit laundry and hardwood floors
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
$49,494
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
4.14%
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%
$989,880
$989.9K
Cap Rate 7%
$707,057
$707.1K
Cap Rate 9%
$549,933
$549.9K
Market Conditions
NOI Build-Up for 2,339 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
$74.4K $31.80/SF
− Vacancy
−$3.7K −$1.57/SF
EGI
$70.7K $30.23/SF
− OpEx
−$21.2K −$9.07/SF
NOI
$49.5K $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%
$989,880
Cap Rate 7%
$707,057
Cap Rate 9%
$549,933
Alternative Uses
Best Use
Multifamily LT 5
$707.1K
$618.7K – $824.9K
NOI $49,494 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$664.8K
$581.7K – $775.6K
NOI $46,538 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$1.38M
$1.21M – $1.62M
NOI $96,928 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,295
Businesses Nearby
Explore this area
Business Placement
Demographics for 02474, MA
28,551
Population
12,541
Households
2.3
Avg Household Size
40
Median Age
74%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
9,210
Density / Sq Mi
$139,199
Median Household Income
$80,498
Median Earnings
$2,157
Median Rent
$887,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned property offers separate layouts, hardwood floors, private laundry, and outdoor space.
Where is this duplex located?
The property is located at 35-37 Amherst St Arlington, MA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two residential units with 1‑bedroom and 3‑bedroom layouts; 2,339 square feet on a 0.1033‑acre parcel; First‑floor unit includes in‑unit laundry and hardwood floors
