Two-Unit Duplex on Corner
1 Drew Ave, Weymouth, MA 02189
For Sale
New
$599,900
Each residence occupies two levels and includes a living room, dining room, kitchen, and separate address.
Property Size2,488 SF
Price / SF$241.12
Days on Market5
Property Features for 1 Drew Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Property Condition
Severity
Evidence
Site & Location
Highway Access
Road Access
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
William Raveis R.E. & Home Services
Listed By:
Jessica Molisse
(978) 835-3879
Source:
Jonathanradford
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 10:02AM
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
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,488 square feet and was built in 1880. The residences have a combined seven bedrooms and two full and two half bathrooms; each spans two floors and has its own living, dining, and kitchen areas. Wood flooring, separate electric and water service, and a full basement with interior access are among the existing features. A gas furnace was installed in 2017, and paved off-street parking accommodates two vehicles. The property needs updating. Located on the corner of Commercial Street and Drew Avenue, it has two separate addresses: 1138 Commercial Street and 1 Drew Avenue.
Transit and area amenities include the MBTA 222 bus on Commercial Street and East Weymouth station on the Greenbush commuter rail line. Jackson Square’s shops and services, the Franklin Pratt Library, Herring Run Pool Park, Iron Hill Park, and Whitman’s Pond are nearby. Routes 3A, 3, and 18 provide additional regional access.
Transit and area amenities include the MBTA 222 bus on Commercial Street and East Weymouth station on the Greenbush commuter rail line. Jackson Square’s shops and services, the Franklin Pratt Library, Herring Run Pool Park, Iron Hill Park, and Whitman’s Pond are nearby. Routes 3A, 3, and 18 provide additional regional access.
Key Highlights
- Two residences with a combined 7 bedrooms and 2 full and 2 half baths
- 2,488 square feet; built in 1880
- Separate electric and water service; gas furnace installed in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,569
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$891,380
$891.4K
Cap Rate 7%
$636,700
$636.7K
Cap Rate 9%
$495,211
$495.2K
Market Conditions
NOI Build-Up for 2,488 SF
Gross rent
$67.2K $27.00/SF
− Vacancy
−$3.5K −$1.41/SF
EGI
$63.7K $25.59/SF
− OpEx
−$19.1K −$7.68/SF
NOI
$44.6K $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 Rate 5%
$891,380
Cap Rate 7%
$636,700
Cap Rate 9%
$495,211
Alternative Uses
Best Use
Multifamily LT 5
$636.7K
$557.1K – $742.8K
NOI $44,569 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$587.5K
$514.0K – $685.4K
NOI $41,122 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,102 @ 7.0% cap · market cap 17.19%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
Explore this area
Business Placement
Demographics for 02189, MA
15,123
Population
6,689
Households
2.3
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
3,781
Density / Sq Mi
$91,842
Median Household Income
$53,785
Median Earnings
$1,732
Median Rent
$463,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Norfolk County, MA
Properties on Market for Duplexes in Norfolk County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence occupies two levels and includes a living room, dining room, kitchen, and separate address.
Where is this duplex located?
The property is located at 1 Drew Ave Weymouth, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two residences with a combined 7 bedrooms and 2 full and 2 half baths; 2,488 square feet; built in 1880; Separate electric and water service; gas furnace installed in 2017
