Renovated Two-Family
New
For Sale
$1,039,000
10-12 Auburn St, Waltham, MA 02453
Two updated residences offer hardwood floors, private outdoor areas, a detached garage, and flexible owner-occupant or rental use.
Property Size2,288 SF
Price / SF$454.11
Days on Market5
Property Features for 10-12 Auburn St
General Information
Standard status
Active
Size
2,288 SF
Property subtype
2 Family - 2 Units Up/Down
Building Details
Year Built
1920
Listing Agency:
Keller Williams Realty
(617) 216-4000
Listed By:
Jonathan Slater
(617) 216-4000
Source:
Lockandkeyre
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 12:21PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This renovated duplex contains two separate 2-bedroom, 1-bath residences totaling approximately 2,288 square feet, with about 1,144 square feet per unit. Both apartments feature hardwood flooring, generously sized rooms, and established interior finishes. The property also includes a detached two-car garage, a second-floor covered deck, landscaped front, side, and rear areas, and an unfinished basement for storage.
Located at 10-12 Auburn St in Waltham, the property is near Main Street and Walgreens, with shopping, restaurants, and daily conveniences nearby. I-95 is readily accessible. The two-family configuration supports multiple occupancy strategies, including living in one apartment while leasing the other or renting both units.
Located at 10-12 Auburn St in Waltham, the property is near Main Street and Walgreens, with shopping, restaurants, and daily conveniences nearby. I-95 is readily accessible. The two-family configuration supports multiple occupancy strategies, including living in one apartment while leasing the other or renting both units.
Key Highlights
- Two 2‑bedroom, 1‑bath residences totaling approximately 2,288 square feet
- Approximately 1,144 square feet per unit
- Detached two‑car garage plus unfinished basement storage
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
$48,415
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
4.66%
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%
$968,300
$968.3K
Cap Rate 7%
$691,643
$691.6K
Cap Rate 9%
$537,944
$537.9K
Market Conditions
NOI Build-Up for 2,288 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
$72.8K $31.80/SF
− Vacancy
−$3.6K −$1.57/SF
EGI
$69.2K $30.23/SF
− OpEx
−$20.7K −$9.07/SF
NOI
$48.4K $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%
$968,300
Cap Rate 7%
$691,643
Cap Rate 9%
$537,944
Alternative Uses
Best Use
Multifamily LT 5
$691.6K
$605.2K – $806.9K
NOI $48,415 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$650.3K
$569.0K – $758.7K
NOI $45,523 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$1.35M
$1.19M – $1.58M
NOI $94,814 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,761
Businesses Nearby
Explore this area
Business Placement
Demographics for 02453, MA
31,854
Population
13,163
Households
2.4
Avg Household Size
34
Median Age
59%
College-Educated
92%
High-School Grad
3.6 sq mi
ZIP Area
8,848
Density / Sq Mi
$114,029
Median Household Income
$58,036
Median Earnings
$2,063
Median Rent
$666,300
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?
Duplex - Two updated residences offer hardwood floors, private outdoor areas, a detached garage, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 10-12 Auburn St Waltham, MA.
What is the asking price?
The asking price for this property is $1,039,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath residences totaling approximately 2,288 square feet; Approximately 1,144 square feet per unit; Detached two‑car garage plus unfinished basement storage
