Renovated Duplex With
New
For Sale
$1,039,000
10-12 Auburn St, Waltham, MA 02453
MULTI_FAMILY - Waltham, MA
Property Size2,288 SF
Lot Size0.18 Acres
Price / SF$454.11
Days on Market4
Property Features for 10-12 Auburn St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2
Parking
6
Fireplace
1
Directions
Vernor Street to Auburn Street
Standard status
Active
APN
835826
Size
2,288 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8657
Amenities
deck
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty
(617) 969-9000
Listed By:
Keller Williams
(617) 969-9000
Added: Aug 5
Changed: Aug 8
Last Checked: Aug 8 at 11:06PM
MLS# 73559239
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.
This renovated duplex contains 2,288 square feet of finished living space arranged as two independent residences, each with two bedrooms and one bathroom. Both units feature hardwood flooring, generous room sizes, and updated finishes. The property was built in 1920 and includes a fireplace, a detached two-car garage, and a second-floor covered deck. Landscaped front, side, and rear outdoor areas complement the dwelling, while the unfinished basement provides additional storage.
The 0.1759-acre property is located at 10-12 Auburn St in Waltham, near Main Street and Walgreens, with shopping, restaurants, and daily conveniences nearby. I-95 is readily accessible. The duplex structure supports owner occupancy of one residence with separate use of the other, full rental operation, or continued retention of both garage spaces and the backyard.
The 0.1759-acre property is located at 10-12 Auburn St in Waltham, near Main Street and Walgreens, with shopping, restaurants, and daily conveniences nearby. I-95 is readily accessible. The duplex structure supports owner occupancy of one residence with separate use of the other, full rental operation, or continued retention of both garage spaces and the backyard.
Key Highlights
- 2,288 square feet of finished living space across two residences
- Each unit offers 2 bedrooms and 1 bathroom
- Renovated duplex originally built in 1920
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
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
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 residences share a detached garage, covered deck, landscaped grounds, and unfinished basement storage.
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: 2,288 square feet of finished living space across two residences; Each unit offers 2 bedrooms and 1 bathroom; Renovated duplex originally built in 1920
