Triplex with Separate
For Sale
$1,095,000
102-104 Harvard Street, Waltham, MA 02453
Three-family property with flexible living space, updated windows, and on-site parking near everyday amenities.
Property Size2,972 SF
Price / SF$368.44
Days on Market95
Property Features for 102-104 Harvard Street
General Information
Standard status
Active
Size
2,972 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1880
Listing Agency:
Coldwell Banker Realty - Waltham
Listed By:
Hans Brings RESULTS
(978) 658-2345
Source:
Wilsonwolfe
Added: May 28
Changed: Aug 29
Last Checked: Jun 13 at 2:13AM
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 Coldwell Banker Realty - Waltham
Investment Insights
Based on property information with market context.
This 2,972-square-foot triplex, built in 1880, is configured as a three-family residence with separate utilities for each unit. One spacious side offers a townhouse-style arrangement with dual staircases, a living room, formal dining room, 3-4 bedrooms, and 1.5 baths. That space can serve an owner-occupant or extended household. Younger replacement windows contribute to the property’s updated functionality, while the semi-finished third floor provides additional space with potential for bedrooms or future expansion on either side.
Located at 102-104 Harvard Street in Waltham, the property includes parking and is near shopping, restaurants, parks, and major routes. The combination of flexible residential space, separate utilities, and a three-family layout supports both owner occupancy and rental use.
Located at 102-104 Harvard Street in Waltham, the property includes parking and is near shopping, restaurants, parks, and major routes. The combination of flexible residential space, separate utilities, and a three-family layout supports both owner occupancy and rental use.
Key Highlights
- Three‑family property with 2,972 square feet of building area
- Separate utilities serve each unit
- Townhouse‑style side includes 3‑4 bedrooms and 1.5 baths
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
$62,889
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
5.74%
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%
$1,257,780
$1.3M
Cap Rate 7%
$898,414
$898.4K
Cap Rate 9%
$698,767
$698.8K
Market Conditions
NOI Build-Up for 2,972 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
$94.5K $31.80/SF
− Vacancy
−$4.7K −$1.57/SF
EGI
$89.8K $30.23/SF
− OpEx
−$27.0K −$9.07/SF
NOI
$62.9K $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%
$1,257,780
Cap Rate 7%
$898,414
Cap Rate 9%
$698,767
Alternative Uses
Best Use
Multifamily LT 5
$898.4K
$786.1K – $1.05M
NOI $62,889 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$844.8K
$739.2K – $985.6K
NOI $59,133 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,159 @ 7.0% cap · market cap 11.25%
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
2,807
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family property with flexible living space, updated windows, and on-site parking near everyday amenities.
Where is this triplex located?
The property is located at 102-104 Harvard Street Waltham, MA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Three‑family property with 2,972 square feet of building area; Separate utilities serve each unit; Townhouse‑style side includes 3‑4 bedrooms and 1.5 baths
