Waltham Investment Property with Expansion
For Sale
$799,000
11 Derby Street, Waltham, MA 02453
Income-producing property in Waltham with redevelopment and expansion possibilities.
Property Size1,901 SF
Price / SF$420.31
Days on Market306
Property Features for 11 Derby Street
General Information
Standard status
Active
Size
1,901 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
RB
Taxes and HOA fees
Annual Taxes
$8,033
Building Details
Building Size
1,901 SF
Year Built
1900
Stories
3
Listing Agency:
Coldwell Banker Realty - Waltham
(781) 893-0808
Listed By:
Lisa Lyons
(617) 974-8538
Source:
Churchillprop
Added: Dec 3, 2025
Changed: Oct 1
Last Checked: Oct 4 at 8:11AM
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 property presents a builder and investor opportunity in the desirable South Side of Waltham. Currently configured as an income-producing investment property, it features two large 1-bedroom units. The property is located in an RB zoning district, offering Old Lot Opinion flexibility. This allows for a 1647 sq ft buildable footprint and reduced side-yard setback requirements, according to town guidelines. The existing two-family structure has potential for redevelopment, condo conversion, or expansion, including the possibility of an accessory dwelling unit (ADU), all subject to municipal approvals. The location is considered very bikeable with a bike score of 75 and a walker's paradise with a walk score of 90. Transit options are available, indicated by a transit score of 43.
Key Highlights
- Prime redevelopment opportunity in Waltham's desirable South Side.
- RB zoning with Old Lot Opinion flexibility allows for a 1647 sq ft buildable footprint.
- Expansion potential, including possible accessory dwelling unit (ADU), subject to approvals.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,226
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$804,520
$804.5K
Cap Rate 7%
$574,657
$574.7K
Cap Rate 9%
$446,956
$447.0K
Market Conditions
NOI Build-Up for 1,901 SF
Gross rent
$60.5K $31.80/SF
− Vacancy
−$3.0K −$1.57/SF
EGI
$57.5K $30.23/SF
− OpEx
−$17.2K −$9.07/SF
NOI
$40.2K $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 Rate 5%
$804,520
Cap Rate 7%
$574,657
Cap Rate 9%
$446,956
Alternative Uses
Best Use
Multifamily LT 5
$574.7K
$502.8K – $670.4K
NOI $40,226 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$540.3K
$472.8K – $630.4K
NOI $37,823 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$1.13M
$984.7K – $1.31M
NOI $78,777 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,020
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing property in Waltham with redevelopment and expansion possibilities.
Where is this duplex located?
The property is located at 11 Derby Street Waltham, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime redevelopment opportunity in Waltham's desirable South Side.; RB zoning with Old Lot Opinion flexibility allows for a **1647 sq ft buildable footprint**.; Expansion potential, including possible accessory dwelling unit (ADU), subject to approvals.
