Two-Unit Duplex with Driveway
For Sale
$989,000
115 Beech Street, Belmont, MA 02478
Belmont duplex with distinct unit layouts, rear porches, backyard amenities, and finished areas for storage or work space.
Property Size2,400 SF
Price / SF$412.08
Days on Market97
Property Features for 115 Beech Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
private rear porches
garden and patio
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Coldwell Banker Realty - Cambridge
Listed By:
Kim Walker Chin
(617) 262-6200
Source:
Cabotandcompany
Added: May 26
Changed: Aug 29
Last Checked: Jun 4 at 12:37PM
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 - Cambridge
Investment Insights
Based on property information with market context.
This 2,400-square-foot duplex, built in 1915, contains two separate residences with a practical bedroom mix. The first unit includes two bedrooms, an eat-in kitchen, living room, dining room, and full bathroom. The second offers three bedrooms, including one with front-deck access, along with an eat-in kitchen, living room, dining room, and full bathroom. Each residence has a private rear porch, while the property also includes a backyard with a garden and patio. Stained-glass details, hardwood flooring, and bright interior spaces add character throughout. Basement space provides room for an office, hobbies, and storage.
The property includes driveway parking and is situated near Cushing Square, Waverley Square, Belmont Center, Watertown, and Harvard Square. Additional nearby destinations listed for the property include commuter rail, Whole Foods, Trader Joe's, Star Market, Pequossette Playground, Town Field, Beaver Brook Reservation, and Fresh Pond.
The property includes driveway parking and is situated near Cushing Square, Waverley Square, Belmont Center, Watertown, and Harvard Square. Additional nearby destinations listed for the property include commuter rail, Whole Foods, Trader Joe's, Star Market, Pequossette Playground, Town Field, Beaver Brook Reservation, and Fresh Pond.
Key Highlights
- 2,400 SF duplex built in 1915
- Two‑bedroom and three‑bedroom unit configuration
- Private rear porch for each unit
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
$50,785
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
5.13%
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%
$1,015,700
$1.0M
Cap Rate 7%
$725,500
$725.5K
Cap Rate 9%
$564,278
$564.3K
Market Conditions
NOI Build-Up for 2,400 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
$76.3K $31.80/SF
− Vacancy
−$3.8K −$1.57/SF
EGI
$72.5K $30.23/SF
− OpEx
−$21.8K −$9.07/SF
NOI
$50.8K $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%
$1,015,700
Cap Rate 7%
$725,500
Cap Rate 9%
$564,278
Alternative Uses
Best Use
Multifamily LT 5
$725.5K
$634.8K – $846.4K
NOI $50,785 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$682.2K
$596.9K – $795.9K
NOI $47,752 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,455 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
881
Businesses Nearby
Explore this area
Business Placement
Demographics for 02478, MA
27,286
Population
10,811
Households
2.5
Avg Household Size
42
Median Age
80%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
5,932
Density / Sq Mi
$177,790
Median Household Income
$95,206
Median Earnings
$2,382
Median Rent
$1,108,800
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?
Duplex - Belmont duplex with distinct unit layouts, rear porches, backyard amenities, and finished areas for storage or work space.
Where is this duplex located?
The property is located at 115 Beech Street Belmont, MA.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: 2,400 SF duplex built in 1915; Two‑bedroom and three‑bedroom unit configuration; Private rear porch for each unit
