Renovated Two-Family in
For Sale
$1,599,999
101-103 Lexington St, Newton, MA 02466
Renovated 2021 two-family property in a fantastic Auburndale location.
Property Size3,006 SF
Lot Size0.17 Acres
Days on Market267
Property Features for 101-103 Lexington St
General Information
Standard status
Active
Size
3,006 SF
Lot size
0.17 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$13,863
Building Details
Building Size
3,006 SF
Year Built
1925
Stories
2
Units
2
Listing Agency:
Advantage Property Team LLC
(617) 684-5019
Listed By:
Nicholas Neu
(617) 684-5019
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 15
Last Checked: Aug 21 at 10:33AM
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 Advantage Property Team LLC
Investment Insights
Based on property information with market context.
This renovated two-family property, available in Auburndale, is situated near the Waltham/Newton line, offering proximity to major highways and Moody Street. The property features a 2019 roof and 2021 updates to the heating, instant hot water, central air, electrical, and plumbing systems. The first floor includes three bedrooms, a formal dining room, an eat-in kitchen with custom granite counters, white cabinetry, stainless steel Samsung appliances, and one and a half tiled bathrooms. The second floor features a ceramic tiled eat-in kitchen, custom quartz counters, white cabinetry with stainless steel Samsung appliances, two full tiled bathrooms, three bedrooms, a formal dining room, and a living room. Both units have hardwood floors, new Pella windows, and basement access for individual laundry and designated storage areas. Common areas feature lifeproof flooring and fire-rated carpet. The basement has high ceilings. The property is currently tenant-occupied at market rate rents, presenting a long-term investment opportunity or potential for condo conversion.
Key Highlights
- Fully renovated in 2021 with updated roof, heating, instant hot water, central air, electrical, and plumbing.
- Two‑family property in a fantastic location on the Waltham/Newton line, close to major highways and Moody Street.
- Both units feature updated kitchens with custom granite/quartz counters, white cabinetry, and stainless steel Samsung appliances.
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
$63,608
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
3.98%
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%
$1,272,160
$1.3M
Cap Rate 7%
$908,686
$908.7K
Cap Rate 9%
$706,756
$706.8K
Market Conditions
NOI Build-Up for 3,006 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
$95.6K $31.80/SF
− Vacancy
−$4.7K −$1.57/SF
EGI
$90.9K $30.23/SF
− OpEx
−$27.3K −$9.07/SF
NOI
$63.6K $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%
$1,272,160
Cap Rate 7%
$908,686
Cap Rate 9%
$706,756
Alternative Uses
Best Use
Multifamily LT 5
$908.7K
$795.1K – $1.06M
NOI $63,608 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$854.4K
$747.6K – $996.8K
NOI $59,809 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,568 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
Explore this area
Business Placement
Demographics for 02466, MA
8,434
Population
3,284
Households
2.6
Avg Household Size
37
Median Age
78%
College-Educated
95%
High-School Grad
1.6 sq mi
ZIP Area
5,271
Density / Sq Mi
$170,852
Median Household Income
$82,244
Median Earnings
$2,082
Median Rent
$1,164,900
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 - Renovated 2021 two-family property in a fantastic Auburndale location.
Where is this duplex located?
The property is located at 101-103 Lexington St Newton, MA.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Fully renovated in 2021 with updated roof, heating, instant hot water, central air, electrical, and plumbing.; Two‑family property in a fantastic location on the Waltham/Newton line, close to major highways and Moody Street.; Both units feature **updated kitchens with custom granite/quartz counters, white cabinetry, and stainless steel Samsung appliances.**
