Renovated Multi-Family
For Sale
$1,194,000
136 Commonwealth Rd, Wayland, MA 01778
Multi-family residence with renovated units on a large lot.
Property Size3,300 SF
Lot Size0.50 Acres
Days on Market265
Property Features for 136 Commonwealth Rd
General Information
Standard status
Active
Size
3,300 SF
Lot size
0.50 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$11,776
Building Details
Building Size
3,300 SF
Year Built
1849
Stories
4
Units
2
Listing Agency:
Coldwell Banker Realty - Wellesley
(978) 902-5646
Listed By:
John McHugh Real Estate Group
(978) 902-5646
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 9
Last Checked: Aug 20 at 11:46AM
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 - Wellesley
Investment Insights
Based on property information with market context.
Located in Wayland, Massachusetts, 136 Commonwealth Road is a multi-family residence situated on a 0.5-acre lot. The property features two units and offers 5000 square feet of living area. The residence has been fully renovated and includes two full bathrooms. Both units are currently occupied by tenants at will, making this an income-generating property and an investment opportunity.
Key Highlights
- Fully renovated two‑family home offering a blend of classic charm and modern features.
- Income‑generating multi‑family property representing an ideal investment opportunity.
- Expansive 5000 square feet of living area provides ample space.
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
$69,829
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
5.85%
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%
$1,396,580
$1.4M
Cap Rate 7%
$997,557
$997.6K
Cap Rate 9%
$775,878
$775.9K
Market Conditions
NOI Build-Up for 3,300 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
$104.9K $31.80/SF
− Vacancy
−$5.2K −$1.57/SF
EGI
$99.8K $30.23/SF
− OpEx
−$29.9K −$9.07/SF
NOI
$69.8K $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%
$1,396,580
Cap Rate 7%
$997,557
Cap Rate 9%
$775,878
Alternative Uses
Best Use
Multifamily LT 5
$997.6K
$872.9K – $1.16M
NOI $69,829 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$938.0K
$820.7K – $1.09M
NOI $65,659 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,751 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Explore this area
Business Placement
Demographics for 01778, MA
14,132
Population
5,136
Households
2.8
Avg Household Size
45
Median Age
78%
College-Educated
98%
High-School Grad
15.0 sq mi
ZIP Area
942
Density / Sq Mi
$219,531
Median Household Income
$106,935
Median Earnings
$1,403
Median Rent
$935,700
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 - Multi-family residence with renovated units on a large lot.
Where is this duplex located?
The property is located at 136 Commonwealth Rd Wayland, MA.
What is the asking price?
The asking price for this property is $1,194,000.
What are key features of this property?
This property features: Fully renovated two‑family home offering a blend of classic charm and modern features.; Income‑generating multi‑family property representing an ideal investment opportunity.; Expansive 5000 square feet of living area provides ample space.
