Renovated Two-Unit
For Sale
$2,839,000
15 Foster Street, Arlington, MA 02474
Fully renovated two-residence property with private outdoor areas and flexible finished lower-level space.
Property Size4,648 SF
Price / SF$610.80
Days on Market9
Property Features for 15 Foster Street
General Information
Standard status
Active
Size
4,648 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$99,999,999
Building Details
Year Built
1921
Listing Agency:
Coldwell Banker Realty - Boston
(781) 933-2500
Listed By:
Shaundize Moosavizadeh
Source:
Kiklisre
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 24 at 9:32AM
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 - Boston
Investment Insights
Based on property information with market context.
This 4,648-square-foot duplex, built in 1921, has been fully renovated with two residences, each offering 4 bedrooms, 2 full bathrooms, 2 half bathrooms, and four finished levels. Main-level layouts include foyers, powder rooms, custom kitchens with stone countertops and induction cooktops, plus open living and dining areas. Upper floors provide three additional bedrooms, walk-in closets, and full bathrooms with double vanities. Each residence also includes a top-floor primary suite with an en-suite bathroom, walk-in closet, and private roof deck, along with finished lower-level space suitable for a family room, home office, gym, or playroom.
The property is located at 15 Foster Street in Arlington, less than half a mile from downtown restaurants, cafés, shops, and a bike path. Both residences include private outdoor space, adding flexibility to the multi-unit configuration.
The property is located at 15 Foster Street in Arlington, less than half a mile from downtown restaurants, cafés, shops, and a bike path. Both residences include private outdoor space, adding flexibility to the multi-unit configuration.
Key Highlights
- Two‑unit duplex totaling 4,648 square feet
- Each residence includes 4 bedrooms, 2 full bathrooms, and 2 half bathrooms
- Four finished levels in each residence
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
$98,353
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
3.46%
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%
$1,967,060
$2.0M
Cap Rate 7%
$1,405,043
$1.4M
Cap Rate 9%
$1,092,811
$1.1M
Market Conditions
NOI Build-Up for 4,648 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
$147.8K $31.80/SF
− Vacancy
−$7.3K −$1.57/SF
EGI
$140.5K $30.23/SF
− OpEx
−$42.2K −$9.07/SF
NOI
$98.4K $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%
$1,967,060
Cap Rate 7%
$1,405,043
Cap Rate 9%
$1,092,811
Alternative Uses
Best Use
Multifamily LT 5
$1.41M
$1.23M – $1.64M
NOI $98,353 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,480 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,612 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,588
Businesses Nearby
Explore this area
Business Placement
Demographics for 02474, MA
28,551
Population
12,541
Households
2.3
Avg Household Size
40
Median Age
74%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
9,210
Density / Sq Mi
$139,199
Median Household Income
$80,498
Median Earnings
$2,157
Median Rent
$887,000
Median Home Value
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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 - Fully renovated two-residence property with private outdoor areas and flexible finished lower-level space.
Where is this duplex located?
The property is located at 15 Foster Street Arlington, MA.
What is the asking price?
The asking price for this property is $2,839,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 4,648 square feet; Each residence includes 4 bedrooms, 2 full bathrooms, and 2 half bathrooms; Four finished levels in each residence
