Two-Family Duplex with Flexible
New
For Sale
$1,099,000
118-120 Prescott Street, Reading, MA 01867
Two separate residences offer multi-generational living, owner occupancy, or supplemental rental income potential.
Property Size3,534 SF
Days on Market5
Property Features for 118-120 Prescott Street
General Information
Standard status
Active
Size
3,534 SF
Total Parking Spaces
5
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,023
Amenities
deck
Building Details
Building Size
3,534 SF
Year Built
1916
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
Listed By:
Sumi Sinnatamby · License #448500443
(781) 249-7889
Source:
Classifiedrealtygroup
Added: Sep 19
Changed: Sep 22
Last Checked: Sep 22 at 6:10PM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
Investment Insights
Based on property information with market context.
This 3,534-square-foot duplex, built in 1916, includes two distinct residences with spacious room layouts. The first unit has a living room, dining room, study, kitchen, two bedrooms, and 1.5 baths. The second includes living and dining rooms, a study, sunroom, three bedrooms, and two baths. Hardwood floors, ample closets, a full unfinished basement, attic storage, vinyl siding, a deck, and a level backyard add to the property’s functional features.
The property also provides off-street parking and convenient access to Reading’s train and bus services, I-93, and I-128. Schools, the library, and the town center are readily accessible from the home. The two-unit configuration supports a range of occupancy arrangements, including multigenerational use, living in one unit while renting the other, or holding both residences as an income property.
The property also provides off-street parking and convenient access to Reading’s train and bus services, I-93, and I-128. Schools, the library, and the town center are readily accessible from the home. The two-unit configuration supports a range of occupancy arrangements, including multigenerational use, living in one unit while renting the other, or holding both residences as an income property.
Key Highlights
- Two‑family duplex with 3,534 SF of total property size
- Unit 1 includes 2 bedrooms and 1.5 baths
- Unit 2 offers 3 bedrooms and 2 baths
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
$74,781
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
6.80%
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%
$1,495,620
$1.5M
Cap Rate 7%
$1,068,300
$1.1M
Cap Rate 9%
$830,900
$830.9K
Market Conditions
NOI Build-Up for 3,534 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
$112.4K $31.80/SF
− Vacancy
−$5.6K −$1.57/SF
EGI
$106.8K $30.23/SF
− OpEx
−$32.0K −$9.07/SF
NOI
$74.8K $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%
$1,495,620
Cap Rate 7%
$1,068,300
Cap Rate 9%
$830,900
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$934.8K – $1.25M
NOI $74,781 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$1.00M
$878.9K – $1.17M
NOI $70,315 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,448 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
Explore this area
Business Placement
Demographics for 01867, MA
25,522
Population
9,895
Households
2.6
Avg Household Size
43
Median Age
65%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
2,552
Density / Sq Mi
$163,407
Median Household Income
$85,600
Median Earnings
$1,722
Median Rent
$741,100
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 - Two separate residences offer multi-generational living, owner occupancy, or supplemental rental income potential.
Where is this duplex located?
The property is located at 118-120 Prescott Street Reading, MA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Two‑family duplex with 3,534 SF of total property size; Unit 1 includes 2 bedrooms and 1.5 baths; Unit 2 offers 3 bedrooms and 2 baths
