Updated Duplex with
For Sale
$849,900
137 Congress Avenue, Chelsea, MA 02150
Two-unit property with refreshed flooring, gas heat, fenced outdoor space, and covered parking.
Property Size2,184 SF
Price / SF$389.15
Days on Market162
Property Features for 137 Congress Avenue
General Information
Standard status
Active
Size
2,184 SF
Total Parking Spaces
5
Property subtype
Multi-family / 2 Family
Zoning
R3
Net Operating Income
$49,800
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,835
Amenities
fenced in yard
City/Town Sewer, Public, Circuit Breakers, for Gas Range
No
Wood, Vinyl
2.0
2
2.00
Building Details
Year Built
1900
Listing Agency:
Trinity Real Estate
Listed By:
Lisa M. Smallwood · License #9088124
(781) 231-9800
Source:
Compass
Added: Mar 25
Changed: Sep 2
Last Checked: Aug 30 at 1:39PM
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 Trinity Real Estate
Investment Insights
Based on property information with market context.
This 2,184-square-foot duplex, built in 1900, includes two separate residential units with distinct room and bedroom layouts. The first unit offers 4 rooms and 2 bedrooms, while the second provides 6 rooms and 3 bedrooms. Improvements include refinished wood flooring, Massport sound improvement windows, gas-converted heating systems, and cement-lined water heaters updated three years ago.
Outdoor features include a fenced yard, a two-car garage with a new garage door, and tandem parking for 3 to 4 additional vehicles. The property is zoned R3 and is located near Downtown Chelsea, with access to Boston through the Silver Line, Commuter Rail, and multiple bus routes. Katz Bagels, John’s Pizza, and other local dining options are within the surrounding area.
Outdoor features include a fenced yard, a two-car garage with a new garage door, and tandem parking for 3 to 4 additional vehicles. The property is zoned R3 and is located near Downtown Chelsea, with access to Boston through the Silver Line, Commuter Rail, and multiple bus routes. Katz Bagels, John’s Pizza, and other local dining options are within the surrounding area.
Key Highlights
- 2,184‑square‑foot duplex on a R3‑zoned parcel
- First unit has 4 rooms and 2 bedrooms; second unit has 6 rooms and 3 bedrooms
- Built in 1900 with refinished wood flooring on both levels
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
$41,608
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
4.90%
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%
$832,160
$832.2K
Cap Rate 7%
$594,400
$594.4K
Cap Rate 9%
$462,311
$462.3K
Market Conditions
NOI Build-Up for 2,184 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
$62.9K $28.80/SF
− Vacancy
−$3.5K −$1.58/SF
EGI
$59.4K $27.22/SF
− OpEx
−$17.8K −$8.16/SF
NOI
$41.6K $19.05/SF
Area
Suffolk County, MA
Vacancy
5.50%
Lease Rate
$28.80 /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%
$832,160
Cap Rate 7%
$594,400
Cap Rate 9%
$462,311
Alternative Uses
Best Use
Multifamily LT 5
$594.4K
$520.1K – $693.5K
NOI $41,608 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$542.0K
$474.2K – $632.3K
NOI $37,939 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,504 @ 7.0% cap · market cap 10.65%
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
1,945
Businesses Nearby
Explore this area
Business Placement
Demographics for 02150, MA
40,721
Population
14,162
Households
2.9
Avg Household Size
34
Median Age
22%
College-Educated
69%
High-School Grad
2.2 sq mi
ZIP Area
18,510
Density / Sq Mi
$72,122
Median Household Income
$41,046
Median Earnings
$1,861
Median Rent
$476,500
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-unit property with refreshed flooring, gas heat, fenced outdoor space, and covered parking.
Where is this duplex located?
The property is located at 137 Congress Avenue Chelsea, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 2,184‑square‑foot duplex on a R3‑zoned parcel; First unit has 4 rooms and 2 bedrooms; second unit has 6 rooms and 3 bedrooms; Built in 1900 with refinished wood flooring on both levels
