Renovated Duplex with Separate
For Sale
$2,049,900
156-158 Waverley St, Belmont, MA 02478
Updated two-family property with private outdoor areas, in-unit laundry, and side-by-side parking.
Property Size3,407 SF
Price / SF$601.67
Days on Market103
Property Features for 156-158 Waverley St
General Information
Standard status
Active
Size
3,407 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
R
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,249
Amenities
in-unit laundry
private entrances
outdoor spaces
Building Details
Building Size
3,407 SF
Year Built
1900
Stories
2
Listing Agency:
Coldwell Banker Realty - Boston
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 20
Changed: Aug 29
Last Checked: Aug 29 at 5:52PM
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 3,407-square-foot duplex in Belmont was built in 1900 and has undergone extensive renovation. Improvements include new windows, heating and cooling systems, plumbing, and electrical service. Each residence has a private entrance, separate utilities, outdoor space, in-unit laundry, and a primary suite with ample closets. Kitchens feature quartz countertops, tile backsplashes, and stainless steel LG appliances, while the bathrooms have been updated with spa-inspired finishes. Two partially finished, heated basement areas provide additional flexible space.
The property is located near Town Field with access to buses, parks, and recreation. Shops and dining are available in Belmont Center and Waverley Squares. Side-by-side parking is included, and the property offers rental potential. Zoning is R.
The property is located near Town Field with access to buses, parks, and recreation. Shops and dining are available in Belmont Center and Waverley Squares. Side-by-side parking is included, and the property offers rental potential. Zoning is R.
Key Highlights
- 3,407‑square‑foot duplex in Belmont
- Extensive renovation includes windows, heating and cooling, plumbing, and electrical systems
- Two private entrances with separate utilities and outdoor spaces
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
$72,093
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
3.52%
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%
$1,441,860
$1.4M
Cap Rate 7%
$1,029,900
$1.0M
Cap Rate 9%
$801,033
$801.0K
Market Conditions
NOI Build-Up for 3,407 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
$108.3K $31.80/SF
− Vacancy
−$5.4K −$1.57/SF
EGI
$103.0K $30.23/SF
− OpEx
−$30.9K −$9.07/SF
NOI
$72.1K $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%
$1,441,860
Cap Rate 7%
$1,029,900
Cap Rate 9%
$801,033
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$901.2K – $1.20M
NOI $72,093 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$968.4K
$847.4K – $1.13M
NOI $67,788 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$2.02M
$1.76M – $2.35M
NOI $141,185 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,207
Businesses Nearby
Explore this area
Business Placement
Demographics for 02478, MA
27,286
Population
10,811
Households
2.5
Avg Household Size
42
Median Age
80%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
5,932
Density / Sq Mi
$177,790
Median Household Income
$95,206
Median Earnings
$2,382
Median Rent
$1,108,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-family property with private outdoor areas, in-unit laundry, and side-by-side parking.
Where is this duplex located?
The property is located at 156-158 Waverley St Belmont, MA.
What is the asking price?
The asking price for this property is $2,049,900.
What are key features of this property?
This property features: 3,407‑square‑foot duplex in Belmont; Extensive renovation includes windows, heating and cooling, plumbing, and electrical systems; Two private entrances with separate utilities and outdoor spaces
