Two-Family Home with In-Unit
For Sale
$1,695,000
16-18 Alfred Road, Arlington, MA 02474
Two-unit duplex with remodeled upper layout, refreshed first-floor unit, and in-unit laundry for both apartments.
Property Size3,582 SF
Price / SF$473.20
Days on Market49
Property Features for 16-18 Alfred Road
General Information
Standard status
Active
Size
3,582 SF
Property subtype
Multi-family
Amenities
in-unit laundry
exposed brick accents
updated bathroom
owned solar panels
new roof
new gutters
full insulation
soundproofing
landscaped yard
native plantings
Building Details
Year Built
1923
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Easton
Listed By:
Catherine Walsh · License #9580272
(508) 328-6563
Source:
Benoitrealestate
Added: Jul 23
Changed: Sep 8
Last Checked: Sep 8 at 4:37AM
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 - Easton
Investment Insights
Based on property information with market context.
This two-family duplex includes an upper unit that spans two levels and has been extensively remodeled with attention to detail. The upgrades include enhanced soundproofing and in-unit laundry, along with energy efficiency improvements such as full insulation.
The first-floor unit has been refreshed and features exposed brick accents, an updated bathroom, and in-unit laundry. Additional investments throughout the property include soundproofing and comfort-focused improvements. Owned solar panels help offset electric costs, and a new roof system with architectural shingles and new gutters have been installed. Outside, the property is landscaped with native plantings designed for an inviting, low-maintenance setting.
The home is described as located near Mass Ave, the Minuteman Bike Path, Alewife Station, and Spy Pond, supporting everyday convenience for residents.
The first-floor unit has been refreshed and features exposed brick accents, an updated bathroom, and in-unit laundry. Additional investments throughout the property include soundproofing and comfort-focused improvements. Owned solar panels help offset electric costs, and a new roof system with architectural shingles and new gutters have been installed. Outside, the property is landscaped with native plantings designed for an inviting, low-maintenance setting.
The home is described as located near Mass Ave, the Minuteman Bike Path, Alewife Station, and Spy Pond, supporting everyday convenience for residents.
Key Highlights
- Two‑family duplex with 1923 build year in East Arlington
- Upper unit spans two levels and has been extensively remodeled with in‑unit laundry
- First‑floor unit refreshed with updated bathroom and in‑unit laundry
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
$75,796
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
4.47%
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%
$1,515,920
$1.5M
Cap Rate 7%
$1,082,800
$1.1M
Cap Rate 9%
$842,178
$842.2K
Market Conditions
NOI Build-Up for 3,582 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
$113.9K $31.80/SF
− Vacancy
−$5.6K −$1.57/SF
EGI
$108.3K $30.23/SF
− OpEx
−$32.5K −$9.07/SF
NOI
$75.8K $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%
$1,515,920
Cap Rate 7%
$1,082,800
Cap Rate 9%
$842,178
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$947.5K – $1.26M
NOI $75,796 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$1.02M
$890.9K – $1.19M
NOI $71,270 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$2.12M
$1.86M – $2.47M
NOI $148,437 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
784
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
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 duplex with remodeled upper layout, refreshed first-floor unit, and in-unit laundry for both apartments.
Where is this duplex located?
The property is located at 16-18 Alfred Road Arlington, MA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Two‑family duplex with 1923 build year in East Arlington; Upper unit spans two levels and has been extensively remodeled with in‑unit laundry; First‑floor unit refreshed with updated bathroom and in‑unit laundry
