Value-Add Multifamily with Approved
For Sale
$1,295,000
16-20 Winter Street, Newton, MA 02464
Two-family on MR1 zoning with plans and permit set to redevelop into three units.
Property Size2,208 SF
Lot Size0.26 Acres
Price / SF$586.50
Days on Market169
Property Features for 16-20 Winter Street
General Information
Standard status
Active
Size
2,208 SF
Total Parking Spaces
6
Lot size
0.26 Acres
Property subtype
Multi-Family
Zoning
MR1
Net Operating Income
$30,000
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,919
Building Details
Building Size
2,208 SF
Year Built
1845
Stories
4
Listing Agency:
Centre Realty Group
(617) 739-7000
Listed By:
Schyler Oliveira
(774) 271-0976
Source:
Churchillprop
Added: May 6
Changed: Oct 6
Last Checked: Oct 20 at 6:46PM
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 Centre Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering features an existing two-family residence on an 11,500+ SF lot, presented as a value-add opportunity in Newton. The seller has provided full architectural plans and a permit set in place for redevelopment, with proposed designs to expand total living area from approximately 4,600 SF to over 7,300 SF. The planned redevelopment includes a three-unit configuration with optimized floor plans and increased density potential.
The property is zoned MR1, and the sale is being conducted “AS IS,” with plans and permits included. Supporting documents are available as part of the offering. Buyers should perform their own due diligence regarding permitting status and approvals.
The property is zoned MR1, and the sale is being conducted “AS IS,” with plans and permits included. Supporting documents are available as part of the offering. Buyers should perform their own due diligence regarding permitting status and approvals.
Key Highlights
- Two‑family home on MR1 zoning on an 11,500+ SF lot
- Year built: 1845
- Redevelopment plans and permit set included, sold "as is"
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,722
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$934,440
$934.4K
Cap Rate 7%
$667,457
$667.5K
Cap Rate 9%
$519,133
$519.1K
Market Conditions
NOI Build-Up for 2,208 SF
Gross rent
$70.2K $31.80/SF
− Vacancy
−$3.5K −$1.57/SF
EGI
$66.7K $30.23/SF
− OpEx
−$20.0K −$9.07/SF
NOI
$46.7K $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 Rate 5%
$934,440
Cap Rate 7%
$667,457
Cap Rate 9%
$519,133
Alternative Uses
Best Use
Multifamily LT 5
$667.5K
$584.0K – $778.7K
NOI $46,722 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$627.6K
$549.2K – $732.2K
NOI $43,932 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,499 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,571
Businesses Nearby
Explore this area
Business Placement
Demographics for 02464, MA
3,193
Population
1,503
Households
2.1
Avg Household Size
42
Median Age
72%
College-Educated
97%
High-School Grad
0.6 sq mi
ZIP Area
5,322
Density / Sq Mi
$125,846
Median Household Income
$65,693
Median Earnings
$2,407
Median Rent
$899,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family on MR1 zoning with plans and permit set to redevelop into three units.
Where is this duplex located?
The property is located at 16-20 Winter Street Newton, MA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Two‑family home on MR1 zoning on an 11,500+ SF lot; Year built: 1845; Redevelopment plans and permit set included, sold "as is"
