Two-Family Duplex with Bonus Living
For Sale
$1,250,000
Pending
16 Felton St, Woburn, MA 01801
Two residential units offer adaptable living arrangements with an additional bonus area for expanded household or rental use.
Property Size3,584 SF
Days on Market131
Property Features for 16 Felton St
General Information
Standard status
Pending
Size
3,584 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,911
Building Details
Building Size
3,584 SF
Year Built
1920
Stories
9
Units
3
Listing Agency:
(617) 842-2088
Listed By:
Veronica Lujan
(617) 842-2088
Source:
Elliman
Added: Apr 24
Changed: Aug 31
Last Checked: Aug 31 at 5:59PM
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 Veronica Lujan
Investment Insights
Based on property information with market context.
This two-family duplex provides two residential units along with an additional bonus living area. The property dates to 1920 and offers a flexible configuration that can accommodate separate households, multigenerational living, or an owner-occupant arrangement with rental income. The extra living space adds another layer of usability within the existing improvements.
Located at 16 Felton St in Woburn, the property offers access to I-93 and Route 128, with Boston and Cambridge nearby. Walk Score is 90, indicating a very walkable setting; Bike Score is 46, and Transit Score is 28. The surrounding area is also associated with technology, medical, and biotech employment sectors.
Located at 16 Felton St in Woburn, the property offers access to I-93 and Route 128, with Boston and Cambridge nearby. Walk Score is 90, indicating a very walkable setting; Bike Score is 46, and Transit Score is 28. The surrounding area is also associated with technology, medical, and biotech employment sectors.
Key Highlights
- Two‑family duplex with two residential units
- Additional bonus living area
- Built in 1920
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
$75,839
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
6.07%
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%
$1,516,780
$1.5M
Cap Rate 7%
$1,083,414
$1.1M
Cap Rate 9%
$842,656
$842.7K
Market Conditions
NOI Build-Up for 3,584 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
$114.0K $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%
$1,516,780
Cap Rate 7%
$1,083,414
Cap Rate 9%
$842,656
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$948.0K – $1.26M
NOI $75,839 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$1.02M
$891.4K – $1.19M
NOI $71,310 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,520 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
710
Businesses Nearby
Explore this area
Business Placement
Demographics for 01801, MA
40,891
Population
16,982
Households
2.4
Avg Household Size
41
Median Age
47%
College-Educated
94%
High-School Grad
12.7 sq mi
ZIP Area
3,220
Density / Sq Mi
$107,754
Median Household Income
$60,637
Median Earnings
$2,190
Median Rent
$641,800
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 residential units offer adaptable living arrangements with an additional bonus area for expanded household or rental use.
Where is this duplex located?
The property is located at 16 Felton St Woburn, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two‑family duplex with two residential units; Additional bonus living area; Built in 1920
