Parkside Duplex with
New
For Sale
$1,495,000
166-168 East Side Parkway, Newton, MA 02458
Brick two-family property with renovated kitchens and baths, private sunrooms, garage parking, and direct access to Cabot Park.
Property Size2,810 SF
Price / SF$532.03
Days on Market7
Property Features for 166-168 East Side Parkway
General Information
Standard status
Active
Size
2,810 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1927
Buildings
1
Construction
brick
Listing Agency:
Preservation Properties
Listed By:
Ed Lyon
(617) 680-0690
Source:
Inrealtyinc
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 12 at 4:07AM
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 Preservation Properties
Investment Insights
Based on property information with market context.
Located at 166-168 East Side Parkway in Newton, this brick duplex was built in 1927 and offers two separate residential units with substantial updates. Improvements include 93.3% high-efficiency Navien boilers with on-demand hot water for each unit, Harvey replacement windows, upgraded 200-amp electrical service, two renovated bathrooms, one renovated kitchen, and a rear sunroom for each residence.
The second-floor unit includes a kitchen with quartz countertops, stainless steel appliances, extensive cabinetry, and southern exposure. Its sunroom has a ductless mini-split for heat and air conditioning, while the third bedroom can also function as a home office. The first-floor unit features a newer step-in shower and a rear family room with abundant windows.
The property includes a two-car garage, additional driveway parking, and rear yard space. Cabot Park is directly across the street, with more than 11 acres of recreation including tennis, basketball, soccer, football, baseball, playgrounds, and a fenced off-leash dog area. Newtonville Square, commuter rail, express bus service, Whole Foods, Trader Joe’s, and the Mass Pike are also nearby.
The second-floor unit includes a kitchen with quartz countertops, stainless steel appliances, extensive cabinetry, and southern exposure. Its sunroom has a ductless mini-split for heat and air conditioning, while the third bedroom can also function as a home office. The first-floor unit features a newer step-in shower and a rear family room with abundant windows.
The property includes a two-car garage, additional driveway parking, and rear yard space. Cabot Park is directly across the street, with more than 11 acres of recreation including tennis, basketball, soccer, football, baseball, playgrounds, and a fenced off-leash dog area. Newtonville Square, commuter rail, express bus service, Whole Foods, Trader Joe’s, and the Mass Pike are also nearby.
Key Highlights
- Two‑family brick property built in 1927
- Two rear sunrooms, including one with ductless mini‑split heat and A/C
- 93.3% high‑efficiency Navien boilers with on‑demand hot water for each unit
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
$59,461
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
3.98%
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%
$1,189,220
$1.2M
Cap Rate 7%
$849,443
$849.4K
Cap Rate 9%
$660,678
$660.7K
Market Conditions
NOI Build-Up for 2,810 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
$89.4K $31.80/SF
− Vacancy
−$4.4K −$1.57/SF
EGI
$84.9K $30.23/SF
− OpEx
−$25.5K −$9.07/SF
NOI
$59.5K $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%
$1,189,220
Cap Rate 7%
$849,443
Cap Rate 9%
$660,678
Alternative Uses
Best Use
Multifamily LT 5
$849.4K
$743.3K – $991.0K
NOI $59,461 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$798.7K
$698.9K – $931.8K
NOI $55,910 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$1.66M
$1.46M – $1.94M
NOI $116,446 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,548
Businesses Nearby
Explore this area
Business Placement
Demographics for 02458, MA
12,817
Population
5,238
Households
2.4
Avg Household Size
40
Median Age
76%
College-Educated
97%
High-School Grad
2.0 sq mi
ZIP Area
6,409
Density / Sq Mi
$151,782
Median Household Income
$72,008
Median Earnings
$2,313
Median Rent
$1,116,600
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 - Brick two-family property with renovated kitchens and baths, private sunrooms, garage parking, and direct access to Cabot Park.
Where is this duplex located?
The property is located at 166-168 East Side Parkway Newton, MA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Two‑family brick property built in 1927; Two rear sunrooms, including one with ductless mini‑split heat and A/C; 93.3% high‑efficiency Navien boilers with on‑demand hot water for each unit
