Two-Family Property with Private
For Sale
$850,000
167-169 Walker Road, Swampscott, MA 01907
Two residential units offer garage parking, a large yard, and proximity to the beach, shops, and restaurants.
Property Size2,692 SF
Price / SF$315.75
Days on Market159
Property Features for 167-169 Walker Road
General Information
Standard status
Active
Size
2,692 SF
Total Parking Spaces
4
Property subtype
Multi-family / 2 Family
Zoning
A-2
Net Operating Income
$28,800
Property Condition
Severity
Repairs Needed
Evidence
needs some work
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,364
Amenities
garage parking
yard
No
Wood, Hardwood
Range, Dishwasher, Disposal, Refrigerator, Washer, Dryer
2
Yes
2.0
Full
Wood Burning
Bathroom With Tub, Stone/Granite/Solid Counters, Living Room, Dining Room, Kitchen, Loft
2.00
Shingle
Wooded
Ocean, 3/10 to 1/2 Mile To Beach
Building Details
Year Built
1935
Buildings
1
Listing Agency:
Gibson Sotheby's International Realty
(781) 648-3500
Listed By:
The Pallotta Group
(781) 648-3500
Source:
Compass
Added: Mar 26
Changed: Aug 30
Last Checked: Aug 30 at 5:44PM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This two-family property contains 2,692 square feet within a 1935-built residence in the Frederick Law Olmsted Historic District. Each unit has three bedrooms. The first unit provides access to the expansive yard and has a long-term TAW, while the second has been renovated with a gourmet kitchen, wood-burning fireplace, cedar-lined closets, and a private deck. The property also includes two full bathrooms, garage parking, a newer roof, and hardwood and wood flooring.
Located in Swampscott, the property is 3/10 to 1/2 mile from the beach and near restaurants and shops. Zoning is A-2, and condo documents are in place should a conversion be desired.
Located in Swampscott, the property is 3/10 to 1/2 mile from the beach and near restaurants and shops. Zoning is A-2, and condo documents are in place should a conversion be desired.
Key Highlights
- Two‑family property with 2,692 square feet and two three‑bedroom units
- 1935‑built residence in the Frederick Law Olmsted Historic District
- Renovated second unit with gourmet kitchen, wood‑burning fireplace, cedar‑lined closets, and private deck
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
$45,350
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
5.34%
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%
$907,000
$907.0K
Cap Rate 7%
$647,857
$647.9K
Cap Rate 9%
$503,889
$503.9K
Market Conditions
NOI Build-Up for 2,692 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
$67.8K $25.20/SF
− Vacancy
−$3.1K −$1.13/SF
EGI
$64.8K $24.07/SF
− OpEx
−$19.4K −$7.22/SF
NOI
$45.3K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /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%
$907,000
Cap Rate 7%
$647,857
Cap Rate 9%
$503,889
Alternative Uses
Best Use
Multifamily LT 5
$647.9K
$566.9K – $755.8K
NOI $45,350 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$584.8K
$511.7K – $682.3K
NOI $40,936 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,556 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Explore this area
Business Placement
Demographics for 01907, MA
15,148
Population
6,666
Households
2.3
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
3.0 sq mi
ZIP Area
5,049
Density / Sq Mi
$127,714
Median Household Income
$70,837
Median Earnings
$2,206
Median Rent
$690,800
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 garage parking, a large yard, and proximity to the beach, shops, and restaurants.
Where is this duplex located?
The property is located at 167-169 Walker Road Swampscott, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑family property with 2,692 square feet and two three‑bedroom units; 1935‑built residence in the Frederick Law Olmsted Historic District; Renovated second unit with gourmet kitchen, wood‑burning fireplace, cedar‑lined closets, and private deck
