Two-Unit Duplex with Separate
For Sale
$749,000
171 Lake St, Waltham, MA 02451
Residential Income, Waltham, MA
Property Size1,795 SF
Lot Size0.10 Acres
Price / SF$417.27
Days on Market52
Property Features for 171 Lake St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Bus-A
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 1
Parking
4
Directions
Corner of Lake St and Bowdoin Ave
Standard status
Active
APN
M:R022 B:0008 L:0012,828913
Size
1,795 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8110
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty
Listed By:
Keller Williams
(617) 969-9000
Added: Sep 8
Changed: Oct 29
Last Checked: Oct 29 at 2:06PM
MLS# 73571620
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Located at 171 Lake St in Waltham, this 1,795-square-foot duplex contains two residences with separate entrances and driveways. The larger unit includes hardwood flooring, a renovated eat-in kitchen, an updated bathroom, and split air-conditioning and heating units. The smaller residence also has hardwood floors, an eat-in kitchen, and its own bathroom.
The 0.1038-acre flat lot has frontage on both streets and is zoned Bus-A. The property was built in 1930 and offers access to Route 128/95 and bus 61. Lazazzero Playground, Hardy Pond, MacArthur Elementary School, and Waltham High School are among the nearby destinations identified for the property.
The 0.1038-acre flat lot has frontage on both streets and is zoned Bus-A. The property was built in 1930 and offers access to Route 128/95 and bus 61. Lazazzero Playground, Hardy Pond, MacArthur Elementary School, and Waltham High School are among the nearby destinations identified for the property.
Key Highlights
- 1,795‑square‑foot duplex with two residential units
- Separate entrances and driveways provide independent access
- Larger unit has renovated eat‑in kitchen and updated bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,983
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,660
$759.7K
Cap Rate 7%
$542,614
$542.6K
Cap Rate 9%
$422,033
$422.0K
Market Conditions
NOI Build-Up for 1,795 SF
Gross rent
$57.1K $31.80/SF
− Vacancy
−$2.8K −$1.57/SF
EGI
$54.3K $30.23/SF
− OpEx
−$16.3K −$9.07/SF
NOI
$38.0K $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%
$759,660
Cap Rate 7%
$542,614
Cap Rate 9%
$422,033
Alternative Uses
Best Use
Multifamily LT 5
$542.6K
$474.8K – $633.1K
NOI $37,983 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$510.2K
$446.4K – $595.2K
NOI $35,714 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$1.06M
$929.8K – $1.24M
NOI $74,384 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 02451, MA
17,953
Population
7,852
Households
2.3
Avg Household Size
39
Median Age
55%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
3,387
Density / Sq Mi
$119,509
Median Household Income
$66,318
Median Earnings
$2,537
Median Rent
$709,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer independent entrances, driveways, and updated interior features in a flexible duplex configuration.
Where is this duplex located?
The property is located at 171 Lake St Waltham, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 1,795‑square‑foot duplex with two residential units; Separate entrances and driveways provide independent access; Larger unit has renovated eat‑in kitchen and updated bathroom
