Two-Unit Duplex with Flexible
22-24 Olney St, Watertown, MA 02472
For Sale
$2,075,000
Two separately purchasable residences provide a combined seven bedrooms and dedicated driveway parking.
Property Size3,600 SF
Price / SF$576.39
Days on Market49
Property Features for 22-24 Olney St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Amenities
Pool, Park, Golf
Zoned, Multi Units
Zoned
Full, Finished
Electric Water Heater
Paved, Off Street, Assigned
Building Details
Building Size
Year Built
Stories
Listed By:
Nicholas Mescia
(828) 507-1752
Source:
Evrealestate
Added: Sep 23
Changed: Oct 28
Last Checked: Nov 8 at 6:33AM
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 Nicholas Mescia
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Investment Insights
Based on property information with market context.
This 3,600-square-foot duplex at 22-24 Olney St contains two residences with a combined seven bedrooms and 4.5 baths. Built in 1890, the property has been renovated, with each home arranged across multiple levels and offering distinct living and sleeping areas. Unit 24 includes three bedrooms, a primary suite, a bonus area, and a large kitchen and dining space. Unit 22 has two upstairs bedrooms, a lower-level area suited to use as a bedroom suite or office, and a spacious laundry room.
A shared driveway provides three dedicated parking spaces. The residences may be purchased separately or together as a multifamily property.
A shared driveway provides three dedicated parking spaces. The residences may be purchased separately or together as a multifamily property.
Key Highlights
- 3,600 square feet across two residential units
- Combined total of 7 bedrooms and 4.5 baths
- Unit 24 spans three levels; Unit 22 spans two levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,177
Cap Rate
3.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,523,540
$1.5M
Cap Rate 7%
$1,088,243
$1.1M
Cap Rate 9%
$846,411
$846.4K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$114.5K $31.80/SF
− Vacancy
−$5.7K −$1.57/SF
EGI
$108.8K $30.23/SF
− OpEx
−$32.6K −$9.07/SF
NOI
$76.2K $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%
$1,523,540
Cap Rate 7%
$1,088,243
Cap Rate 9%
$846,411
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$952.2K – $1.27M
NOI $76,177 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$1.02M
$895.4K – $1.19M
NOI $71,628 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$2.13M
$1.86M – $2.49M
NOI $149,183 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,305
Businesses Nearby
Explore this area
Business Placement
Demographics for 02472, MA
35,392
Population
17,069
Households
2.1
Avg Household Size
39
Median Age
67%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
8,848
Density / Sq Mi
$123,383
Median Household Income
$77,537
Median Earnings
$2,356
Median Rent
$737,600
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Watertown, MA
Properties on Market for Duplexes in Watertown
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately purchasable residences provide a combined seven bedrooms and dedicated driveway parking.
Where is this duplex located?
The property is located at 22-24 Olney St Watertown, MA.
What is the asking price?
The asking price for this property is $2,075,000.
What are key features of this property?
This property features: 3,600 square feet across two residential units; Combined total of 7 bedrooms and 4.5 baths; Unit 24 spans three levels; Unit 22 spans two levels
