Townhouse-Style
For Sale
$995,000
23-25 Hoyle St, Norwood, MA 02062
Two townhouse-style units offer separate utilities, lower-level laundry hookups, and one recently renovated residence.
Property Size2,807 SF
Price / SF$354.47
Days on Market174
Property Features for 23-25 Hoyle St
General Information
Standard status
Active
Size
2,807 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
Res
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
washer/dryer hookups
Building Details
Building Size
2,807 SF
Year Built
1930
Stories
6
Listing Agency:
Coldwell Banker Realty - Westwood
(781) 320-0550
Listed By:
Elaine Patterson
Source:
Cjbarrett
Added: Mar 10
Changed: Aug 29
Last Checked: Aug 29 at 3:32PM
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 Coldwell Banker Realty - Westwood
Investment Insights
Based on property information with market context.
This 2807-square-foot duplex contains two townhouse-style residences. The first unit offers 4 bedrooms and 2 full baths and has recently received a complete renovation. The second includes 3 bedrooms and 1 full bath, with the property’s layout providing a comparable configuration across both residences. Each unit has its own heat and hot water, while washer and dryer hookups are located in the lower level. Natural gas service, town water, and town sewer are present. The right side is deleaded.
Located at 23-25 Hoyle St in Norwood, the property is near bus service, Norwood Central train station, restaurants, and shops. Built in 1930 and zoned Res, the duplex combines separate residential systems with a two-unit townhouse arrangement.
Located at 23-25 Hoyle St in Norwood, the property is near bus service, Norwood Central train station, restaurants, and shops. Built in 1930 and zoned Res, the duplex combines separate residential systems with a two-unit townhouse arrangement.
Key Highlights
- Two townhouse‑style units with 4‑bedroom/2‑bath and 3‑bedroom/1‑bath layouts
- 2807 SF duplex built in 1930
- Unit 1 recently underwent a complete renovation
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
$50,283
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
5.05%
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%
$1,005,660
$1.0M
Cap Rate 7%
$718,329
$718.3K
Cap Rate 9%
$558,700
$558.7K
Market Conditions
NOI Build-Up for 2,807 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
$75.8K $27.00/SF
− Vacancy
−$4.0K −$1.41/SF
EGI
$71.8K $25.59/SF
− OpEx
−$21.5K −$7.68/SF
NOI
$50.3K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$1,005,660
Cap Rate 7%
$718,329
Cap Rate 9%
$558,700
Alternative Uses
Best Use
Multifamily LT 5
$718.3K
$628.5K – $838.1K
NOI $50,283 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$662.8K
$579.9K – $773.2K
NOI $46,394 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,321 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,673
Businesses Nearby
Explore this area
Business Placement
Demographics for 02062, MA
31,611
Population
13,961
Households
2.3
Avg Household Size
41
Median Age
53%
College-Educated
93%
High-School Grad
10.5 sq mi
ZIP Area
3,011
Density / Sq Mi
$97,110
Median Household Income
$60,434
Median Earnings
$2,056
Median Rent
$613,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two townhouse-style units offer separate utilities, lower-level laundry hookups, and one recently renovated residence.
Where is this duplex located?
The property is located at 23-25 Hoyle St Norwood, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two townhouse‑style units with 4‑bedroom/2‑bath and 3‑bedroom/1‑bath layouts; 2807 SF duplex built in 1930; Unit 1 recently underwent a complete renovation
