Two-Unit Duplex with
For Sale
$879,900
24 Short St, Norwood, MA 02062
The property combines refreshed baths, hardwood floors, outdoor gathering space, and a single garage.
Property Size2,442 SF
Price / SF$360.32
Days on Market74
Property Features for 24 Short St
General Information
Standard status
Active
Size
2,442 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
G
Net Operating Income
$24,000
Taxes and HOA fees
Annual Taxes
$6,847
Amenities
decks
fire pit
hardwood flooring
stone countertops
wood accent wall
walk-in showers
Building Details
Building Size
2,442 SF
Year Built
1928
Stories
3
Tenancy
Multi
Listing Agency:
EXP Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 27
Changed: Aug 8
Last Checked: Aug 8 at 3:53AM
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 EXP Realty
Investment Insights
Based on property information with market context.
Located at 24 Short Street in Norwood, this 2,442-square-foot duplex contains two well-maintained residential units. Both apartments feature kitchens with stone countertops, wood accent walls, hardwood flooring, and bedrooms arranged for everyday functionality. Each bathroom has been updated with a walk-in shower.
Outdoor amenities include spacious decks and a fire pit, while the property also provides one garage space. The location offers proximity to a local elementary school and the newly constructed middle school, with access to Route 1 for regional travel. The property is identified with G zoning and was built in 1928.
Outdoor amenities include spacious decks and a fire pit, while the property also provides one garage space. The location offers proximity to a local elementary school and the newly constructed middle school, with access to Route 1 for regional travel. The property is identified with G zoning and was built in 1928.
Key Highlights
- Two‑unit duplex totaling 2,442 square feet
- Two kitchens with stone countertops and wood accent walls
- Updated bathrooms with walk‑in showers
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
$43,745
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
4.97%
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%
$874,900
$874.9K
Cap Rate 7%
$624,929
$624.9K
Cap Rate 9%
$486,056
$486.1K
Market Conditions
NOI Build-Up for 2,442 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
$65.9K $27.00/SF
− Vacancy
−$3.4K −$1.41/SF
EGI
$62.5K $25.59/SF
− OpEx
−$18.7K −$7.68/SF
NOI
$43.7K $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%
$874,900
Cap Rate 7%
$624,929
Cap Rate 9%
$486,056
Alternative Uses
Best Use
Multifamily LT 5
$624.9K
$546.8K – $729.1K
NOI $43,745 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$576.6K
$504.5K – $672.7K
NOI $40,361 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$1.45M
$1.26M – $1.69M
NOI $101,196 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
887
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
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Frequently Asked Questions
What type of property is this?
Duplex - The property combines refreshed baths, hardwood floors, outdoor gathering space, and a single garage.
Where is this duplex located?
The property is located at 24 Short St Norwood, MA.
What is the asking price?
The asking price for this property is $879,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,442 square feet; Two kitchens with stone countertops and wood accent walls; Updated bathrooms with walk‑in showers
