Renovated Three-Unit Residential
244 Washington Street Norwood, MA 02062
244 Washington Street, Norwood, MA, 02062
$1,150,000
For Sale
$1,150,000
Three recently renovated units offer separate utilities, updated kitchens and renovated baths, plus laundry and basement storage.
Property Size2,488 SF
Price / SF$462.22
Days on Market77
Property Features for 244 Washington Street
General Information
- Standard status
- Active
- Size
- 2,488 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1959
Listing agency
Capital Realty Group
Listed by
Michael Lord
(617) 846-8000
Source
Highlandre
Added: May 6 Updated: Jul 21 at 12:41PM Checked: Jul 21 at 12:41PM
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 Capital Realty Group
Investment Insights
Based on property information with market context.
This recently renovated three-unit residential income property features three separate units with separate utilities. Interior updates include newer kitchens with new appliances and renovated bathrooms. The units are described as having oversized rooms, and the property also includes a shared back yard.
The building offers parking spaces and separate laundry facilities, with additional storage in the basement. Public remarks note a commuter-friendly setting near the Westwood line, with nearby access to a train, shops, restaurants, and supermarkets within walking distance.
Overall, the property is presented as a well-maintained, multi-unit investment with updated finishes and practical in-building amenities for tenants.
The building offers parking spaces and separate laundry facilities, with additional storage in the basement. Public remarks note a commuter-friendly setting near the Westwood line, with nearby access to a train, shops, restaurants, and supermarkets within walking distance.
Overall, the property is presented as a well-maintained, multi-unit investment with updated finishes and practical in-building amenities for tenants.
Key Highlights
- Three‑unit property built in 1959 with three recently renovated units
- Separate utilities for each unit
- Updated kitchens with new appliances
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.2k | $27.00 |
| − Vacancy | −$3.5k | −$1.41 |
| EGI | $63.7k | $25.59 |
| − OpEx | −$19.1k | −$7.68 |
| NOI | $44.6k | $17.91 |
2,488 SF · lease $27.00/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$636.7K
$557.1K – $742.8K
NOI $44,569 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$587.5K
$514.0K – $685.4K
NOI $41,122 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,102 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three recently renovated units offer separate utilities, updated kitchens and renovated baths, plus laundry and basement storage.
Where is this triplex located?
The property is located at 244 Washington Street Norwood, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three‑unit property built in 1959 with three recently renovated units; Separate utilities for each unit; Updated kitchens with new appliances
