Two-Family Corner Lot
For Sale
$1,099,000
257 Cross Street, Winchester, MA 01890
Two-unit property on a level corner lot with frontage on two streets and separate entrances for each unit.
Property Size2,801 SF
Price / SF$392.36
Days on Market11
Property Features for 257 Cross Street
General Information
Standard status
Active
Size
2,801 SF
Property subtype
Multi-family
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
fireplaced living room
updated kitchen
sunroom
laundry room
separate entrances
Building Details
Year Built
1960
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Kim Covino & Co. Team
(617) 420-9033
Source:
Sredboston
Added: Jul 22
Changed: Jul 26
Last Checked: Aug 1 at 3:26AM
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 Compass
Investment Insights
Based on property information with market context.
This two-family property offers a flexible layout with two separate units and an existing footprint ready for modernization, renovation, or expansion. The first-floor unit includes a fireplaced living room, an updated kitchen, three bedrooms, 1.5 baths, and a sunroom that overlooks the expansive backyard. The second unit features a living room, kitchen, two bedrooms, a laundry room, and a full bath.
Set on a large, level corner lot, the property has frontage on both Cross Street and Verplast Avenue. Separate entrances support the independent day-to-day use of each unit, providing a practical configuration for owner-occupants or investors considering improvements or reconfiguration.
Overall, the combination of a generous lot, separate entrances, and the current two-family setup creates a strong starting point for tenants, buyers, or builders looking to update the property and tailor the space to their needs.
Set on a large, level corner lot, the property has frontage on both Cross Street and Verplast Avenue. Separate entrances support the independent day-to-day use of each unit, providing a practical configuration for owner-occupants or investors considering improvements or reconfiguration.
Overall, the combination of a generous lot, separate entrances, and the current two-family setup creates a strong starting point for tenants, buyers, or builders looking to update the property and tailor the space to their needs.
Key Highlights
- Two‑family property built in 1960 on a large, level corner lot with frontage on Cross Street and Verplast Avenue
- First‑floor unit includes a fireplaced living room, updated kitchen, three bedrooms, 1.5 baths, and a sunroom overlooking the backyard
- Second unit features a flexible layout with a living room, kitchen, 2 bedrooms, a laundry room, and a full bath
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 | $89.1k | $31.80 |
| − Vacancy | −$4.4k | −$1.57 |
| EGI | $84.7k | $30.23 |
| − OpEx | −$25.4k | −$9.07 |
| NOI | $59.3k | $21.16 |
2,801 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$846.7K
$740.9K – $987.8K
NOI $59,270 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$796.1K
$696.6K – $928.8K
NOI $55,730 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,073 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
Explore this area
Business Placement
Demographics for 01890, MA
22,970
Population
8,283
Households
2.8
Avg Household Size
43
Median Age
78%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
3,828
Density / Sq Mi
$218,176
Median Household Income
$107,083
Median Earnings
$2,271
Median Rent
$1,181,700
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 - Two-unit property on a level corner lot with frontage on two streets and separate entrances for each unit.
Where is this duplex located?
The property is located at 257 Cross Street Winchester, MA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Two‑family property built in 1960 on a large, level corner lot with frontage on Cross Street and Verplast Avenue; First‑floor unit includes a fireplaced living room, updated kitchen, three bedrooms, 1.5 baths, and a sunroom overlooking the backyard; Second unit features a flexible layout with a living room, kitchen, 2 bedrooms, a laundry room, and a full bath
