Renovated Duplex with Off-Street
For Sale
$1,399,000
257 Waverley Street, Belmont, MA 02478
Two updated units offer separate kitchens and laundry, with one apartment occupied through June 2027 and the other available vacant.
Property Size2,636 SF
Price / SF$530.73
Days on Market9
Property Features for 257 Waverley Street
General Information
Standard status
Active
Size
2,636 SF
Property subtype
Multi-family
Lease Term
[]
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Building Details
Year Built
1905
Buildings
1
Listing Agency:
Coldwell Banker Realty - Newton
Listed By:
Simon Gray
(781) 290-7454
Source:
Yourhomeforsale
Added: Oct 17
Changed: Oct 25
Last Checked: Oct 24 at 9:32PM
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 - Newton
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Investment Insights
Based on property information with market context.
This 2,636-square-foot duplex, built in 1905, contains two apartments. The first-floor residence has two bedrooms, one bathroom, a renovated kitchen with granite counters and stainless steel appliances, living and dining rooms, plus a pantry with laundry. The upper apartment has four bedrooms and one bathroom across two levels, along with a renovated kitchen, living and dining rooms, a pantry, in-unit laundry, and a private deck. Its top floor includes a vaulted-ceiling primary bedroom and another bedroom. Plumbing and gas lines are in place for an additional full bathroom, and a gas fireplace is also present. The property has four or more off-street parking spaces.
Major work includes foundation reinforcement and basement waterproofing in 2022; a roof replacement in 2024; and new insulation, shingles, Trex back porches, and exterior paint in 2025. The building has also received full rewiring and a new water line from the street. The first-floor apartment is leased through June 30, 2027, while the second-floor unit will be vacant at delivery. The corner-lot property is between Waverley Square and Belmont Center, near commuter rail stops serving Porter Square and North Station, as well as shopping, restaurants, and parks.
Major work includes foundation reinforcement and basement waterproofing in 2022; a roof replacement in 2024; and new insulation, shingles, Trex back porches, and exterior paint in 2025. The building has also received full rewiring and a new water line from the street. The first-floor apartment is leased through June 30, 2027, while the second-floor unit will be vacant at delivery. The corner-lot property is between Waverley Square and Belmont Center, near commuter rail stops serving Porter Square and North Station, as well as shopping, restaurants, and parks.
Key Highlights
- Two apartments in a 2,636‑square‑foot building constructed in 1905
- First‑floor unit: 2 bedrooms, 1 bathroom; leased through 6/30/27
- Upper unit: 4 bedrooms, 1 bathroom across two levels; delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,779
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,115,580
$1.1M
Cap Rate 7%
$796,843
$796.8K
Cap Rate 9%
$619,767
$619.8K
Market Conditions
NOI Build-Up for 2,636 SF
Gross rent
$83.8K $31.80/SF
− Vacancy
−$4.1K −$1.57/SF
EGI
$79.7K $30.23/SF
− OpEx
−$23.9K −$9.07/SF
NOI
$55.8K $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%
$1,115,580
Cap Rate 7%
$796,843
Cap Rate 9%
$619,767
Alternative Uses
Best Use
Multifamily LT 5
$796.8K
$697.2K – $929.7K
NOI $55,779 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$749.3K
$655.6K – $874.1K
NOI $52,448 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,235 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Explore this area
Business Placement
Demographics for 02478, MA
27,286
Population
10,811
Households
2.5
Avg Household Size
42
Median Age
80%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
5,932
Density / Sq Mi
$177,790
Median Household Income
$95,206
Median Earnings
$2,382
Median Rent
$1,108,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units offer separate kitchens and laundry, with one apartment occupied through June 2027 and the other available vacant.
Where is this duplex located?
The property is located at 257 Waverley Street Belmont, MA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Two apartments in a 2,636‑square‑foot building constructed in 1905; First‑floor unit: 2 bedrooms, 1 bathroom; leased through 6/30/27; Upper unit: 4 bedrooms, 1 bathroom across two levels; delivered vacant
