Duplex Townhouse
For Sale
$1,049,000
Pending
27-29 Highland St, Waltham, MA 02453
Two townhouse-style units offer flexible living arrangements, individual laundry hookups, storage, and basement space.
Property Size3,232 SF
Days on Market8
Property Features for 27-29 Highland St
General Information
Standard status
Pending
Size
3,232 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
res
Units
Unit Mix
1 x 3BR, 1 x 4BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,343
Amenities
washer & dryer hookups
Building Details
Building Size
3,232 SF
Year Built
1880
Buildings
1
Stories
3
Units
2
Listing Agency:
Martocchia REALTORSÂ
(617) 504-3915
Listed By:
Amleto Mel Martocchia
(617) 504-3915
Source:
Threehillsres
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 15 at 1:56PM
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 Martocchia REALTORSÂ
Investment Insights
Based on property information with market context.
This duplex contains two townhouse-style residences with three and four bedrooms, respectively. Each unit includes a living room, dining area, and kitchen, with flexible floorplans that may allow an existing living room to function as an additional bedroom after a door is installed at the existing frame. Tall ceilings, abundant natural light, and storage areas contribute to the interior layout, while both units have washer and dryer hookups. A large unfinished basement adds additional space for storage or future planning. The property was recently refreshed and dates to 1880.
The residence is located near Brandeis University in Waltham, Massachusetts, and is identified as residentially zoned. Its two-unit configuration supports an owner-occupant arrangement with separate rental space, subject to applicable requirements.
The residence is located near Brandeis University in Waltham, Massachusetts, and is identified as residentially zoned. Its two-unit configuration supports an owner-occupant arrangement with separate rental space, subject to applicable requirements.
Key Highlights
- Two townhouse‑style units with 3- and 4‑bedroom layouts
- Each unit includes a living room, dining room, and kitchen
- Washer and dryer hookups provided for both units
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
$68,390
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
6.52%
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%
$1,367,800
$1.4M
Cap Rate 7%
$977,000
$977.0K
Cap Rate 9%
$759,889
$759.9K
Market Conditions
NOI Build-Up for 3,232 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
$102.8K $31.80/SF
− Vacancy
−$5.1K −$1.57/SF
EGI
$97.7K $30.23/SF
− OpEx
−$29.3K −$9.07/SF
NOI
$68.4K $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 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%
$1,367,800
Cap Rate 7%
$977,000
Cap Rate 9%
$759,889
Alternative Uses
Best Use
Multifamily LT 5
$977.0K
$854.9K – $1.14M
NOI $68,390 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$918.7K
$803.8K – $1.07M
NOI $64,306 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,933 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,597
Businesses Nearby
Explore this area
Business Placement
Demographics for 02453, MA
31,854
Population
13,163
Households
2.4
Avg Household Size
34
Median Age
59%
College-Educated
92%
High-School Grad
3.6 sq mi
ZIP Area
8,848
Density / Sq Mi
$114,029
Median Household Income
$58,036
Median Earnings
$2,063
Median Rent
$666,300
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 townhouse-style units offer flexible living arrangements, individual laundry hookups, storage, and basement space.
Where is this duplex located?
The property is located at 27-29 Highland St Waltham, MA.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: Two townhouse‑style units with 3- and 4‑bedroom layouts; Each unit includes a living room, dining room, and kitchen; Washer and dryer hookups provided for both units
