Renovated Three-Family Townhouse in
For Sale
$1,699,999
28-32 Calvary Street, Waltham, MA 02453
Three-family townhouse in Waltham's South Side, renovated 2021-2023.
Property Size3,702 SF
Price / SF$459.21
Days on Market460
Property Features for 28-32 Calvary Street
General Information
Standard status
Active
Size
3,702 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
RC
Net Operating Income
$90,800
Taxes and HOA fees
Annual Taxes
$10,636
Building Details
Building Size
3,702 SF
Year Built
1860
Stories
6
Listing Agency:
Advantage Property Team LLC
(781) 209-0888
Listed By:
Nicholas Neu · License #9584509
(617) 684-5019
Source:
Churchillprop
Added: Jul 3, 2025
Changed: Oct 1
Last Checked: Oct 5 at 4:13PM
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 Advantage Property Team LLC
Investment Insights
Based on property information with market context.
This three-family townhouse is located in the South Side of Waltham, Massachusetts, near major highways and Moody Street & Purple Line. The corner units underwent complete renovations from 2021 to 2023, including new electrical, plumbing, HVAC, and roof. One renovated unit features a formal living room, dining room, kitchen, and laundry on the main floor, with three bedrooms and one bathroom upstairs, plus a basement for storage. The middle unit includes a kitchen, living area, bedroom, and full bath on the ground floor, with a full bath, bedroom, and family room on the second floor, which can be converted to an additional bedroom. The end unit, also renovated, has a formal living room, dining room, kitchen, and half bath on the first level, with three bedrooms and one full bath upstairs, along with a large basement for storage and laundry. The end units are leased at market rates, while the middle unit operates on a tenancy at will. The property is suitable as a long term investment or for condo conversion.
Key Highlights
- Gut renovation (2021‑2023) of corner units including new electrical, plumbing, HVAC, and roof.
- Prime location in Waltham's South Side, near highways and Moody Street/Purple Line.
- Three‑family townhouse ideal for investment or condo conversion.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,336
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,566,720
$1.6M
Cap Rate 7%
$1,119,086
$1.1M
Cap Rate 9%
$870,400
$870.4K
Market Conditions
NOI Build-Up for 3,702 SF
Gross rent
$117.7K $31.80/SF
− Vacancy
−$5.8K −$1.57/SF
EGI
$111.9K $30.23/SF
− OpEx
−$33.6K −$9.07/SF
NOI
$78.3K $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%
$1,566,720
Cap Rate 7%
$1,119,086
Cap Rate 9%
$870,400
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$979.2K – $1.31M
NOI $78,336 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$1.05M
$920.7K – $1.23M
NOI $73,657 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,410 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,987
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family townhouse in Waltham's South Side, renovated 2021-2023.
Where is this triplex located?
The property is located at 28-32 Calvary Street Waltham, MA.
What is the asking price?
The asking price for this property is $1,699,999.
What are key features of this property?
This property features: Gut renovation (2021‑2023) of corner units including new electrical, plumbing, HVAC, and roof.; Prime location in Waltham's South Side, near highways and Moody Street/Purple Line.; Three‑family townhouse ideal for investment or condo conversion.
