Oversized Two-Family Income
28 Washington Street Stoneham, MA 02180
28 Washington Street, Stoneham, MA, 02180
$1,099,000
For Sale
$1,099,000
Two separately metered units with in-unit laundry and off-street parking, currently rented and ready for owner-occupants.
Property Size2,970 SF
Price / SF$370.03
Days on Market88
Property Features for 28 Washington Street
General Information
- Standard status
- Active
- Size
- 2,970 SF
- Property subtype
- Multi-family / 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1900
Listing agency
Massachusetts Bay Realty Advisors, LLC
(617) 872-4342
Listed by
Adam Cutter · License #9510414
(617) 872-4342
Source
Compass
Added: Apr 26 Updated: Jul 21 at 1:49PM Checked: Jul 21 at 1:49PM
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 Massachusetts Bay Realty Advisors, LLC
Investment Insights
Based on property information with market context.
This oversized two-family offers 6 bedrooms and 3.5 bathrooms across approximately 2,970 square feet. Both units are currently rented and supported by separately metered utilities. The first-floor unit includes updated cabinets, quartz countertops, stainless steel appliances, a 1.5-bath layout, and newer in-unit laundry items including a washer/dryer, refrigerator, and dishwasher. The second-floor unit features 3 bedrooms and 2 bathrooms with in-unit laundry.
The property is located near downtown Stoneham, with nearby shops, schools, restaurants, parks, and public transportation. It also provides quick access to I-93 and is close to the Tri-Community Greenway.
Additional practical items include an abundance of off-street parking and newer water heaters, supporting a turn-key setup for an owner-occupant or income-focused buyer.
The property is located near downtown Stoneham, with nearby shops, schools, restaurants, parks, and public transportation. It also provides quick access to I-93 and is close to the Tri-Community Greenway.
Additional practical items include an abundance of off-street parking and newer water heaters, supporting a turn-key setup for an owner-occupant or income-focused buyer.
Key Highlights
- Oversized two‑family with ~2,970 sq ft total living area, offering 6 bedrooms and 3.5 bathrooms
- Both units currently rented for $6,500+/month with stated potential to increase
- Two separately metered units, plus off‑street parking for multiple vehicles
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 | $94.4k | $31.80 |
| − Vacancy | −$4.7k | −$1.57 |
| EGI | $89.8k | $30.23 |
| − OpEx | −$26.9k | −$9.07 |
| NOI | $62.8k | $21.16 |
2,970 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$897.8K
$785.6K – $1.05M
NOI $62,846 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$844.2K
$738.7K – $984.9K
NOI $59,093 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,076 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separately metered units with in-unit laundry and off-street parking, currently rented and ready for owner-occupants.
Where is this duplex located?
The property is located at 28 Washington Street Stoneham, 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: Oversized two‑family with ~2,970 sq ft total living area, offering 6 bedrooms and 3.5 bathrooms; Both units currently rented for $6,500+/month with stated potential to increase; Two separately metered units, plus off‑street parking for multiple vehicles
