Oversized Two-Family Income
For Sale
$995,000
28 Washington St., Stoneham, MA 02180
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$335.02
Days on Market175
Property Features for 28 Washington St.
General Information
Standard status
Active
Size
2,970 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Massachusetts Bay Realty Advisors, LLC
Listed By:
Adam Cutter · License #9510414
(617) 872-4342
Source:
Livianhomesct
Added: May 8
Changed: Oct 25
Last Checked: Oct 7 at 4:50PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,846
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,256,920
$1.3M
Cap Rate 7%
$897,800
$897.8K
Cap Rate 9%
$698,289
$698.3K
Market Conditions
NOI Build-Up for 2,970 SF
Gross rent
$94.4K $31.80/SF
− Vacancy
−$4.7K −$1.57/SF
EGI
$89.8K $30.23/SF
− OpEx
−$26.9K −$9.07/SF
NOI
$62.8K $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%
$1,256,920
Cap Rate 7%
$897,800
Cap Rate 9%
$698,289
Alternative Uses
Best Use
Multifamily LT 5
$897.8K
$785.6K – $1.05M
NOI $62,846 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$844.2K
$738.7K – $984.9K
NOI $59,093 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,076 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 02180, MA
23,244
Population
9,832
Households
2.4
Avg Household Size
44
Median Age
54%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,874
Density / Sq Mi
$112,635
Median Household Income
$71,709
Median Earnings
$1,878
Median Rent
$629,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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 St. Stoneham, MA.
What is the asking price?
The asking price for this property is $995,000.
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
