Two-Family Residential Income
For Sale
$479,000
Pending
3 Boyden Street Extension, Webster, MA 01570
Two separate units each with private deck access, plus basement laundry and off-street parking.
Property Size2,756 SF
Days on Market123
Property Features for 3 Boyden Street Extension
General Information
Standard status
Pending
Size
2,756 SF
Total Parking Spaces
8
Property subtype
Contingent
Zoning
MR-12
Net Operating Income
$14,400
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,266
Amenities
hardwood floors
laundry in basement
off-street parking
private decks
shared yard
Building Details
Building Size
2,756 SF
Year Built
1900
Stories
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Marblehead
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 7
Changed: Aug 19
Last Checked: Aug 18 at 4:28AM
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 - Marblehead
Investment Insights
Based on property information with market context.
This two-family residential income property offers two separate units with spacious, functional layouts. Unit 1 features hardwood floors throughout, two bedrooms, a full bathroom, a large living room, and potential for an office. Unit 2 includes another layout with an additional room that is currently being used as a bedroom. Laundry is conveniently located in the basement, and the property provides plenty of off-street parking.
Both units have their own private decks that connect to a shared yard area, providing outdoor space for each tenant while maintaining common outdoor access. The property also benefits from easy access to major routes and nearby shopping, dining, and everyday conveniences.
Overall, the configuration supports either long-term rental use or owner-occupancy with a separate second unit.
Both units have their own private decks that connect to a shared yard area, providing outdoor space for each tenant while maintaining common outdoor access. The property also benefits from easy access to major routes and nearby shopping, dining, and everyday conveniences.
Overall, the configuration supports either long-term rental use or owner-occupancy with a separate second unit.
Key Highlights
- Two‑family home built in 1900 with two separate units
- Unit 1 features hardwood floors, two bedrooms, a full bath, a large living room, and potential for an office
- Unit 2 offers a different layout with two bedrooms plus an additional room currently used as a bedroom
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
$37,255
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
7.78%
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%
$745,100
$745.1K
Cap Rate 7%
$532,214
$532.2K
Cap Rate 9%
$413,944
$413.9K
Market Conditions
NOI Build-Up for 2,756 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
$54.6K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$53.2K $19.31/SF
− OpEx
−$16.0K −$5.79/SF
NOI
$37.3K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /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%
$745,100
Cap Rate 7%
$532,214
Cap Rate 9%
$413,944
Alternative Uses
Best Use
Multifamily LT 5
$532.2K
$465.7K – $620.9K
NOI $37,255 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$463.2K
$405.3K – $540.4K
NOI $32,422 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$941.1K
$823.5K – $1.10M
NOI $65,879 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 01570, MA
17,776
Population
8,211
Households
2.2
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
12.4 sq mi
ZIP Area
1,434
Density / Sq Mi
$68,934
Median Household Income
$43,595
Median Earnings
$1,135
Median Rent
$339,600
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 separate units each with private deck access, plus basement laundry and off-street parking.
Where is this duplex located?
The property is located at 3 Boyden Street Extension Webster, MA.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Two‑family home built in 1900 with two separate units; Unit 1 features hardwood floors, two bedrooms, a full bath, a large living room, and potential for an office; Unit 2 offers a different layout with two bedrooms plus an additional room currently used as a bedroom
