Two-Family Duplex with Off-Street
3 School Street, Norwood, MA 02062
For Sale
New
$849,900
Vacant two-unit residence with separate utilities, basement laundry, and parking for multiple vehicles.
Property Size2,137 SF
Price / SF$397.71
Days on Market1
Property Features for 3 School Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
basement laundry
outdoor shed
Ceiling Fan(s)
Bathroom With Tub & Shower
Living Room
Kitchen
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Coldwell Banker Realty - Westwood
(781) 320-0550
Listed By:
Jennifer Conley
(508) 265-3824
Source:
Condonrealty
Added: Nov 6
Last Checked: Nov 6 at 9:35AM
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 - Westwood
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Investment Insights
Based on property information with market context.
This 2,137-square-foot duplex contains two vacant units. The first includes two bedrooms, a living room, an eat-in kitchen, and a full bathroom; it was renovated around 2003. The second spans two levels, with two bedrooms, a living room, an eat-in kitchen, and a full bathroom on the first floor, plus two additional rooms and a half bath upstairs. Replacement windows, separate utilities, basement laundry, storage, and an outdoor shed round out the property. Built in 1888, the home sits on a corner lot and provides off-street parking for 8+ cars.
Norwood Center, commuter rail, shops, restaurants, and local amenities are within a short walk. The property is zoned G.
Norwood Center, commuter rail, shops, restaurants, and local amenities are within a short walk. The property is zoned G.
Key Highlights
- Two vacant residential units in a 2,137‑square‑foot building
- Parking accommodates 8+ cars; property occupies a corner lot
- One unit has two bedrooms and a full bath; renovated around 2003
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,281
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$765,620
$765.6K
Cap Rate 7%
$546,871
$546.9K
Cap Rate 9%
$425,344
$425.3K
Market Conditions
NOI Build-Up for 2,137 SF
Gross rent
$57.7K $27.00/SF
− Vacancy
−$3.0K −$1.41/SF
EGI
$54.7K $25.59/SF
− OpEx
−$16.4K −$7.68/SF
NOI
$38.3K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$765,620
Cap Rate 7%
$546,871
Cap Rate 9%
$425,344
Alternative Uses
Best Use
Multifamily LT 5
$546.9K
$478.5K – $638.0K
NOI $38,281 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$504.6K
$441.5K – $588.7K
NOI $35,320 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,557 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
993
Businesses Nearby
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Business Placement
Demographics for 02062, MA
31,611
Population
13,961
Households
2.3
Avg Household Size
41
Median Age
53%
College-Educated
93%
High-School Grad
10.5 sq mi
ZIP Area
3,011
Density / Sq Mi
$97,110
Median Household Income
$60,434
Median Earnings
$2,056
Median Rent
$613,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Norfolk County, MA
Properties on Market for Duplexes in Norfolk County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-unit residence with separate utilities, basement laundry, and parking for multiple vehicles.
Where is this duplex located?
The property is located at 3 School Street Norwood, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two vacant residential units in a 2,137‑square‑foot building; Parking accommodates 8+ cars; property occupies a corner lot; One unit has two bedrooms and a full bath; renovated around 2003
