Building Details

Building Size 5,040 SF

Year Built 1964

Stories 4

Listing Agency: Coldwell Banker Realty - Boston

Listed By: Sarah Fillmann Show Phone

Source: Hometown-team

Added: May 14 Changed: Oct 6 Last Checked: Sep 30 at 1:43PM

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Investment Insights

Based on property information with market context.

This 5,040-square-foot duplex property, built in 1964, includes two separate residences and additional flexible areas. The first unit has four bedrooms and one bathroom. The second provides two bedrooms and two bathrooms, along with an upper-level bonus area that can serve as office, den, or additional living space. A newly renovated primary bathroom serves Unit 2, while the first level includes laundry, bonus living space, and a new full bathroom.

Both residences have enclosed patios and access to a fully enclosed backyard. The extra-deep garage accommodates up to four cars, with three additional driveway spaces. Located at 3 Spruce Street in Stoneham, the property is within the Robinhood School District and offers adaptable space for multigenerational living or separate household use.

Key Highlights

• 5,040‑square‑foot duplex on a 7,?

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$106,648

Cap Rate

8.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,132,960 $2.1M

Cap Rate 7%

$1,523,543 $1.5M

Cap Rate 9%

$1,184,978 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,040 SF

Gross rent

$160.3K $31.80/SF

− Vacancy

−$7.9K −$1.57/SF

EGI

$152.4K $30.23/SF

− OpEx

−$45.7K −$9.07/SF

NOI

$106.6K $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%

$2,132,960

Cap Rate 7%

$1,523,543

Cap Rate 9%

$1,184,978

Alternative Uses

Best Use

Multifamily LT 5

$1.52M

$1.33M – $1.78M (±1% cap)

NOI $106,648 @ 7.0% cap · market cap 8.53%

Second Best

Apartment 5plus

$1.43M

$1.25M – $1.67M (±1% cap)

NOI $100,279 @ 7.0% cap · market cap 8.02%

Theoretical Best

Office A

$2.98M

$2.61M – $3.48M (±1% cap)

NOI $208,856 @ 7.0% cap · market cap 16.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Locksmith Barber Shop Butcher Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

603

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two separate residences with bonus areas, enclosed patios, and substantial shared parking and outdoor space.

Where is this duplex located?

The property is located at 3 Spruce St Stoneham, MA.

What is the asking price?

The asking price for this property is $1,250,000.

What are key features of this property?

This property features: 5,040‑square‑foot duplex on a 7,?