Flexible Two-Family
For Sale
$1,250,000
3 Spruce St, Stoneham, MA 02180
Two separate residences with bonus areas, enclosed patios, and substantial shared parking and outdoor space.
Property Size5,040 SF
Price / SF$248.02
Days on Market110
Property Features for 3 Spruce St
General Information
Standard status
Active
Size
5,040 SF
Property subtype
2 Family - 2 Units Side by Side
Building Details
Year Built
1964
Listing Agency:
Coldwell Banker Realty - Boston
(617) 797-5199
Listed By:
Sarah Fillmann
(617) 797-5199
Source:
Lockandkeyre
Added: May 14
Changed: Aug 29
Last Checked: Aug 30 at 6:28PM
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 - Boston
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.
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 = 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
$106,648
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
8.53%
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%
$2,132,960
$2.1M
Cap Rate 7%
$1,523,543
$1.5M
Cap Rate 9%
$1,184,978
$1.2M
Market Conditions
NOI Build-Up for 5,040 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
$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 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%
$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
NOI $106,648 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,279 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$2.98M
$2.61M – $3.48M
NOI $208,856 @ 7.0% cap · market cap 16.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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,?
