Updated Triplex with Finished Lower
For Sale
$1,625,999
Pending
33 Parsons St, Newton, MA 02465
Three separate residences offer flexible layouts, dedicated systems, laundry, decks, and paved off-street parking.
Property Size3,587 SF
Days on Market56
Property Features for 33 Parsons St
General Information
Standard status
Pending
Size
3,587 SF
Total Parking Spaces
10
Property subtype
Multifamily
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,034
Amenities
laundry
decks
backyard
Building Details
Building Size
3,587 SF
Year Built
1890
Listing Agency:
Berkshire Hathaway HomeServices Verani Realty
Listed By:
Charlotte Marrocco-Mohler
(617) 216-8003
Source:
Classifiedrealtygroup
Added: Aug 18
Changed: Oct 5
Last Checked: Oct 11 at 3:41AM
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 Berkshire Hathaway HomeServices Verani Realty
Investment Insights
Based on property information with market context.
This updated triplex contains three separate living units with distinct layouts. The first floor includes 5 rooms, 2 bedrooms, and 1 bath; the second floor has 5 rooms, 3 bedrooms, and 2 baths; and the finished lower level provides 3 rooms, 1 bedroom, and 1 bath. Separate furnaces, water tanks, and electric panels serve each unit. Lower-level laundry includes new washer and dryer equipment, while decks and a landscaped backyard add outdoor space. HERS Certification is in process for an optional ADU.
Located at 33 Parsons St in Newton, the property is near restaurants, shopping, Trader Joe’s, Albemarle Park & Pool, and the T-Green Line and Commuter Rail. Two newly paved driveways provide parking for 6 vehicles and 4 vehicles, respectively. The property was built in 1890 and has a Walk Score of 64, Bike Score of 30, and Transit Score of 33.
Located at 33 Parsons St in Newton, the property is near restaurants, shopping, Trader Joe’s, Albemarle Park & Pool, and the T-Green Line and Commuter Rail. Two newly paved driveways provide parking for 6 vehicles and 4 vehicles, respectively. The property was built in 1890 and has a Walk Score of 64, Bike Score of 30, and Transit Score of 33.
Key Highlights
- Three separate living units with flexible floor plans
- First floor: 5 rooms, 2 bedrooms, and 1 bath
- Second floor: 5 rooms, 3 bedrooms, and 2 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,902
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,518,040
$1.5M
Cap Rate 7%
$1,084,314
$1.1M
Cap Rate 9%
$843,356
$843.4K
Market Conditions
NOI Build-Up for 3,587 SF
Gross rent
$114.1K $31.80/SF
− Vacancy
−$5.6K −$1.57/SF
EGI
$108.4K $30.23/SF
− OpEx
−$32.5K −$9.07/SF
NOI
$75.9K $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%
$1,518,040
Cap Rate 7%
$1,084,314
Cap Rate 9%
$843,356
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$948.8K – $1.27M
NOI $75,902 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$1.02M
$892.1K – $1.19M
NOI $71,369 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,644 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,193
Businesses Nearby
Explore this area
Business Placement
Demographics for 02465, MA
12,415
Population
4,452
Households
2.8
Avg Household Size
42
Median Age
78%
College-Educated
97%
High-School Grad
2.2 sq mi
ZIP Area
5,643
Density / Sq Mi
$174,518
Median Household Income
$93,021
Median Earnings
$2,251
Median Rent
$1,098,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences offer flexible layouts, dedicated systems, laundry, decks, and paved off-street parking.
Where is this triplex located?
The property is located at 33 Parsons St Newton, MA.
What is the asking price?
The asking price for this property is $1,625,999.
What are key features of this property?
This property features: Three separate living units with flexible floor plans; First floor: 5 rooms, 2 bedrooms, and 1 bath; Second floor: 5 rooms, 3 bedrooms, and 2 baths
