Victorian Triplex with Large
For Sale
$2,299,000
40 Columbus St, Newton, MA 02461
Three-unit multifamily property with large rooms and four full baths.
Property Size5,674 SF
Lot Size0.31 Acres
Price / SF$405.18
Days on Market10
Property Features for 40 Columbus St
General Information
Standard status
Active
Size
5,674 SF
Lot size
0.31 Acres
Property subtype
Multi Family
Zoning
SR2
Additional Details
Multifamily Units
3
Building Details
Year Built
1869
Construction
Victorian Italianate
Listing Agency:
Coldwell Banker Realty - Newton
(617) 947-9003
Listed By:
Judy Korzenowski
(617) 947-9003
Source:
Lockandkeyre
Added: Aug 11
Changed: Aug 19
Last Checked: Aug 20 at 4:35AM
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 - Newton
Investment Insights
Based on property information with market context.
Built in 1869, this Victorian Italianate multifamily property has been used as a three-unit residence and offers 5,674 square feet of property area. The existing layout includes 8+ bedrooms, four full baths, large rooms, and 10-foot ceilings. The property is being sold as-is.
Set on a 13,284-square-foot lot within an SR2 zoning district, the property is near village amenities, transportation, parks, and major routes. The location and existing configuration may support restoration, reconfiguration, or other plans subject to independent verification. Buyers and their agents are responsible for confirming condition, permitted use, zoning, occupancy, permits, and any development considerations.
Set on a 13,284-square-foot lot within an SR2 zoning district, the property is near village amenities, transportation, parks, and major routes. The location and existing configuration may support restoration, reconfiguration, or other plans subject to independent verification. Buyers and their agents are responsible for confirming condition, permitted use, zoning, occupancy, permits, and any development considerations.
Key Highlights
- Three‑unit multifamily property on a 13,284 Sq Ft lot
- 5,674 square feet of property area
- 8+ bedrooms and 4 full baths
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
$120,064
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
5.22%
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%
$2,401,280
$2.4M
Cap Rate 7%
$1,715,200
$1.7M
Cap Rate 9%
$1,334,044
$1.3M
Market Conditions
NOI Build-Up for 5,674 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
$180.4K $31.80/SF
− Vacancy
−$8.9K −$1.57/SF
EGI
$171.5K $30.23/SF
− OpEx
−$51.5K −$9.07/SF
NOI
$120.1K $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%
$2,401,280
Cap Rate 7%
$1,715,200
Cap Rate 9%
$1,334,044
Alternative Uses
Best Use
Multifamily LT 5
$1.72M
$1.50M – $2.00M
NOI $120,064 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,893 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$3.36M
$2.94M – $3.92M
NOI $235,129 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
980
Businesses Nearby
Explore this area
Business Placement
Demographics for 02461, MA
7,430
Population
2,785
Households
2.7
Avg Household Size
44
Median Age
88%
College-Educated
97%
High-School Grad
1.5 sq mi
ZIP Area
4,953
Density / Sq Mi
$207,292
Median Household Income
$101,850
Median Earnings
$3,026
Median Rent
$1,154,500
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?
Triplex - Three-unit multifamily property with large rooms and four full baths.
Where is this triplex located?
The property is located at 40 Columbus St Newton, MA.
What is the asking price?
The asking price for this property is $2,299,000.
What are key features of this property?
This property features: Three‑unit multifamily property on a 13,284 Sq Ft lot; 5,674 square feet of property area; 8+ bedrooms and 4 full baths
