Multifamily Home with Accessory
New
For Sale
$1,695,000
40 Harvard St, Newton, MA 02453
Separate living space and substantial on-site parking accommodate a range of residential arrangements.
Property Size3,762 SF
Days on Market2
Property Features for 40 Harvard St
General Information
Standard status
Active
Size
3,762 SF
Total Parking Spaces
8
Property subtype
Multifamily
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$14,650
Amenities
front porches
patio
Building Details
Building Size
3,762 SF
Year Built
1900
Listing Agency:
Preservation Properties
Listed By:
Ed Lyon · License #138158
(617) 527-3700
Source:
Classifiedrealtygroup
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:07AM
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 Preservation Properties
Investment Insights
Based on property information with market context.
This two-plus-family property includes a legal accessory unit, hardwood floors, stained-glass windows on the first and second floors, and front porches. The house received full insulation through Mass Save in 2022, and its electrical service includes updated 200-amp panels. A backyard garden area and patio provide additional outdoor space.
The property is near Newtonville Square and Commuter Rail. On-site parking includes six off-street spaces and a two-car garage.
The property is near Newtonville Square and Commuter Rail. On-site parking includes six off-street spaces and a two-car garage.
Key Highlights
- Two‑plus‑family property with a legal accessory unit
- Six off‑street parking spaces and a two‑car garage
- Full‑house insulation completed in 2022 through Mass Save
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,851
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,497,020
$1.5M
Cap Rate 7%
$1,069,300
$1.1M
Cap Rate 9%
$831,678
$831.7K
Market Conditions
NOI Build-Up for 3,762 SF
Gross rent
$143.6K $38.16/SF
− Vacancy
−$7.5K −$1.98/SF
EGI
$136.1K $36.18/SF
− OpEx
−$61.2K −$16.28/SF
NOI
$74.9K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,497,020
Cap Rate 7%
$1,069,300
Cap Rate 9%
$831,678
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$935.6K – $1.25M
NOI $74,851 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $155,896 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,210
Businesses Nearby
Explore this area
Business Placement
Demographics for 02453, MA
31,854
Population
13,163
Households
2.4
Avg Household Size
34
Median Age
59%
College-Educated
92%
High-School Grad
3.6 sq mi
ZIP Area
8,848
Density / Sq Mi
$114,029
Median Household Income
$58,036
Median Earnings
$2,063
Median Rent
$666,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Separate living space and substantial on-site parking accommodate a range of residential arrangements.
Where is this multifamily property located?
The property is located at 40 Harvard St Newton, MA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Two‑plus‑family property with a legal accessory unit; Six off‑street parking spaces and a two‑car garage; Full‑house insulation completed in 2022 through Mass Save
