Renovated Two-Story
For Sale
$1,250,000
40 Tanager St, Arlington, MA 02476
Two residential units offer updated interiors, central air conditioning, and three tandem off-street parking spaces.
Property Size2,300 SF
Price / SF$255.83
Days on Market103
Property Features for 40 Tanager St
General Information
Standard status
Active
Size
2,300 SF
Total Parking Spaces
3
Property subtype
Multifamily
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,676
Building Details
Building Size
2,300 SF
Year Built
1914
Buildings
1
Stories
2
Listing Agency:
Horvath & Tremblay
Listed By:
Tess Kohanski
Source:
Classifiedrealtygroup
Added: May 20
Changed: Aug 29
Last Checked: Jun 3 at 1:07PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This two-story duplex includes one three-bedroom, one-bath unit and a separate two-bedroom, one-bath unit. The property provides 2,300 square feet of gross living area within 4,886 square feet of gross area, along with three tandem off-street parking spaces. Both units feature updated kitchens with quartz counters, contemporary cabinetry, stainless-steel appliances, gas ranges, and dishwashers. Hardwood flooring, refreshed bathrooms, forced hot-air heat, and central air conditioning are also provided throughout the residence. The building was constructed in 1914 and has received substantial improvements, including electrical and insulation work completed in 2025.
The property is located in Arlington near local retail and commercial areas, with access to Rte 2, Rte 3, I-95, and Mass Ave. Its two-unit configuration and renovated interiors support both investment and owner-occupancy use, as described in the property information.
The property is located in Arlington near local retail and commercial areas, with access to Rte 2, Rte 3, I-95, and Mass Ave. Its two-unit configuration and renovated interiors support both investment and owner-occupancy use, as described in the property information.
Key Highlights
- Two‑unit duplex with one 3‑bedroom/1‑bath unit and one 2‑bedroom/1‑bath unit
- 2,300 square feet of gross living area in 4,886 square feet of gross area
- Three tandem off‑street parking spaces
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
$103,389
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
8.27%
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%
$2,067,780
$2.1M
Cap Rate 7%
$1,476,986
$1.5M
Cap Rate 9%
$1,148,767
$1.1M
Market Conditions
NOI Build-Up for 4,886 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
$155.4K $31.80/SF
− Vacancy
−$7.7K −$1.57/SF
EGI
$147.7K $30.23/SF
− OpEx
−$44.3K −$9.07/SF
NOI
$103.4K $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%
$2,067,780
Cap Rate 7%
$1,476,986
Cap Rate 9%
$1,148,767
Alternative Uses
Best Use
Multifamily LT 5
$1.48M
$1.29M – $1.72M
NOI $103,389 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$1.39M
$1.22M – $1.62M
NOI $97,215 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,475 @ 7.0% cap · market cap 16.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 02476, MA
17,757
Population
8,058
Households
2.2
Avg Household Size
44
Median Age
75%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
8,456
Density / Sq Mi
$145,150
Median Household Income
$91,600
Median Earnings
$1,823
Median Rent
$882,100
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 residential units offer updated interiors, central air conditioning, and three tandem off-street parking spaces.
Where is this duplex located?
The property is located at 40 Tanager St Arlington, 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: Two‑unit duplex with one 3‑bedroom/1‑bath unit and one 2‑bedroom/1‑bath unit; 2,300 square feet of gross living area in 4,886 square feet of gross area; Three tandem off‑street parking spaces
