Two-Family Residential Income
40 Wright Street Stoneham, MA 02180
40 Wright Street, Stoneham, MA, 02180
$829,000
For Sale
$829,000
Renovated two-family residence with open living layouts, offering flexible options for owner-occupants or investors.
Property Size2,023 SF
Price / SF$409.79
Days on Market54
Property Features for 40 Wright Street
General Information
- Standard status
- Active
- Size
- 2,023 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1880
Listing Agency
Keller Williams Realty Signature Properties
(508) 254-7735
Listed by
Jay Hutchinson
(508) 254-7735
Source
Lockandkeyre
Added: May 28 Updated: Jul 10 at 1:47 pm Checked: Jul 20 at 4:55 am
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 Keller Williams Realty Signature Properties
Investment Insights
Based on property information with market context.
This two-family home was constructed in 1880 and renovated in 2000, providing 2023 square feet of living space across two units. The first-floor unit features an open-plan kitchen integrated with the living area and includes two bedrooms. The upper unit offers three bedrooms, creating a practical arrangement for varied household needs or rental configurations. The property is described as ready for immediate occupancy, though it needs some work, presenting an opportunity for buyers looking to improve and add value with targeted updates.
The home is positioned in a desirable Stoneham locale, with access to downtown Stoneham, commuter rail, and routes 93 & 95 just minutes away. This convenience can support a range of lifestyles and tenant preferences, particularly for residents who commute or want quick access to established local amenities.
With its two distinct layouts—two bedrooms on the first level and three bedrooms upstairs—this property can suit multi-generational living while also supporting investment use. Buyers and investors may find the configuration well-suited for stabilizing a rental portfolio or for an owner-occupant who plans to offset expenses using the second unit. Because the listing notes the need for some work, it also aligns with buyers prepared to refresh the property and tailor it to their long-term goals.
The home is positioned in a desirable Stoneham locale, with access to downtown Stoneham, commuter rail, and routes 93 & 95 just minutes away. This convenience can support a range of lifestyles and tenant preferences, particularly for residents who commute or want quick access to established local amenities.
With its two distinct layouts—two bedrooms on the first level and three bedrooms upstairs—this property can suit multi-generational living while also supporting investment use. Buyers and investors may find the configuration well-suited for stabilizing a rental portfolio or for an owner-occupant who plans to offset expenses using the second unit. Because the listing notes the need for some work, it also aligns with buyers prepared to refresh the property and tailor it to their long-term goals.
Key Highlights
- Two‑family home built in 1880 with 2,023 sq ft of living space
- Renovated in 2000 and ready for immediate occupancy
- First‑floor unit features an open‑plan kitchen and living area with 2 bedrooms
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.3k | $31.80 |
| − Vacancy | −$3.2k | −$1.57 |
| EGI | $61.2k | $30.23 |
| − OpEx | −$18.3k | −$9.07 |
| NOI | $42.8k | $21.16 |
2,023 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$611.5K
$535.1K – $713.5K
NOI $42,807 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$575.0K
$503.1K – $670.9K
NOI $40,251 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,833 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Renovated two-family residence with open living layouts, offering flexible options for owner-occupants or investors.
Where is this duplex located?
The property is located at 40 Wright Street Stoneham, MA.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: Two‑family home built in 1880 with 2,023 sq ft of living space; Renovated in 2000 and ready for immediate occupancy; First‑floor unit features an open‑plan kitchen and living area with 2 bedrooms
