Three-Unit Multifamily
For Sale
$1,289,000
460 Watertown St, Newton, MA 02460
Three two-bedroom residences with separate gas and electric service and basement laundry facilities.
Property Size2,706 SF
Price / SF$476.35
Days on Market22
Property Features for 460 Watertown St
General Information
Standard status
Active
Size
2,706 SF
Property subtype
3 Family - 3 Units Up/Down
Building Details
Building Size
2,706 SF
Year Built
1895
Listing Agency:
IVerty Realty, LLC
(413) 786-0584
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 29 at 1:22PM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This 1895 multifamily property contains three residential units, each configured with two bedrooms and one bathroom. Separate gas and electric service serves the units, while the basement includes coin-operated laundry equipment.
The property is located on Watertown St in Nonantum, within walking distance of stores, shops, restaurants, and parks. Drive access provides connectivity to surrounding towns and cities.
The property is located on Watertown St in Nonantum, within walking distance of stores, shops, restaurants, and parks. Drive access provides connectivity to surrounding towns and cities.
Key Highlights
- Three residential units, each with 2 bedrooms and 1 bathroom
- Separate gas and electric service for each unit
- Coin‑operated laundry in the basement
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
$57,260
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
4.44%
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%
$1,145,200
$1.1M
Cap Rate 7%
$818,000
$818.0K
Cap Rate 9%
$636,222
$636.2K
Market Conditions
NOI Build-Up for 2,706 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
$86.1K $31.80/SF
− Vacancy
−$4.3K −$1.57/SF
EGI
$81.8K $30.23/SF
− OpEx
−$24.5K −$9.07/SF
NOI
$57.3K $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%
$1,145,200
Cap Rate 7%
$818,000
Cap Rate 9%
$636,222
Alternative Uses
Best Use
Multifamily LT 5
$818.0K
$715.8K – $954.3K
NOI $57,260 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$769.1K
$673.0K – $897.3K
NOI $53,840 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,136 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,768
Businesses Nearby
Explore this area
Business Placement
Demographics for 02460, MA
9,204
Population
4,171
Households
2.2
Avg Household Size
43
Median Age
78%
College-Educated
98%
High-School Grad
1.3 sq mi
ZIP Area
7,080
Density / Sq Mi
$154,329
Median Household Income
$82,458
Median Earnings
$2,606
Median Rent
$1,124,300
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 two-bedroom residences with separate gas and electric service and basement laundry facilities.
Where is this triplex located?
The property is located at 460 Watertown St Newton, MA.
What is the asking price?
The asking price for this property is $1,289,000.
What are key features of this property?
This property features: Three residential units, each with 2 bedrooms and 1 bathroom; Separate gas and electric service for each unit; Coin‑operated laundry in the basement
