Two-Unit Condominium
For Sale
$2,200,000
47-49 Clark Street, Newton, MA 02459
Legally separated residences offer flexible ownership, occupancy, and rental-income options.
Property Size3,135 SF
Price / SF$701.75
Days on Market22
Property Features for 47-49 Clark Street
General Information
Standard status
Active
Size
3,135 SF
Property subtype
Multi-family
Building Details
Year Built
1920
Listing Agency:
Preservation Properties
(617) 212-5250
Listed By:
Alan Stone
(401) 333-9333
Source:
Residentialproperties
Added: Aug 6
Changed: Aug 25
Last Checked: Aug 26 at 10:04AM
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 1920 two-family property at 47-49 Clark Street comprises two legally converted condominium units. The first-floor residence includes two bedrooms, one-and-a-half bathrooms, living and dining rooms, an eat-in kitchen, in-unit laundry, central air conditioning, and private outdoor space. The upper residence places four bedrooms on one level and adds laundry, a living room with a gas fireplace nook, dining room, office, and an open kitchen and family area leading to a covered deck.
The property includes a level yard with flowering trees and shrubs. Both residences have updated heating systems, central air conditioning, architectural shingle roofing, and lead paint compliance certification. Zoning is SR3. The Newton Centre setting provides access to Crystal Lake Beach, shops, restaurants, cafes, parks, public transportation, major driving routes, and area employment centers including Longwood Medical Area, Brookline, Cambridge, and downtown Boston.
The property includes a level yard with flowering trees and shrubs. Both residences have updated heating systems, central air conditioning, architectural shingle roofing, and lead paint compliance certification. Zoning is SR3. The Newton Centre setting provides access to Crystal Lake Beach, shops, restaurants, cafes, parks, public transportation, major driving routes, and area employment centers including Longwood Medical Area, Brookline, Cambridge, and downtown Boston.
Key Highlights
- Two legally converted condominium units within one two‑family property
- First‑floor unit offers 2 bedrooms, 1.5 bathrooms, in‑unit laundry, central air, and private outdoor space
- Upper residence includes 4 bedrooms on one floor plus a covered deck
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
$66,338
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
3.02%
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%
$1,326,760
$1.3M
Cap Rate 7%
$947,686
$947.7K
Cap Rate 9%
$737,089
$737.1K
Market Conditions
NOI Build-Up for 3,135 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
$99.7K $31.80/SF
− Vacancy
−$4.9K −$1.57/SF
EGI
$94.8K $30.23/SF
− OpEx
−$28.4K −$9.07/SF
NOI
$66.3K $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%
$1,326,760
Cap Rate 7%
$947,686
Cap Rate 9%
$737,089
Alternative Uses
Best Use
Multifamily LT 5
$947.7K
$829.2K – $1.11M
NOI $66,338 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$891.1K
$779.7K – $1.04M
NOI $62,376 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$1.86M
$1.62M – $2.17M
NOI $129,914 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,686
Businesses Nearby
Explore this area
Business Placement
Demographics for 02459, MA
19,017
Population
6,828
Households
2.8
Avg Household Size
44
Median Age
84%
College-Educated
98%
High-School Grad
5.0 sq mi
ZIP Area
3,803
Density / Sq Mi
$214,941
Median Household Income
$87,409
Median Earnings
$2,308
Median Rent
$1,336,200
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 - Legally separated residences offer flexible ownership, occupancy, and rental-income options.
Where is this duplex located?
The property is located at 47-49 Clark Street Newton, MA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two legally converted condominium units within one two‑family property; First‑floor unit offers 2 bedrooms, 1.5 bathrooms, in‑unit laundry, central air, and private outdoor space; Upper residence includes 4 bedrooms on one floor plus a covered deck
