Two-Family Residential Income
For Sale
$1,650,000
Pending
499 Mt Auburn Street, Cambridge, MA 02138
Well-maintained two-unit home with patio-and-garden space, updated interiors, and off-street tandem parking.
Property Size2,343 SF
Days on Market163
Property Features for 499 Mt Auburn Street
General Information
Standard status
Pending
Size
2,343 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Amenities
patio
garden
private deck
French doors
3
Building Details
Year Built
1941
Listing Agency:
Compass
(617) 233-6585
Listed By:
Kendall Green Luce Team · License #9009645
(617) 233-6585
Source:
Compass
Added: Mar 13
Changed: Aug 8
Last Checked: Jul 23 at 12:44AM
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 Compass
Investment Insights
Based on property information with market context.
This well-maintained two-family home offers two separate units with practical layouts and abundant natural light. The updated first-floor unit includes a well-designed galley kitchen, hardwood and tile flooring, a spacious living and dining area, and two bedrooms, including a primary bedroom with an en suite bath. French doors open to a large outdoor patio and garden that envelop nearly half of the property.
The second-floor unit provides a comfortable living space with two bedrooms and one full bath, along with a flexible floor plan and a bright interior. It includes a nice galley kitchen and a spacious living area, and a private deck completes the level.
Off-street parking accommodates at least two vehicles, with tandem parking for up to three. The property is located in Cambridge near Harvard Square and Fresh Pond, with easy access to public transportation and major routes into Boston, and it borders Belmont, Watertown, and Arlington.
The second-floor unit provides a comfortable living space with two bedrooms and one full bath, along with a flexible floor plan and a bright interior. It includes a nice galley kitchen and a spacious living area, and a private deck completes the level.
Off-street parking accommodates at least two vehicles, with tandem parking for up to three. The property is located in Cambridge near Harvard Square and Fresh Pond, with easy access to public transportation and major routes into Boston, and it borders Belmont, Watertown, and Arlington.
Key Highlights
- Two‑family home built in 1941 with 3 full baths total
- First‑floor unit has 2 bedrooms, including a primary bedroom with en suite bath
- First‑floor interior updates include a galley kitchen and hardwood and tile flooring
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
$58,772
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
3.56%
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%
$1,175,440
$1.2M
Cap Rate 7%
$839,600
$839.6K
Cap Rate 9%
$653,022
$653.0K
Market Conditions
NOI Build-Up for 2,343 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
$88.6K $37.80/SF
− Vacancy
−$4.6K −$1.97/SF
EGI
$84.0K $35.83/SF
− OpEx
−$25.2K −$10.75/SF
NOI
$58.8K $25.08/SF
Area
Cambridge, MA
Vacancy
5.20%
Lease Rate
$37.80 /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%
$1,175,440
Cap Rate 7%
$839,600
Cap Rate 9%
$653,022
Alternative Uses
Best Use
Multifamily LT 5
$839.6K
$734.7K – $979.5K
NOI $58,772 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$784.7K
$686.6K – $915.5K
NOI $54,927 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,444 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,329
Businesses Nearby
Explore this area
Business Placement
Demographics for 02138, MA
37,982
Population
16,132
Households
2.4
Avg Household Size
30
Median Age
86%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
14,067
Density / Sq Mi
$122,040
Median Household Income
$46,436
Median Earnings
$2,799
Median Rent
$1,088,700
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 - Well-maintained two-unit home with patio-and-garden space, updated interiors, and off-street tandem parking.
Where is this duplex located?
The property is located at 499 Mt Auburn Street Cambridge, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Two‑family home built in 1941 with 3 full baths total; First‑floor unit has 2 bedrooms, including a primary bedroom with en suite bath; First‑floor interior updates include a galley kitchen and hardwood and tile flooring
