Two-Unit Duplex with
For Sale
$1,325,000
5-7 Pearl Street, Belmont, MA 02478
Up-and-down layout with hardwood floors, enclosed porches, and separate paved driveways.
Property Size2,424 SF
Price / SF$546.62
Days on Market147
Property Features for 5-7 Pearl Street
General Information
Standard status
Active
Size
2,424 SF
Total Parking Spaces
4
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
R
Net Operating Income
$68,400
Taxes and HOA fees
Annual Taxes
$13,317
Amenities
No
Hardwood
Range, Dishwasher, Refrigerator
2.0
Insulated Windows
Electric Dryer Hookup
Full, Concrete Floor, Unfinished Basement
Storage, Walk-Up Attic, Pantry, Stone/Granite/Solid Counters, Living Room, Dining Room, Kitchen, Sunroom, Office/Den
2
2.00
Frame
Shingle
Level
Porch, Porch - Enclosed
Porch, Enclosed
Building Details
Year Built
1900
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
(617) 489-6900
Listed By:
The Toland Team · License #9520788
(617) 489-6900
Source:
Compass
Added: Apr 8
Changed: Aug 31
Last Checked: Aug 31 at 10:15PM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
Investment Insights
Based on property information with market context.
This 2,424-square-foot duplex was built in 1900 and arranged as two spacious residential units. The first-floor apartment has two bedrooms, a full bathroom, an enclosed rear porch, and an eat-in kitchen with pantry storage. The upper apartment includes three bedrooms, a full bathroom, front and rear enclosed porches, in-unit laundry, and a renovated kitchen with stainless steel appliances, white shaker cabinets, and quartz countertops. Hardwood flooring, high ceilings, insulated replacement windows, and period detailing extend through the property. A walk-up unfinished attic and full unfinished concrete basement provide additional storage, while the roof was replaced in 2025 with a transferable GAF warranty.
The property is located on a dead-end street at 5-7 Pearl Street in Belmont, Massachusetts, with access to Waverley T Station, the 73 bus line, Belmont Center, Cambridge, and Boston. Two separate paved driveways provide four off-street parking spaces. The property is zoned R, and the first-floor unit has a lease ending 6/30/26.
The property is located on a dead-end street at 5-7 Pearl Street in Belmont, Massachusetts, with access to Waverley T Station, the 73 bus line, Belmont Center, Cambridge, and Boston. Two separate paved driveways provide four off-street parking spaces. The property is zoned R, and the first-floor unit has a lease ending 6/30/26.
Key Highlights
- 2,424‑square‑foot two‑family property built in 1900
- Five‑bedroom up‑and‑down configuration with two full bathrooms
- Two separate paved driveways with 4 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
$51,293
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
3.87%
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%
$1,025,860
$1.0M
Cap Rate 7%
$732,757
$732.8K
Cap Rate 9%
$569,922
$569.9K
Market Conditions
NOI Build-Up for 2,424 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
$77.1K $31.80/SF
− Vacancy
−$3.8K −$1.57/SF
EGI
$73.3K $30.23/SF
− OpEx
−$22.0K −$9.07/SF
NOI
$51.3K $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%
$1,025,860
Cap Rate 7%
$732,757
Cap Rate 9%
$569,922
Alternative Uses
Best Use
Multifamily LT 5
$732.8K
$641.2K – $854.9K
NOI $51,293 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$689.0K
$602.9K – $803.8K
NOI $48,229 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.43M
$1.26M – $1.67M
NOI $100,450 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,207
Businesses Nearby
Explore this area
Business Placement
Demographics for 02478, MA
27,286
Population
10,811
Households
2.5
Avg Household Size
42
Median Age
80%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
5,932
Density / Sq Mi
$177,790
Median Household Income
$95,206
Median Earnings
$2,382
Median Rent
$1,108,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Up-and-down layout with hardwood floors, enclosed porches, and separate paved driveways.
Where is this duplex located?
The property is located at 5-7 Pearl Street Belmont, MA.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 2,424‑square‑foot two‑family property built in 1900; Five‑bedroom up‑and‑down configuration with two full bathrooms; Two separate paved driveways with 4 off‑street parking spaces
