Duplex with Enclosed
For Sale
$897,000
573-575 Washington Ave, Chelsea, MA 02150
Two separate units include individual utilities, gas heat, and 100-amp electrical service.
Property Size2,218 SF
Price / SF$404.42
Days on Market76
Property Features for 573-575 Washington Ave
General Information
Standard status
Active
Size
2,218 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Zoning
R1
Net Operating Income
$68,400
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,515
Amenities
hardwood floors
front porch
enclosed deck
private yard
workshop area
full basement
washer/dryer
off-street parking
Building Details
Building Size
2,218 SF
Year Built
1932
Buildings
1
Stories
2
Listing Agency:
Lewis Builders
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 16
Changed: Aug 29
Last Checked: Aug 29 at 2:49PM
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 Lewis Builders
Investment Insights
Based on property information with market context.
Built in 1932, this 2,218-square-foot duplex at 573-575 Washington Ave includes two separate units with individual utilities, gas heat, and 100-amp electrical service for each unit. Hardwood floors, functional layouts, a covered front porch, and an enclosed deck add usable interior and exterior features. The property also includes a private yard, workshop area, full basement storage, and a washer and dryer that remain with the sale. Off-street parking is available.
The home is located in Chelsea’s Prattville neighborhood with access to public transportation, Route 1, shopping, restaurants, and local amenities. R1 zoning is in place.
The home is located in Chelsea’s Prattville neighborhood with access to public transportation, Route 1, shopping, restaurants, and local amenities. R1 zoning is in place.
Key Highlights
- Two‑family duplex with 2,218 square feet, built in 1932
- Separate utilities, gas heat, and 100‑amp electrical service for each unit
- Hardwood floors, functional layouts, front porch, and enclosed 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
$42,256
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
4.71%
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%
$845,120
$845.1K
Cap Rate 7%
$603,657
$603.7K
Cap Rate 9%
$469,511
$469.5K
Market Conditions
NOI Build-Up for 2,218 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
$63.9K $28.80/SF
− Vacancy
−$3.5K −$1.58/SF
EGI
$60.4K $27.22/SF
− OpEx
−$18.1K −$8.16/SF
NOI
$42.3K $19.05/SF
Area
Suffolk County, MA
Vacancy
5.50%
Lease Rate
$28.80 /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%
$845,120
Cap Rate 7%
$603,657
Cap Rate 9%
$469,511
Alternative Uses
Best Use
Multifamily LT 5
$603.7K
$528.2K – $704.3K
NOI $42,256 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$550.4K
$481.6K – $642.2K
NOI $38,529 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,913 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
778
Businesses Nearby
Explore this area
Business Placement
Demographics for 02150, MA
40,721
Population
14,162
Households
2.9
Avg Household Size
34
Median Age
22%
College-Educated
69%
High-School Grad
2.2 sq mi
ZIP Area
18,510
Density / Sq Mi
$72,122
Median Household Income
$41,046
Median Earnings
$1,861
Median Rent
$476,500
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 - Two separate units include individual utilities, gas heat, and 100-amp electrical service.
Where is this duplex located?
The property is located at 573-575 Washington Ave Chelsea, MA.
What is the asking price?
The asking price for this property is $897,000.
What are key features of this property?
This property features: Two‑family duplex with 2,218 square feet, built in 1932; Separate utilities, gas heat, and 100‑amp electrical service for each unit; Hardwood floors, functional layouts, front porch, and enclosed deck
