Duplex With Detached
For Sale
$1,288,888
589-591 Belmont Street, Belmont, MA 02478
Two-family property near public transportation and Cushing Square, with enclosed outdoor space and an above-ground pool.
Property Size2,856 SF
Lot Size0.19 Acres
Price / SF$451.29
Days on Market175
Property Features for 589-591 Belmont Street
General Information
Standard status
Active
Size
2,856 SF
Total Parking Spaces
4
Lot size
0.19 Acres
Property subtype
Multi-family / 2 Family - 2 Units Side by Side
Zoning
SC
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$16,538
Amenities
fireplace
hardwood floors
built-in hutch
above-ground pool
No
Wood, Tile, Vinyl, Hardwood
Range, Dishwasher, Microwave, Refrigerator, Freezer
4
Yes
4.0
Screens
Full, Walk Out, Interior Access, Concrete Floor, Unfinished Basement
Wood Burning
Ceiling Fan(s), Bathroom With Tub & Shower, Living Room, Dining Room, Kitchen, Sunroom, Mudroom
2
3.00
Fenced/Enclosed, Fenced
Frame, Block
Above Ground
Shingle
Level
Rain Gutters, Fenced Yard, Pool - Above Ground, Screens, Porch, Porch - Enclosed
Porch, Enclosed
Building Details
Year Built
1938
Buildings
1
Listing Agency:
Senne
(781) 648-6900
Listed By:
John G. Montanaro · License #9064613
(781) 648-6900
Source:
Compass
Added: Mar 9
Changed: Aug 30
Last Checked: Aug 30 at 12:23AM
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 Senne
Investment Insights
Based on property information with market context.
This two-family duplex in Belmont offers 2,856 square feet within a 1938-built frame and block structure. Interior features include hardwood flooring, a wood-burning fireplace, built-in hutch, living room, dining room, kitchen, sunroom, mudroom, and a full unfinished walk-out basement. The upper level includes three bedrooms. The property is offered in as-is condition and includes a detached two-car garage.
The 8,386-square-foot lot provides a level setting with fencing, an enclosed porch, rain gutters, and an above-ground pool. Public transportation and Cushing Square are nearby, while the SC zoning designation is also noted for the property.
The 8,386-square-foot lot provides a level setting with fencing, an enclosed porch, rain gutters, and an above-ground pool. Public transportation and Cushing Square are nearby, while the SC zoning designation is also noted for the property.
Key Highlights
- 2,856 square feet in a two‑family duplex
- 8,386‑square‑foot lot with level terrain and fencing
- Detached two‑car garage
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
$60,434
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
4.69%
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%
$1,208,680
$1.2M
Cap Rate 7%
$863,343
$863.3K
Cap Rate 9%
$671,489
$671.5K
Market Conditions
NOI Build-Up for 2,856 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
$90.8K $31.80/SF
− Vacancy
−$4.5K −$1.57/SF
EGI
$86.3K $30.23/SF
− OpEx
−$25.9K −$9.07/SF
NOI
$60.4K $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%
$1,208,680
Cap Rate 7%
$863,343
Cap Rate 9%
$671,489
Alternative Uses
Best Use
Multifamily LT 5
$863.3K
$755.4K – $1.01M
NOI $60,434 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$811.8K
$710.3K – $947.1K
NOI $56,825 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,352 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
799
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property near public transportation and Cushing Square, with enclosed outdoor space and an above-ground pool.
Where is this duplex located?
The property is located at 589-591 Belmont Street Belmont, MA.
What is the asking price?
The asking price for this property is $1,288,888.
What are key features of this property?
This property features: 2,856 square feet in a two‑family duplex; 8,386‑square‑foot lot with level terrain and fencing; Detached two‑car garage
