Duplex with Detached
For Sale
$1,249,900
59 River St, Newton, MA 02465
Two residential units feature hardwood floors, high ceilings, and additional unfinished attic space.
Property Size2,637 SF
Price / SF$473.99
Days on Market50
Property Features for 59 River St
General Information
Standard status
Active
Size
2,637 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
SR3
Net Operating Income
$49,800
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,185
Building Details
Building Size
2,637 SF
Year Built
1880
Buildings
1
Stories
3
Listing Agency:
Perella Real Estate
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 23
Changed: Aug 10
Last Checked: Aug 11 at 4:49AM
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 Perella Real Estate
Investment Insights
Based on property information with market context.
Built in 1880, this duplex contains two residential units with separate living areas, eat-in kitchens, bedrooms, and bathrooms. The first-floor residence includes a dining room and two bedrooms, while the upper unit has two bedrooms and access to an unfinished attic with four separate rooms. High ceilings and oversized windows extend throughout the home, and hardwood flooring is featured on the first level. Gas heating and hot water systems have been updated.
The property includes a detached two-car garage and is zoned SR3. It is located less than half a mile from West Newton Center and the commuter rail to Boston, with access to I-90 nearby.
The property includes a detached two-car garage and is zoned SR3. It is located less than half a mile from West Newton Center and the commuter rail to Boston, with access to I-90 nearby.
Key Highlights
- Two‑family duplex with distinct first- and second‑floor residential units
- First‑floor layout includes a living room, dining room, two bedrooms, eat‑in kitchen, and one bathroom
- Upper unit includes two bedrooms, eat‑in kitchen, one bathroom, and unfinished attic with four separate rooms
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
$55,800
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
4.46%
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%
$1,116,000
$1.1M
Cap Rate 7%
$797,143
$797.1K
Cap Rate 9%
$620,000
$620.0K
Market Conditions
NOI Build-Up for 2,637 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
$83.9K $31.80/SF
− Vacancy
−$4.1K −$1.57/SF
EGI
$79.7K $30.23/SF
− OpEx
−$23.9K −$9.07/SF
NOI
$55.8K $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%
$1,116,000
Cap Rate 7%
$797,143
Cap Rate 9%
$620,000
Alternative Uses
Best Use
Multifamily LT 5
$797.1K
$697.5K – $930.0K
NOI $55,800 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$749.5K
$655.8K – $874.5K
NOI $52,467 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,277 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
Explore this area
Business Placement
Demographics for 02465, MA
12,415
Population
4,452
Households
2.8
Avg Household Size
42
Median Age
78%
College-Educated
97%
High-School Grad
2.2 sq mi
ZIP Area
5,643
Density / Sq Mi
$174,518
Median Household Income
$93,021
Median Earnings
$2,251
Median Rent
$1,098,600
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 residential units feature hardwood floors, high ceilings, and additional unfinished attic space.
Where is this duplex located?
The property is located at 59 River St Newton, MA.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: Two‑family duplex with distinct first- and second‑floor residential units; First‑floor layout includes a living room, dining room, two bedrooms, eat‑in kitchen, and one bathroom; Upper unit includes two bedrooms, eat‑in kitchen, one bathroom, and unfinished attic with four separate rooms
