Duplex with Private
New
For Sale
$735,000
6-8 Howell Ct, Chelsea, MA 02150
The two residences sit side by side, with a separate entrance for each unit.
Property Size1,915 SF
Price / SF$383.81
Days on Market3
Property Features for 6-8 Howell Ct
General Information
Standard status
Active
Size
1,915 SF
Property subtype
Multi-Family
Zoning
R3
Net Operating Income
$68,400
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,116
Building Details
Building Size
1,915 SF
Year Built
1930
Buildings
1
Stories
4
Listing Agency:
Unicorn Realty
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Sep 24
Last Checked: Sep 24 at 2:05PM
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 Unicorn Realty
Investment Insights
Based on property information with market context.
This 1,915-square-foot duplex was built in 1930 and contains two side-by-side residences, each with its own entrance. Updates made a few years ago include newer appliances, a dishwasher, granite countertops, luxury vinyl plank flooring, and tiled bathroom floors and showers. A roof was also installed recently.
Long-term tenants are in place. The property is zoned R3.
Long-term tenants are in place. The property is zoned R3.
Key Highlights
- Two side‑by‑side units, each with its own entrance
- 1,915 square feet; built in 1930
- Updates include newer appliances, a dishwasher, granite countertops, luxury vinyl plank flooring, and tiled bathroom floors and showers
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
$36,483
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
4.96%
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%
$729,660
$729.7K
Cap Rate 7%
$521,186
$521.2K
Cap Rate 9%
$405,367
$405.4K
Market Conditions
NOI Build-Up for 1,915 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
$55.2K $28.80/SF
− Vacancy
−$3.0K −$1.58/SF
EGI
$52.1K $27.22/SF
− OpEx
−$15.6K −$8.16/SF
NOI
$36.5K $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%
$729,660
Cap Rate 7%
$521,186
Cap Rate 9%
$405,367
Alternative Uses
Best Use
Multifamily LT 5
$521.2K
$456.0K – $608.1K
NOI $36,483 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$475.2K
$415.8K – $554.4K
NOI $33,266 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$1.13M
$992.0K – $1.32M
NOI $79,357 @ 7.0% cap · market cap 10.80%
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
1,611
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 - The two residences sit side by side, with a separate entrance for each unit.
Where is this duplex located?
The property is located at 6-8 Howell Ct Chelsea, MA.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with its own entrance; 1,915 square feet; built in 1930; Updates include newer appliances, a dishwasher, granite countertops, luxury vinyl plank flooring, and tiled bathroom floors and showers
