Two-Family Duplex with
For Sale
$1,250,000
62 Thomas Street, Belmont, MA 02478
Two residential units offer multi-level layouts, separate utilities, driveways, and access to a large grassy backyard.
Property Size1,950 SF
Price / SF$641.03
Days on Market145
Property Features for 62 Thomas Street
General Information
Standard status
Active
Size
1,950 SF
Total Parking Spaces
5
Property subtype
Multi-family / 2 Family - 2 Units Side by Side
Zoning
R
Taxes and HOA fees
Annual Taxes
$12,960
Amenities
No
Wood, Vinyl, Carpet
Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer
4.0
Insulated Windows
Full, Interior Access, Concrete Floor
Ceiling Fan(s), Living Room, Kitchen
2
3.00
4
Frame
Shingle
Level
Porch
Building Details
Year Built
1830
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
(617) 489-6900
Listed By:
David Hurley · License #9084910
(617) 489-6900
Source:
Compass
Added: Apr 8
Changed: Aug 29
Last Checked: Aug 29 at 6:49PM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
Investment Insights
Based on property information with market context.
Built in 1830, this 1,950-square-foot duplex contains two residential units with comparable three-level layouts. Each unit includes a living room, kitchen, and half bath on the lower floor; two bedrooms and a full bath on the middle floor; and a third bedroom on the upper level. The property also features wood, vinyl, and carpet flooring, insulated windows, porches, and multiple appliances, including ranges, dishwashers, disposals, microwaves, refrigerators, washers, and dryers. Many updates have been completed.
Two separate driveways provide parking, including access to a one-car garage. Gas, electric, and water utilities are separately metered for the units. The property includes a large grassy backyard and is located near Town Field, Wellington, Belmont Center commuter rail stop, the Harvard Sq bus line, the new library, and the skating rink. Zoning is R.
Two separate driveways provide parking, including access to a one-car garage. Gas, electric, and water utilities are separately metered for the units. The property includes a large grassy backyard and is located near Town Field, Wellington, Belmont Center commuter rail stop, the Harvard Sq bus line, the new library, and the skating rink. Zoning is R.
Key Highlights
- Two residential units with three‑level layouts and three bedrooms per unit
- 1,950 square feet with two separate driveways and a one‑car garage
- Separate gas, electric, and water utilities for each unit
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
$41,263
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
3.30%
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%
$825,260
$825.3K
Cap Rate 7%
$589,471
$589.5K
Cap Rate 9%
$458,478
$458.5K
Market Conditions
NOI Build-Up for 1,950 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
$62.0K $31.80/SF
− Vacancy
−$3.1K −$1.57/SF
EGI
$58.9K $30.23/SF
− OpEx
−$17.7K −$9.07/SF
NOI
$41.3K $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%
$825,260
Cap Rate 7%
$589,471
Cap Rate 9%
$458,478
Alternative Uses
Best Use
Multifamily LT 5
$589.5K
$515.8K – $687.7K
NOI $41,263 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$554.3K
$485.0K – $646.6K
NOI $38,798 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,808 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
777
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 residential units offer multi-level layouts, separate utilities, driveways, and access to a large grassy backyard.
Where is this duplex located?
The property is located at 62 Thomas Street Belmont, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two residential units with three‑level layouts and three bedrooms per unit; 1,950 square feet with two separate driveways and a one‑car garage; Separate gas, electric, and water utilities for each unit
