Two-Unit Duplex with
For Sale
$1,110,000
63-65 Harvard Street, Winchester, MA 01890
Residential Income, Winchester, MA
Property Size2,186 SF
Lot Size0.12 Acres
Price / SF$507.78
Days on Market130
Property Features for 63-65 Harvard Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RG
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 1
Parking
9
Directions
see GPS
Standard status
Active
APN
897528
Size
2,186 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11374
Building Details
Year built
1880
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty Boston Northwest
(781) 862-2800
Listed By:
Christina Hill
(978) 369-5775
Added: May 9
Changed: Sep 12
Last Checked: Sep 15 at 6:06PM
MLS# 73515601
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family property contains 2,186 square feet within two separate residences. The upper home occupies the second and third floors and includes three bedrooms, two full bathrooms, and living areas arranged across two levels. A two-bedroom, one-bath unit is located on the first floor, creating a distinct second residence with its own layout and access.
Each unit includes a dedicated garage space. A long driveway adds further on-site parking, while the 0.1175-acre parcel provides the setting for the 1880-built property. The address is 63-65 Harvard Street in Winchester, with access to Winchester Public Schools. RG zoning is also identified for the property.
Each unit includes a dedicated garage space. A long driveway adds further on-site parking, while the 0.1175-acre parcel provides the setting for the 1880-built property. The address is 63-65 Harvard Street in Winchester, with access to Winchester Public Schools. RG zoning is also identified for the property.
Key Highlights
- Two‑family duplex with 2,186 square feet on a 0.1175‑acre lot
- Upper residence spans the second and third floors with 3 bedrooms and 2 full baths
- First‑floor unit includes 2 bedrooms and 1 full bath
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
$46,257
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
4.17%
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%
$925,140
$925.1K
Cap Rate 7%
$660,814
$660.8K
Cap Rate 9%
$513,967
$514.0K
Market Conditions
NOI Build-Up for 2,186 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
$69.5K $31.80/SF
− Vacancy
−$3.4K −$1.57/SF
EGI
$66.1K $30.23/SF
− OpEx
−$19.8K −$9.07/SF
NOI
$46.3K $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%
$925,140
Cap Rate 7%
$660,814
Cap Rate 9%
$513,967
Alternative Uses
Best Use
Multifamily LT 5
$660.8K
$578.2K – $771.0K
NOI $46,257 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$621.3K
$543.7K – $724.9K
NOI $43,494 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,587 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
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Business Placement
Demographics for 01890, MA
22,970
Population
8,283
Households
2.8
Avg Household Size
43
Median Age
78%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
3,828
Density / Sq Mi
$218,176
Median Household Income
$107,083
Median Earnings
$2,271
Median Rent
$1,181,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences support owner occupancy, rental income, extended family, or multigenerational living.
Where is this duplex located?
The property is located at 63-65 Harvard Street Winchester, MA.
What is the asking price?
The asking price for this property is $1,110,000.
What are key features of this property?
This property features: Two‑family duplex with 2,186 square feet on a 0.1175‑acre lot; Upper residence spans the second and third floors with 3 bedrooms and 2 full baths; First‑floor unit includes 2 bedrooms and 1 full bath
