Two-Unit Duplex with
For Sale
$1,110,000
63-65 Harvard Street, Winchester, MA 01890
Two-family property with separate residences, individual garage spaces, and additional driveway parking.
Property Size2,186 SF
Days on Market104
Property Features for 63-65 Harvard Street
General Information
Standard status
Active
Size
2,186 SF
Property subtype
2 Family - 2 Units Up/Down
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,374
Building Details
Building Size
2,186 SF
Year Built
1880
Buildings
1
Listing Agency:
Keller Williams Realty Boston Northwest
(781) 862-2800
Listed By:
Beth Sager Group
Source:
Bostonluxurysuburbs
Added: May 9
Changed: Aug 17
Last Checked: Aug 20 at 12:16PM
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 Keller Williams Realty Boston Northwest
Investment Insights
Based on property information with market context.
Built in 1880, this two-family property provides distinct residences with separate living arrangements. The upper residence occupies the second and third floors and includes three bedrooms, two full baths, and a larger multi-level layout. The first-floor residence offers two bedrooms and one full bath, creating a practical configuration for rental income, extended household use, or owner occupancy with a second unit.
Each residence has its own garage space, while the extended driveway provides additional on-site parking. The property is located in Winchester and offers access to Winchester Public Schools. Its two-unit design and varied floor plans support flexible residential income and occupancy options.
Each residence has its own garage space, while the extended driveway provides additional on-site parking. The property is located in Winchester and offers access to Winchester Public Schools. Its two-unit design and varied floor plans support flexible residential income and occupancy options.
Key Highlights
- Two‑family property built in 1880
- Upper residence spans the second and third floors
- Upper unit has 3 bedrooms and 2 full baths
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
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
Explore this area
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
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 with separate residences, individual garage spaces, and additional driveway parking.
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 property built in 1880; Upper residence spans the second and third floors; Upper unit has 3 bedrooms and 2 full baths
