Corner-Lot Two-Family
For Sale
$1,399,900
Pending
64 Commonwealth Rd, Watertown, MA 02472
Two residences provide distinct layouts, with a two-bedroom lower unit and a substantially larger upper dwelling.
Property Size4,029 SF
Days on Market106
Property Features for 64 Commonwealth Rd
General Information
Standard status
Pending
Size
4,029 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Zoning
T
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,290
Building Details
Building Size
4,029 SF
Year Built
1914
Buildings
1
Stories
3
Units
2
Listing Agency:
Coldwell Banker Realty - Waltham
(781) 258-8331
Listed By:
Brian J. Fitzpatrick
(781) 258-8331
Source:
Aucoinryanrealty
Added: May 19
Changed: Aug 29
Last Checked: Jun 3 at 12:23PM
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 Coldwell Banker Realty - Waltham
Investment Insights
Based on property information with market context.
Built in 1914, this 4,029-square-foot duplex occupies a corner lot in Watertown’s Oakley CC neighborhood. The lower residence includes an open-plan family room and dining area, an updated kitchen, two bedrooms, and two full bathrooms. The upper residence spans two floors and contains five bedrooms, three full bathrooms, a living room with a wood-burning fireplace, a formal dining room with built-in cabinetry, and an updated kitchen.
Upper-level rooms capture Boston skyline views, while country club views extend across the property. The address also offers access to local amenities, transit, and commuter routes. The configuration is presented as suitable for multigenerational living, rental income, or potential condo conversion.
Upper-level rooms capture Boston skyline views, while country club views extend across the property. The address also offers access to local amenities, transit, and commuter routes. The configuration is presented as suitable for multigenerational living, rental income, or potential condo conversion.
Key Highlights
- 4,029‑square‑foot duplex on a corner lot
- Lower unit includes 2 bedrooms and 2 full bathrooms
- Upper residence spans 2 floors with 5 bedrooms and 3 full bathrooms
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
$85,255
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
6.09%
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%
$1,705,100
$1.7M
Cap Rate 7%
$1,217,929
$1.2M
Cap Rate 9%
$947,278
$947.3K
Market Conditions
NOI Build-Up for 4,029 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
$128.1K $31.80/SF
− Vacancy
−$6.3K −$1.57/SF
EGI
$121.8K $30.23/SF
− OpEx
−$36.5K −$9.07/SF
NOI
$85.3K $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%
$1,705,100
Cap Rate 7%
$1,217,929
Cap Rate 9%
$947,278
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,255 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$1.15M
$1.00M – $1.34M
NOI $80,163 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$2.39M
$2.09M – $2.78M
NOI $166,961 @ 7.0% cap · market cap 11.93%
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
1,077
Businesses Nearby
Explore this area
Business Placement
Demographics for 02472, MA
35,392
Population
17,069
Households
2.1
Avg Household Size
39
Median Age
67%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
8,848
Density / Sq Mi
$123,383
Median Household Income
$77,537
Median Earnings
$2,356
Median Rent
$737,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residences provide distinct layouts, with a two-bedroom lower unit and a substantially larger upper dwelling.
Where is this duplex located?
The property is located at 64 Commonwealth Rd Watertown, MA.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: 4,029‑square‑foot duplex on a corner lot; Lower unit includes 2 bedrooms and 2 full bathrooms; Upper residence spans 2 floors with 5 bedrooms and 3 full bathrooms
