Corner-Lot Duplex with
For Sale
$1,850,000
66 Walden St, Cambridge, MA 02140
Two residential units pair a three-bedroom upper residence with a separately rented lower unit.
Property Size2,419 SF
Price / SF$764.78
Days on Market111
Property Features for 66 Walden St
General Information
Standard status
Active
Size
2,419 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
99999
Net Operating Income
$40,320
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,229
Amenities
central AC
in-unit laundry
covered front porch
Building Details
Building Size
2,419 SF
Year Built
1903
Stories
4
Listing Agency:
Atlantic Properties
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 14
Changed: Aug 30
Last Checked: Aug 31 at 1:11PM
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 Atlantic Properties
Investment Insights
Based on property information with market context.
Built in 1903, this Cambridge duplex occupies a corner lot and contains two residential units. The upper residence covers the second and third floors with 3 bedrooms, 2 full baths, a living room, formal dining room, eat-in kitchen, central AC, in-unit laundry, and a covered front porch. The lower residence spans the first and second floors and provides 3 bedrooms and 1 bath; it is currently rented below market.
The property includes four off-street parking spaces and is located at 66 Walden St. Porter Square and the Red Line are 0.3 miles away, with Davis Square, Star Market, Pemberton Farms, restaurants, parks, and playgrounds within walking distance. Fresh Pond and Route 2 are also readily accessible.
The property includes four off-street parking spaces and is located at 66 Walden St. Porter Square and the Red Line are 0.3 miles away, with Davis Square, Star Market, Pemberton Farms, restaurants, parks, and playgrounds within walking distance. Fresh Pond and Route 2 are also readily accessible.
Key Highlights
- Two‑family duplex on a corner lot at 66 Walden St, Cambridge, MA 02140
- Upper unit spans the 2nd and 3rd floors with 3 beds and 2 full baths
- Lower unit covers the 1st and 2nd floors with 3 beds and 1 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
$60,678
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
3.28%
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%
$1,213,560
$1.2M
Cap Rate 7%
$866,829
$866.8K
Cap Rate 9%
$674,200
$674.2K
Market Conditions
NOI Build-Up for 2,419 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
$91.4K $37.80/SF
− Vacancy
−$4.8K −$1.97/SF
EGI
$86.7K $35.83/SF
− OpEx
−$26.0K −$10.75/SF
NOI
$60.7K $25.08/SF
Area
Cambridge, MA
Vacancy
5.20%
Lease Rate
$37.80 /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%
$1,213,560
Cap Rate 7%
$866,829
Cap Rate 9%
$674,200
Alternative Uses
Best Use
Multifamily LT 5
$866.8K
$758.5K – $1.01M
NOI $60,678 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$810.1K
$708.9K – $945.2K
NOI $56,709 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$1.86M
$1.63M – $2.18M
NOI $130,545 @ 7.0% cap · market cap 7.06%
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
2,971
Businesses Nearby
Explore this area
Business Placement
Demographics for 02140, MA
21,447
Population
11,117
Households
1.9
Avg Household Size
35
Median Age
79%
College-Educated
95%
High-School Grad
1.2 sq mi
ZIP Area
17,873
Density / Sq Mi
$136,382
Median Household Income
$77,506
Median Earnings
$2,581
Median Rent
$1,070,200
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 pair a three-bedroom upper residence with a separately rented lower unit.
Where is this duplex located?
The property is located at 66 Walden St Cambridge, MA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Two‑family duplex on a corner lot at 66 Walden St, Cambridge, MA 02140; Upper unit spans the 2nd and 3rd floors with 3 beds and 2 full baths; Lower unit covers the 1st and 2nd floors with 3 beds and 1 bath
