Apartment
For Sale
$3,000,000
7-11 Gibbs Ct, Waltham, MA 02452
Residentially zoned apartment property with a gas water heater and paved exterior areas.
Property Size8,100 SF
Price / SF$370.37
Days on Market168
Property Features for 7-11 Gibbs Ct
General Information
Standard status
Active
Size
8,100 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
RES
Taxes and HOA fees
Annual Taxes
$25,794
Amenities
Gas Water Heater
Paved
Building Details
Building Size
8,100 SF
Year Built
1910
Stories
3
Listing Agency:
Longwood Residential, LLC
(774) 223-7994
Listed By:
Karen Williams
(774) 223-7994
Source:
Evrealestate
Added: Mar 18
Changed: Aug 30
Last Checked: Aug 31 at 3:12PM
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 Longwood Residential, LLC
Investment Insights
Based on property information with market context.
This apartment property at 7-11 Gibbs Ct in Waltham, Massachusetts, was built in 1910 and measures 8,100 square feet. The building is classified under RES zoning and includes a gas water heater. Paved exterior areas are also present. The property is located in Middlesex County.
Key Highlights
- 8,100‑square‑foot apartment property
- Built in 1910
- RES zoning
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
$161,163
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
5.37%
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%
$3,223,260
$3.2M
Cap Rate 7%
$2,302,329
$2.3M
Cap Rate 9%
$1,790,700
$1.8M
Market Conditions
NOI Build-Up for 8,100 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
$309.1K $38.16/SF
− Vacancy
−$16.1K −$1.98/SF
EGI
$293.0K $36.18/SF
− OpEx
−$131.9K −$16.28/SF
NOI
$161.2K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
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%
$3,223,260
Cap Rate 7%
$2,302,329
Cap Rate 9%
$1,790,700
Alternative Uses
Best Use
Apartment 5plus
$2.30M
$2.01M – $2.69M
NOI $161,163 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.80M
$4.20M – $5.59M
NOI $335,662 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 02452, MA
15,340
Population
5,838
Households
2.6
Avg Household Size
33
Median Age
54%
College-Educated
93%
High-School Grad
3.8 sq mi
ZIP Area
4,037
Density / Sq Mi
$112,902
Median Household Income
$41,351
Median Earnings
$2,325
Median Rent
$779,900
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?
Apartment building - Residentially zoned apartment property with a gas water heater and paved exterior areas.
Where is this apartment building located?
The property is located at 7-11 Gibbs Ct Waltham, MA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 8,100‑square‑foot apartment property; Built in 1910; RES zoning
