Two-Family Duplex with
For Sale
$1,000,000
74 Chestnut Street, Chelsea, MA 02150
Two residential units offer generous layouts, gas heat, basement space, and a fenced backyard.
Property Size2,960 SF
Price / SF$337.84
Days on Market171
Property Features for 74 Chestnut Street
General Information
Standard status
Active
Size
2,960 SF
Property subtype
Multi-Family
Zoning
BR
Net Operating Income
$72,000
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,310
Amenities
fenced-in backyard
Building Details
Building Size
2,960 SF
Year Built
2001
Buildings
1
Stories
4
Listing Agency:
Sagan Harborside Sotheby's International Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 13
Changed: Aug 29
Last Checked: Aug 29 at 5:31PM
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 Sagan Harborside Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 2001, this 2,960-square-foot duplex contains two residential units with substantial interior layouts. The first-floor residence includes a large living room, combined kitchen and dining area, pantry, two bedrooms, and two full bathrooms. Its lower level adds a family room, office, and storage area. The upper residence spans two floors and provides a living room, combined kitchen and dining area, four bedrooms, and two full bathrooms.
The property includes gas heat with system components from 2001 and 2016, along with three gas hot water tanks installed in 2021, 2022, and 2023. Exterior features include a fenced backyard and on-street parking. Transit access includes the Newburyport/Rockport commuter rail line, the Silver Line, and a nearby bus station at Washington and Chestnut. Mystic Mall is located less than a mile away.
The property includes gas heat with system components from 2001 and 2016, along with three gas hot water tanks installed in 2021, 2022, and 2023. Exterior features include a fenced backyard and on-street parking. Transit access includes the Newburyport/Rockport commuter rail line, the Silver Line, and a nearby bus station at Washington and Chestnut. Mystic Mall is located less than a mile away.
Key Highlights
- 2,960‑square‑foot duplex built in 2001
- First‑floor unit with 2 bedrooms, 2 full baths, and lower‑level living and storage areas
- Upper unit spans 2 floors with 4 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
$56,392
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
5.64%
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%
$1,127,840
$1.1M
Cap Rate 7%
$805,600
$805.6K
Cap Rate 9%
$626,578
$626.6K
Market Conditions
NOI Build-Up for 2,960 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
$85.2K $28.80/SF
− Vacancy
−$4.7K −$1.58/SF
EGI
$80.6K $27.22/SF
− OpEx
−$24.2K −$8.16/SF
NOI
$56.4K $19.05/SF
Area
Suffolk County, MA
Vacancy
5.50%
Lease Rate
$28.80 /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%
$1,127,840
Cap Rate 7%
$805,600
Cap Rate 9%
$626,578
Alternative Uses
Best Use
Multifamily LT 5
$805.6K
$704.9K – $939.9K
NOI $56,392 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$734.6K
$642.7K – $857.0K
NOI $51,419 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,662 @ 7.0% cap · market cap 12.27%
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
1,804
Businesses Nearby
Explore this area
Business Placement
Demographics for 02150, MA
40,721
Population
14,162
Households
2.9
Avg Household Size
34
Median Age
22%
College-Educated
69%
High-School Grad
2.2 sq mi
ZIP Area
18,510
Density / Sq Mi
$72,122
Median Household Income
$41,046
Median Earnings
$1,861
Median Rent
$476,500
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 offer generous layouts, gas heat, basement space, and a fenced backyard.
Where is this duplex located?
The property is located at 74 Chestnut Street Chelsea, MA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 2,960‑square‑foot duplex built in 2001; First‑floor unit with 2 bedrooms, 2 full baths, and lower‑level living and storage areas; Upper unit spans 2 floors with 4 bedrooms and 2 full baths
