Two-Unit Duplex with Separate
For Sale
$850,000
79 Grove, Chelsea, MA 02150
Residential duplex with separate utilities, wood flooring, and a functional multi-bedroom layout.
Property Size2,688 SF
Price / SF$316.22
Days on Market92
Property Features for 79 Grove
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Multi-Family
Zoning
1040
Net Operating Income
$60,000
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,124
Building Details
Building Size
2,688 SF
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Atlantic Properties
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 31 at 12:39PM
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.
This two-unit duplex contains 2,688 square feet and was built in 1900. Each unit is configured with 3 bedrooms, providing a substantial residential layout for the property. Interior details include wood flooring and a kitchen, while separate utilities support independent unit operations.
Located at 79 Grove in Chelsea, Massachusetts, the property offers access to street parking and nearby public transportation, including the Silver Line T station. Shopping, churches, schools, and parks are also identified in the surrounding area. Zoning is designated as 1040.
Located at 79 Grove in Chelsea, Massachusetts, the property offers access to street parking and nearby public transportation, including the Silver Line T station. Shopping, churches, schools, and parks are also identified in the surrounding area. Zoning is designated as 1040.
Key Highlights
- 2,688‑square‑foot duplex with 2 residential units
- Each unit includes 3 bedrooms
- Separate utilities for the two units
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
$51,210
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
6.02%
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%
$1,024,200
$1.0M
Cap Rate 7%
$731,571
$731.6K
Cap Rate 9%
$569,000
$569.0K
Market Conditions
NOI Build-Up for 2,688 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
$77.4K $28.80/SF
− Vacancy
−$4.3K −$1.58/SF
EGI
$73.2K $27.22/SF
− OpEx
−$21.9K −$8.16/SF
NOI
$51.2K $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%
$1,024,200
Cap Rate 7%
$731,571
Cap Rate 9%
$569,000
Alternative Uses
Best Use
Multifamily LT 5
$731.6K
$640.1K – $853.5K
NOI $51,210 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$667.1K
$583.7K – $778.2K
NOI $46,694 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,390 @ 7.0% cap · market cap 13.10%
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
1,867
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 - Residential duplex with separate utilities, wood flooring, and a functional multi-bedroom layout.
Where is this duplex located?
The property is located at 79 Grove Chelsea, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,688‑square‑foot duplex with 2 residential units; Each unit includes 3 bedrooms; Separate utilities for the two units
