Two-Unit Duplex with Outdoor
For Sale
$995,000
8-10 Russell Road, Winchester, MA 01890
Separate heating, hot water, and electrical systems serve each residence, with off-street parking and shared yard access.
Property Size1,800 SF
Price / SF$552.78
Days on Market208
Property Features for 8-10 Russell Road
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
5
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
res
Net Operating Income
$63,000
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,080
Amenities
private deck
private balcony
shared outdoor yard space
City/Town Sewer, Public, Circuit Breakers
No, Yes, .00, Paved Drive, Paved Drive
No
Stone/Ceramic Tile
Range, Dishwasher, Disposal, Refrigerator, Washer, Dryer
2.0
Full
Ceiling Fan(s), Upgraded Countertops, Bathroom With Tub, Remodeled, Internet Available - Unknown, Kitchen, Living RM/Dining RM Combo
2
2.00
Building Details
Year Built
1922
Listing Agency:
Coldwell Banker Realty - Winchester
(781) 729-7290
Listed By:
Rajive Dogra · License #9555157
(781) 729-7290
Source:
Compass
Added: Feb 3
Changed: Aug 30
Last Checked: Aug 30 at 3:47AM
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 - Winchester
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,800 square feet and was built in 1922. The property includes four bedrooms and two full bathrooms, arranged as two residences with a two-bedroom, one-bath layout on each level. Both units offer combined living and dining areas, kitchens, and private outdoor areas; the lower residence opens to a deck, while the upper residence includes a balcony.
Each unit has its own gas heating equipment, hot water system, and breaker panel. Interior features include remodeled areas, upgraded countertops, ceiling fans, bathroom tubs, and a package of appliances including ranges, dishwashers, disposals, refrigerators, washers, and dryers. The property also provides off-street parking through two driveways and shared outdoor yard space. It is zoned res and located at 8-10 Russell Road in Winchester, Massachusetts.
Each unit has its own gas heating equipment, hot water system, and breaker panel. Interior features include remodeled areas, upgraded countertops, ceiling fans, bathroom tubs, and a package of appliances including ranges, dishwashers, disposals, refrigerators, washers, and dryers. The property also provides off-street parking through two driveways and shared outdoor yard space. It is zoned res and located at 8-10 Russell Road in Winchester, Massachusetts.
Key Highlights
- 1,800‑SF duplex with two residential units
- Four bedrooms and two full bathrooms across the property
- Separate gas heating, hot water, and breaker panels for each unit
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
$38,089
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
3.83%
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%
$761,780
$761.8K
Cap Rate 7%
$544,129
$544.1K
Cap Rate 9%
$423,211
$423.2K
Market Conditions
NOI Build-Up for 1,800 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
$57.2K $31.80/SF
− Vacancy
−$2.8K −$1.57/SF
EGI
$54.4K $30.23/SF
− OpEx
−$16.3K −$9.07/SF
NOI
$38.1K $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%
$761,780
Cap Rate 7%
$544,129
Cap Rate 9%
$423,211
Alternative Uses
Best Use
Multifamily LT 5
$544.1K
$476.1K – $634.8K
NOI $38,089 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$511.6K
$447.7K – $596.9K
NOI $35,814 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$1.07M
$932.4K – $1.24M
NOI $74,592 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
815
Businesses Nearby
Explore this area
Business Placement
Demographics for 01890, MA
22,970
Population
8,283
Households
2.8
Avg Household Size
43
Median Age
78%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
3,828
Density / Sq Mi
$218,176
Median Household Income
$107,083
Median Earnings
$2,271
Median Rent
$1,181,700
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 - Separate heating, hot water, and electrical systems serve each residence, with off-street parking and shared yard access.
Where is this duplex located?
The property is located at 8-10 Russell Road Winchester, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 1,800‑SF duplex with two residential units; Four bedrooms and two full bathrooms across the property; Separate gas heating, hot water, and breaker panels for each unit
