Duplex with Fenced
For Sale
$1,195,000
8 Damon, Wayland, MA 01778
Two-family property with flexible bedroom layouts, finished lower-level space, off-street parking, and access to shared laundry.
Property Size3,100 SF
Lot Size0.55 Acres
Price / SF$385.48
Days on Market11
Property Features for 8 Damon
General Information
Standard status
Active
Size
3,100 SF
Lot size
0.55 Acres
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
shared laundry
off-street parking
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Coldwell Banker Realty - Wellesley
Listed By:
John McHugh Real Estate Group
(978) 902-5646
Source:
Elevatedboston
Added: Sep 5
Changed: Sep 15
Last Checked: Sep 15 at 7:26AM
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 - Wellesley
Investment Insights
Based on property information with market context.
This 3,100-square-foot duplex, built in 1950, includes two residential units with distinct layouts. Unit 1 offers two bedrooms, a den, an open living arrangement, and a finished lower-level room suitable for office, exercise, or media use. Unit 2 spans two levels and provides three to four bedrooms, a newer kitchen with updated cabinets and appliances, a modern bathroom, engineered hardwood flooring, fresh paint, and substantial closet space. Basement laundry serves the property.
Set on a 0.55-acre fenced lot at 8 Damon in Wayland, the property also includes off-street parking and a lead compliance certificate. Zoning is BUSA. Routes 27 and 9, the Mass Pike, and Cochituate State Park are within the stated access area.
Set on a 0.55-acre fenced lot at 8 Damon in Wayland, the property also includes off-street parking and a lead compliance certificate. Zoning is BUSA. Routes 27 and 9, the Mass Pike, and Cochituate State Park are within the stated access area.
Key Highlights
- 3,100‑square‑foot duplex on a 0.55‑acre fenced lot
- Unit 1 includes two bedrooms, a den, and a finished lower‑level room
- Unit 2 spans two levels with three to four bedrooms
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
$65,597
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
5.49%
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%
$1,311,940
$1.3M
Cap Rate 7%
$937,100
$937.1K
Cap Rate 9%
$728,856
$728.9K
Market Conditions
NOI Build-Up for 3,100 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
$98.6K $31.80/SF
− Vacancy
−$4.9K −$1.57/SF
EGI
$93.7K $30.23/SF
− OpEx
−$28.1K −$9.07/SF
NOI
$65.6K $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%
$1,311,940
Cap Rate 7%
$937,100
Cap Rate 9%
$728,856
Alternative Uses
Best Use
Multifamily LT 5
$937.1K
$820.0K – $1.09M
NOI $65,597 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$881.1K
$771.0K – $1.03M
NOI $61,680 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,463 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Explore this area
Business Placement
Demographics for 01778, MA
14,132
Population
5,136
Households
2.8
Avg Household Size
45
Median Age
78%
College-Educated
98%
High-School Grad
15.0 sq mi
ZIP Area
942
Density / Sq Mi
$219,531
Median Household Income
$106,935
Median Earnings
$1,403
Median Rent
$935,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with flexible bedroom layouts, finished lower-level space, off-street parking, and access to shared laundry.
Where is this duplex located?
The property is located at 8 Damon Wayland, MA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 3,100‑square‑foot duplex on a 0.55‑acre fenced lot; Unit 1 includes two bedrooms, a den, and a finished lower‑level room; Unit 2 spans two levels with three to four bedrooms
