Two-Family Residential Income
97 Washington Avenue Chelsea, MA 02150
97 Washington Avenue, Chelsea, MA, 02150
$900,000
For Sale
$900,000
Well-maintained two-family home with a finished two-level upper unit and partially finished basement.
Property Size2,016 SF
Price / SF$446.43
Days on Market136
Property Features for 97 Washington Avenue
General Information
- Standard status
- Active
- Size
- 2,016 SF
- Property subtype
- Multi-family / 2 Family
Building Details
- Year Built
- 1910
Listing agency
Re-yes Real Estate
(781) 780-3041
Listed by
Pablo E. Aguirre · License #9501397
(781) 780-3041
Source
Compass
Added: Mar 7 Updated: Jul 21 at 3:20AM Checked: Jul 21 at 3:20AM
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 Re-yes Real Estate
Investment Insights
Based on property information with market context.
This well-maintained two-family residential income property offers two separate living setups within one building. The first floor includes two bedrooms, a living room, a full bathroom, and an eat-in kitchen. The second unit spans two levels and features three bedrooms, an eat-in kitchen, office space, a living room, and an updated bathroom, with vinyl floors throughout. A partially finished basement adds additional flexibility, including a half bathroom, with potential for an ADU.
The property is centrally located near public transportation, including bus routes, the Silver Line, and train stations, with restaurants, shops, and convenience stores within walking distance.
Renovated in 2003, the home has been in the same family for more than 20 years and is now offered for sale to the next owner.
The property is centrally located near public transportation, including bus routes, the Silver Line, and train stations, with restaurants, shops, and convenience stores within walking distance.
Renovated in 2003, the home has been in the same family for more than 20 years and is now offered for sale to the next owner.
Key Highlights
- Two‑family home built in 1910, renovated in 2003, with vinyl and hardwood/wood flooring.
- First‑floor unit: 2 bedrooms, living room, full bathroom, and eat‑in kitchen.
- Second unit spans two levels with 3 bedrooms, eat‑in kitchen, office space, living room, updated bathroom, and vinyl floors.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.1k | $28.80 |
| − Vacancy | −$3.2k | −$1.58 |
| EGI | $54.9k | $27.22 |
| − OpEx | −$16.5k | −$8.16 |
| NOI | $38.4k | $19.05 |
2,016 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$548.7K
$480.1K – $640.1K
NOI $38,407 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$500.3K
$437.8K – $583.7K
NOI $35,020 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,543 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with a finished two-level upper unit and partially finished basement.
Where is this duplex located?
The property is located at 97 Washington Avenue Chelsea, MA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Two‑family home built in 1910, renovated in 2003, with vinyl and hardwood/wood flooring.; First‑floor unit: 2 bedrooms, living room, full bathroom, and eat‑in kitchen.; Second unit spans two levels with 3 bedrooms, eat‑in kitchen, office space, living room, updated bathroom, and vinyl floors.
