Spacious Duplex on Large
For Sale
$900,000
Pending
98 Sumner St., Norwood, MA 02062
Townhouse-style duplex with large lot, ideal for investors/owner-occupants.
Property Size2,376 SF
Lot Size0.97 Acres
Days on Market118
Property Features for 98 Sumner St.
General Information
Standard status
Pending
Size
2,376 SF
Total Parking Spaces
8
Lot size
0.97 Acres
Property subtype
Multi-Family
Building Details
Building Size
2,376 SF
Year Built
1972
Stories
6
Listing Agency:
Keller Williams Realty
(781) 424-6286
Listed By:
Wilson Group
Source:
Cjbarrett
Added: May 3
Changed: Aug 23
Last Checked: Jul 17 at 2:32PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This townhouse-style, side-by-side duplex is set on a 0.97-acre (42,203 sq ft) lot. Each unit features a spacious living room, a full dining room with direct access to the expansive backyard, and a half bath on the main level. Upstairs, each unit includes three bedrooms and a full bath. The basement has new heating systems and offers potential for finishing or storage. The property is located near Route 1, providing access to commuting, shopping, and dining. The property offers opportunities for investors, owner-occupants, or expansion. The property size is 2,376 sq ft.
Key Highlights
- Enormous 0.97‑acre lot offers exceptional potential.
- Townhouse‑style, side‑by‑side property provides space and flexibility.
- Each unit has 3 generously sized bedrooms and a full bath upstairs.
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
$42,562
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
4.73%
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%
$851,240
$851.2K
Cap Rate 7%
$608,029
$608.0K
Cap Rate 9%
$472,911
$472.9K
Market Conditions
NOI Build-Up for 2,376 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
$64.2K $27.00/SF
− Vacancy
−$3.3K −$1.41/SF
EGI
$60.8K $25.59/SF
− OpEx
−$18.2K −$7.68/SF
NOI
$42.6K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$851,240
Cap Rate 7%
$608,029
Cap Rate 9%
$472,911
Alternative Uses
Best Use
Multifamily LT 5
$608.0K
$532.0K – $709.4K
NOI $42,562 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$561.0K
$490.9K – $654.5K
NOI $39,271 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,461 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,004
Businesses Nearby
Explore this area
Business Placement
Demographics for 02062, MA
31,611
Population
13,961
Households
2.3
Avg Household Size
41
Median Age
53%
College-Educated
93%
High-School Grad
10.5 sq mi
ZIP Area
3,011
Density / Sq Mi
$97,110
Median Household Income
$60,434
Median Earnings
$2,056
Median Rent
$613,500
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 - Townhouse-style duplex with large lot, ideal for investors/owner-occupants.
Where is this duplex located?
The property is located at 98 Sumner St. Norwood, 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: Enormous 0.97‑acre lot offers exceptional potential.; Townhouse‑style, side‑by‑side property provides space and flexibility.; Each unit has **3 generously sized bedrooms** and a full bath upstairs.
