
22-24 Olney St Watertown — Photo 1 of 36
$2,190,000
Investment Analysis — 22-24 Olney St
Watertown, MA 02472
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-unit multi-family in 02472 carries an estimated $8,100/mo in gross rent — about a 2.83% cap rate and $61,979/yr in estimated NOI at the $2,190,000 list price. Adjust every assumption in the calculator below.
Beds
7
Baths
4.5
SqFt
3,600
Style
Multi Family
Built
1890
Impeccably renovated two-unit multi-family in the heart of Watertown, combining 7 bedrooms and 4.5 baths across both homes with 3 dedicated parking spaces. Unit 24 spans three levels and is built for family living, with well-chosen finishes throughout. Three generously sized bedrooms and a full bath share the top floor with a versatile bonus area, perfect as a reading nook or arts and crafts space. On the floor below, a primary suite and living area sit alongside a large kitchen and dining space, both filled with natural light and well positioned for comfort and privacy. Stairs lead down to an impressive entry-way with hall tree and bench set-up. Unit 22 brings its own flexibility across two levels. The lower floor can serve as a second primary suite with office, or as private guest quarters, while two full bedrooms upstairs sit on opposite sides of the home for added privacy. A comfortable living area, full bath, and spacious laundry room round out the main level, which enjoys southeastern exposure and feels unusually bright for a first-floor unit. An ample shared driveway offers parking for both households, with room to spare. Each unit can be purchased separately or together as a multi-family opportunity. Come tour these beautifully redesigned homes and imagine the possibilities. 22and24olney.com
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
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Property History
$2,190,000
Sep 23, 2026
MLS® 73581193
$1,000,000
Mar 25, 2025
MLS® 73347112
$999,900
Mar 19, 2025
MLS® 73347112
Listing Agent: Nicholas Mescia
Listing Office: Compass
MLS® Number: 73581193