
55-57 Drew Rd Belmont — Photo 1 of 39
$1,599,990
Investment Analysis — 55-57 Drew Rd
Belmont, MA 02478 — Waverley
Based on rent reported on the MLS listing, a 2-unit multi-family in 02478 carries $3,300/mo in gross rent — about a 1.04% cap rate and $16,587/yr in estimated NOI at the $1,599,990 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
2
SqFt
2,656
Style
Multi Family
Built
1926
Turnkey two-family in Belmont's Waverley area, extensively improved by the current owners and delivered with the upper unit vacant for immediate owner occupancy. Both units offer two bedrooms, a full bath, and updated kitchens with stone counters, upgraded cabinetry, and stainless appliances. All major systems have been replaced throughout: new forced hot air heating and all-new ductwork, central air conditioning, full insulation, new siding and a new driveway, plus renovated baths with new tile and fixtures. Each unit enjoys its own private patio and a dedicated garage bay with tandem parking behind — a rare configuration at this price point. The owner's unit includes a walk-up attic which has been pre-plumbed for future expansion. First-floor unit leased at $3,300/month through 7/14/27 with tenant responsible for all utilities, providing strong in-place income with no near-term vacancy exposure. The basement houses two locked storage areas, one for each unit. Steps to Waverley Square commuter rail, the 73 bus, Cushing Square, and Belmont schools. Ideal for owner-occupants, investors, or 1031 exchange buyers.
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 MLS and other third-party data may be inaccurate or out of date.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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Listing Agent: Matthew Stevens
Listing Office: Stevens Property Group
MLS® Number: 73572862