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Two-Unit Home Sells In Newton Corner For $1.3M With Mark Ruane Of Mgs Group Real Estate

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SOLD
$1,300,000

Massachusetts

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MultiFamily5,012 SF
Sold 03/19/2024
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Property Image
SOLD

Two-Unit Home Sells In Newton Corner For $1.3M With Mark Ruane Of Mgs Group Real Estate

29 Bennington Street & 31 Bennington Street

See Similar Deals
MultiFamily5,012 SF
Sold 03/19/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$259
Total Square Footage:5,012 SF
Transaction Type:Sale

A fully leased two-unit home located at 29-31 Bennington Street in Newton, MA, was sold for $1,300,000. The property spans 2,506 square feet and was sold at a price of $519 per square foot. The multifamily asset in Newton Corner offers updated features such as central air, hardwood flooring, and private laundry facilities, making it a prime investment opportunity.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,300,000
  • Units: 2
  • Price per Unit: $650,000
  • Square Footage: 2,506
  • Price per Square Foot: $519
  • Address: 29-31 Bennington Street
  • Market: Newton, MA
  • Broker: Mark Ruane - Mgs Group Real Estate

Mark Ruane from Mgs Group Real Estate represented the parties involved in the transaction, facilitating the sale of this lucrative property in Newton Corner. The deal for the fully leased multifamily asset underscores the demand for well-maintained properties in desirable locations, showcasing the expertise of the broker in navigating successful real estate transactions.

Players

Mark Ruane
2 deals$2.6M volume(508) 612-6217
BROKER

Details

SOLD
IMAGE: Mark Ruane DATE: 03/19/2024 ADDRESS: 29-31 Bennington Street MARKET: Newton, MA ASSET TYPE: Multifamily BROKER: Mark Ruane (@MRuane8295) - Mgs Group Real Estate (@MgsGroupRealEstate) SALE PRICE: $1,300,000 UNITS: 2 ~ PPU: $650,000 SF: 2,506 ~ PPSF: $519 NOTE: A fully leased two-unit home in Newton Corner sold for $519 per square foot, boasting updated features such as central air, hardwood flooring, and private laundry—a prime investment opportunity.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$69,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,618.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,162.66
Annual Debt Service$73,951.96