1 Watermill Pl #316 Arlington — Photo 1 of 38
Recent Drop: $34,900
$695,000
Investment Analysis — 1 Watermill Pl #316
Arlington, MA 02476 — Arlington Heights
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-bedroom in 02476 carries an estimated $2,580/mo in gross rent — about a 1.18% cap rate and $8,187/yr in estimated NOI at the $695,000 list price. Adjust every assumption in the calculator below.
Beds
2
Baths
2
SqFt
1,088
Style
Condominium
Built
1988
Rare offering of a sun filled unit on the westerly side of Watermill Place with a bay window offering views of a tree lined landscaped buffer. Impeccably maintained 3rd floor unit with high quality finishes. The owner completed a full kitchen renovation in 2008 with high end cabinets, appliances, and counter tops. Both bathrooms were renovated in 2012 by Custom Contracting. Watermill Place is a meticulously maintained building with top quality materials and recent capital upgrades including a roof replacement (2015), new windows, exterior envelope, unit doors (2020), paving and garage waterproofing (2024). Conveniently located within walking distance to E. Arlington Center and adjacent to Minuteman Bikeway and historic Old Schwamb Mill. Fitness room with recently purchased equipment. A parking space is included. Open House Saturday 4/11 from 11am-1pm.
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 MLS and other third-party data may be inaccurate or out of date.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.
Immersive Experience
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Range • Dishwasher • Disposal • Microwave • Refrigerator • Washer/Dryer • Range Hood
Neighborhood
Public Transportation • Shopping • Walk/Jog Trails • Bike Path
Geography
Property History
$695,000
Was $699,900
Sep 2, 2026
MLS® 73499668
$699,900
Was $719,000
Jun 4, 2026
MLS® 73499668
$719,000
Was $729,900
May 4, 2026
MLS® 73499668
$729,900
Apr 10, 2026
MLS® 73499668
Listing Agent: Michael Fisher
Listing Office: Realty Advisors
MLS® Number: 73499668
