
149 Palfrey St Watertown — Photo 1 of 37
$1,999,900
Investment Analysis — 149 Palfrey St
Watertown, MA 02472
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 02472 carries an estimated $3,850/mo in gross rent — about a 1.22% cap rate and $24,332/yr in estimated NOI at the $1,999,900 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
1.5
SqFt
2,496
Style
Single Family
Built
1963
PACKAGE SALE ONLY: The $1,999,900 list price includes both 149 and 153 Palfrey Street. The properties must be purchased together and will not be sold separately.149 Palfrey Street is a well maintained three-bedroom ranch offering comfortable living space across the main and lower levels. The home features a fireplaced living room, dining room, den, eat-in kitchen, hardwood floors, central air and an attached garage. The main level includes three bedrooms and a full bath.The substantial lower level provides a recreation room with a second fireplace, half bath, laundry and utility areas, workshop space and abundant storage. The home contains approximately 2,500 square feet of living area, including below-grade space. It is comfortable and move-in ready while offering an opportunity for future personalization.Also included in the sale is the adjacent property at 153 Palfrey Street, an established four-unit residence. Three apartments are currently occupied by tenants at will, and one apartment is vacant.This coordinated package offers the privacy of a detached single-family home together with rental income from four neighboring apartments without sharing walls with tenants. Two adjacent parcels, two buildings and five residences in one distinctive Watertown offering. Cross-reference companion MLS Listing IDs 73573993 and 73573995
ADU Potential
Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 900 sq ft (the lesser of 900 sq ft or half the 2,496 sq ft principal dwelling). Lot size: 5,900 sq ft.
Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.
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 Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Water Heater • Range • Dishwasher • Disposal • Microwave
Neighborhood
Public Transportation • Shopping • Pool • Tennis Court(s) • Park • Walk/Jog Trails
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First23.666666666 x 13.916666666
Closet, Flooring - Hardwood
Dining Room
Lvl Main,First11.666666666 x 11.75
Flooring - Hardwood, Lighting - Pendant
Kitchen
Lvl Main,First13 x 11.75
Ceiling Fan(s), Closet/Cabinets - Custom Built, Flooring - Stone/Ceramic Tile, Dining Area, Pantry, Lighting - Overhead, Beadboard
Family Room
Lvl Basement22.166666666 x 12.583333333
Ceiling Fan(s), Flooring - Wall to Wall Carpet, Cable Hookup
Master Bedroom
Lvl Main,First14.583333333 x 11.583333333
Ceiling Fan(s), Closet, Flooring - Hardwood
Bedroom 2
Lvl Main,First11.166666666 x 10.083333333
Bedroom 3
Lvl Main,First10.583333333 x 14
Ceiling Fan(s), Closet, Flooring - Hardwood, Flooring - Wood
Bathroom 1
Lvl Main,First8 x 8.666666666
Bathroom - Full, Bathroom - Tiled With Tub & Shower, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile
Bathroom 2
Lvl Second8.916666666 x 7
Bathroom - Half, Dryer Hookup - Electric
Listing Agent: Patrick Arone
Listing Office: Colonial Realty Associates, LLC
MLS® Number: 73573985

