
128 Washington Avenue Chelsea — Photo 1 of 34
$769,900
Investment Analysis — 128 Washington Avenue
Chelsea, MA 02150 — Bellingham Square
Based on rent reported on the MLS listing plus HUD Small Area Fair Market Rent for 1 vacant unit, a 2-unit multi-family in 02150 carries an estimated $5,500/mo in gross rent — about a 5.57% cap rate and $42,863/yr in estimated NOI at the $769,900 list price. Adjust every assumption in the calculator below.
Beds
5
Baths
2
SqFt
2,112
Style
Multi Family
Built
1900
Just over the Tobin sits this classic brick 2-family offering 2,112 SF across 4 levels, one rented unit and one vacant unit. For an owner-occupant, the numbers actually work—move into the vacant unit and let Unit 1’s $2,350/month rent help offset the mortgage. Unit 1: rented at $2,350/mo, 2BR/1BA over 2 levels with hardwood floors, in-unit laundry, storage and direct access to a private fenced backyard. Unit 2: vacant and move-in ready, 3BR*/1BA across 3 levels with SOARING CEILINGS, oversized windows, exposed brick, UPDATED kitchen, NEW APPLIANCES and laundry hookups. Major improvements include NEWER ROOF, heating systems & WATER HEATERS, plus electrical, masonry, railing, fascia/flashing and flooring updates. Separate utilities. John Ruiz Park across the street; Mystic Mall puts Market Basket, Home Goods and TJ Maxx within easy reach, while local favorites Chelsea Station Restaurant Bar & Lounge, Ciao! Pizza & Pasta &Katz Bagel Bakery all nearby. Craving steak tips? New Bridge Café just down the street. 111 bus service outside the front door that goes to Haymarket & Government Center. Chelsea MBTA Commuter Rail nearby. Bellingham Square T stop and the SL3 offer direct service to South Station, with continued public investment reshaping the Broadway corridor. Boston access without the Boston price tag—and plenty of Chelsea flavor along the way. Unit 1 is occupied & to be seen at open houses. Open houses on Friday, September 18th from 6:30pm - 7:30pm and Saturday, September 19th from 11:30am - 1pm. Offers due 9/22 at 10am.
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.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Neighborhood
Public Transportation • Shopping • Park • Medical Facility • Highway Access • Public School
Geography
Property History
$769,900
Sep 16, 2026
MLS® 73578321
$2,700
Oct 21, 2025
MLS® 73428397
$2,700
Sep 9, 2025
MLS® 73428397
Listing Agent: Lindsay Higgins
Listing Office: The Market
MLS® Number: 73578321

