3 Family at 248 Washington Street, Norwood MA 02062
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$1,150,000

248 Washington Street, Norwood MA 02062
Norwood, MA 02062
Listed by Michael Lord
Bedrooms
7
Bathrooms
3
Living area
2,488 sqft
Year built
1959

About this home

Exceptional investment opportunity near the Westwood line, offering an attractive 7%+ cap rate with additional upside potential from below-market rents! This recently renovated three-family property combines strong cash flow with a solid rental history. Each of the three spacious units features updated kitchens with newer appliances, renovated bathrooms, generously sized rooms, and separate utilities. Recent improvements include newer roofs and low-maintenance siding. Additional highlights include ample off-street parking, a shared yard, separate laundry facilities, and basement storage. Ideally located in a commuter-friendly neighborhood within walking distance to the train, shops, restaurants, and supermarkets. Comparable monthly rents within the complex are approximately $2,650, $2,650, and $3,700, offering potential for future income growth. A turnkey investment opportunity with immediate cash flow and long-term appreciation potential!

Property details

MLS
MLS Property Information Network
MLS #
73568240
Property type
3 Family
Subdivision
N/A
Status
Active
Days on market
62
On market date
August 26, 2026
Stories
3
Total bathrooms
3
Garage spaces
N/A
Parking spaces
6
Lot size
0.11 acres
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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.

Elementary
John P Oldham
0.49 mi away · Grades 1-5
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
268
Student:teacher ratio
11.7:1
District
Norwood
Middle
E W Thurston Middle
1.71 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
662
Student:teacher ratio
12.0:1
District
Westwood
High
Westwood High
1.39 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
952
Student:teacher ratio
12.4:1
District
Westwood

Walkability

Blended score for Norwood's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

64
Walkable
out of 100
EPA National Walkability Index
8.0 / 20 -- Below average walkable
Google Places amenity density
100 / 100
Restaurants & cafes20
Grocery stores7
Parks10
Schools12
Transit stops20
Pharmacies2

Market position

How this listing compares to current activity in Norwood, from live MLS data.

On the market 62 days -- 45 fewer days than Norwood's current average of 107 days.
For reference, the median list price across 164 active listings in Norwood right now is $569,500.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$7,075/mo
$230,000 down
$920,000 loan
Principal & interest$5,967
Property tax (est.)$958
Home insurance (est.)$150

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Data source: Listing information provided by MLS Property Information Network via Trestle/CoreLogic. Last updated 4 days ago.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.