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Watertown, MA Multi-Family Houses For Sale
If you’re exploring homes in Watertown as both a place to live and an income generator, a multi-family property is the smartest play on the board. Watertown real estate sits minutes from Kendall Square, Arsenal Yards, and downtown Boston, so rental demand from tech, life-science, and healthcare professionals is consistently strong - helping you offset your mortgage from day one.
Our portal pulls live data straight from MLS PIN, giving you instant access to every two- and three-family listing the moment it hits the market. Compare classic turn-of-the-century two-families with separate utilities to larger triples offering multiple cash-flow streams, all with high-resolution photos, rent rolls when available, and zoning details at a glance. Whether you’re a first-time house-hacker or a seasoned investor adding doors to your portfolio, scroll below to find the Watertown multi-family that matches your strategy and starts working for you right away.
Why Choose a Multi-Family Home in Watertown?
Buying a multi-family home in Watertown turns high-demand Watertown real estate into a built-in income stream. Live in one unit and let renters in the others cover a large slice of the mortgage—or lease every unit and collect pure cash flow. Either way, you build equity in a market that sits minutes from Boston and Cambridge yet commands slightly gentler purchase prices than its neighbors.
Location keeps vacancy risk low. MBTA buses, nearby commuter-rail stops, and quick Mass Pike access draw a steady lineup of biotech employees, grad students, and those who love Arsenal Yards dining and Charles River paths. Add the city’s new MBTA Communities zoning—designed to encourage even more multi-family housing near transit—and today’s purchase positions you for stronger appreciation and rental upside tomorrow.
Watertown Multi-Family Market Insights
Watertown’s multi-family market is characterized by high demand and limited inventory, making it a competitive landscape for buyers. Here are the key statistics for this property type:
- Average List Price: $1,292,952
- Average Days on Market (DOM): 48 days
- Inventory: 12
- Median Home Price Year-Over-Year Change: +10%
With only 12 multi-families on the market, every new listing sparks a mini-auction. Sellers expect clean, full-price offers, and most buildings close in under 50 days - fast enough to punish lowballing but slow enough for a proper inspection.
Your edge lies in value-add. Target properties with under-market rents or dated units you can renovate quickly, then raise income to match Watertown’s 10% annual price climb. Parcels near Arsenal Yards or MBTA bus corridors are even better; forthcoming density bonuses under the MBTA Communities law could let you add an accessory unit and turbo-charge returns.
What zoning details matter most when evaluating a Watertown multi-family?
Watertown’s code designates specific two-family (T) and multi-family (R) districts, and the new MBTA Communities overlay is set to allow even more units near transit—especially around Watertown Square. Always confirm a parcel’s current zoning and lot size; the right designation can open doors for adding a third unit, an ADU, or expanding square footage.
Can I use low-down-payment financing as an owner-occupant?
Yes. Live in one unit and programs such as Fannie Mae HomeReady or standard conventional loans may let you buy a two- to four-family with as little as 5 % down—far friendlier terms than pure-investment loans. The rental income from the other units can also help you qualify.
How healthy is the rental market?
Watertown is a desirable community to live in. Average rents hover near $3,000 a month for a two-bed, fueled by biotech, higher-ed, and hospital employees commuting to Boston and Cambridge. Low vacancy means units lease quickly, giving multi-family owners consistent cash flow and upside on future rent bumps.
Any local landlord rules I should note?
Beyond Massachusetts landlord-tenant law, Watertown recently tightened its definition of “household,” which can affect occupancy limits. Stay on top of local regs covering parking, trash pickup, snow removal, and exterior maintenance; compliance keeps tenants happy and fines off your ledger.
