204 School St # 2

Watertown

Watertown is one of the most underrated value plays in Greater Boston, a small city of around 35,000 people just 6 miles west of downtown, bordered by Cambridge to the east, Newton to the south across the Charles River, and Belmont to the north. The median sale price runs around $825,000 across all home types, with single family homes trading closer to $950,000, materially below Newton next door for the same commute and Charles River access. Watertown has been transformed in recent years by the Arsenal Yards life sciences and mixed use development, and the 2024 adoption of MBTA Communities 3A zoning around Watertown Square has opened by right multifamily in the commercial core. The housing stock is unusually multifamily heavy for the corridor, with duplexes and converted small apartment buildings making up over 40 percent of inventory, which makes Watertown one of the strongest small multifamily markets in the region.