Duplex with Central
For Sale
$1,299,900
27 Houghton St, Boston, MA 02122
Residential Income, Boston, MA
Property Size2,639 SF
Lot Size0.12 Acres
Price / SF$492.57
Days on Market28
Property Features for 27 Houghton St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 6, Bedroom 5, Bedroom 7, Bedroom 1, Bedroom 2, Bathroom 2
Parking
5
Directions
off Popes Hill St (Houghton St is a one-way street).
Subdivision
Dorchester
Standard status
Active
APN
4832255
Size
2,639 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10701
Amenities
in-unit laundry
central AC
Building Details
Year built
1905
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty
(508) 238-5000
Listed By:
Scott Morris
(508) 238-5000
Added: Aug 4
Changed: Aug 19
Last Checked: Aug 31 at 3:06AM
MLS# 73559012
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This R2-zoned duplex contains 2,639 square feet on a 0.1206-acre lot and was built in 1905. The first residence includes five rooms, two to three bedrooms, and one full tiled bathroom. The upper residence spans two levels with seven rooms, five bedrooms, and two full bathrooms. Property improvements include Hardie Board siding, hardwood flooring, vinyl replacement windows, an updated roof, tankless water heaters, updated plumbing, and two newer HVAC systems with central AC. Each unit has in-unit laundry, while the partially finished basement provides additional storage or work area.
The property is located at 27 Houghton St in Boston’s Neponset area, near highway access, restaurants, stores, McMorrow Playground, UMASS Boston, and Castle Island. A low-maintenance yard and rear off-street parking area accommodate multiple cars.
The property is located at 27 Houghton St in Boston’s Neponset area, near highway access, restaurants, stores, McMorrow Playground, UMASS Boston, and Castle Island. A low-maintenance yard and rear off-street parking area accommodate multiple cars.
Key Highlights
- 2,639 SF duplex on a 0.1206‑acre lot
- R2 zoning with two residential units
- First unit: 5 rooms, 2‑3 bedrooms, and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,686
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,333,720
$1.3M
Cap Rate 7%
$952,657
$952.7K
Cap Rate 9%
$740,956
$741.0K
Market Conditions
NOI Build-Up for 2,639 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$99.8K $37.80/SF
− Vacancy
−$4.5K −$1.70/SF
EGI
$95.3K $36.10/SF
− OpEx
−$28.6K −$10.83/SF
NOI
$66.7K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,333,720
Cap Rate 7%
$952,657
Cap Rate 9%
$740,956
Alternative Uses
Best Use
Multifamily LT 5
$952.7K
$833.6K – $1.11M
NOI $66,686 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$885.6K
$774.9K – $1.03M
NOI $61,995 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,326 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,419
Businesses Nearby
Explore this area
Business Placement
Demographics for 02122, MA
24,385
Population
10,039
Households
2.4
Avg Household Size
35
Median Age
38%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
14,344
Density / Sq Mi
$82,945
Median Household Income
$53,897
Median Earnings
$2,052
Median Rent
$656,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer updated systems, private laundry, hardwood floors, and rear parking for multiple vehicles.
Where is this duplex located?
The property is located at 27 Houghton St Boston, MA.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: 2,639 SF duplex on a 0.1206‑acre lot; R2 zoning with two residential units; First unit: 5 rooms, 2‑3 bedrooms, and 1 full bathroom
