Duplex Residential Income
For Sale
$749,000
102 Old Harbor Street, Boston, MA 02127
Two-level condominium with updated outdoor space, private laundry, and a primary suite with generous closet storage.
Property Size1,118 SF
Price / SF$669.95
Days on Market98
Property Features for 102 Old Harbor Street
General Information
Standard status
Active
Size
1,118 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
Central Air
Carpet
Hardwood
Forced Air
2.0 Stories
$8,048 Taxes
Public
Built in 1890
Building Details
Year Built
1890
Listing Agency:
Rooney Real Estate, LLC
(617) 269-1000
Listed By:
Jackie Rooney Team
Source:
Donahuere
Added: May 18
Changed: Aug 14
Last Checked: Aug 23 at 2:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rooney Real Estate, LLC
Investment Insights
Based on property information with market context.
This 1,118-square-foot duplex condominium includes two bedrooms and two bathrooms within a layout designed for both shared living and private retreat. The interior features cherrywood hardwood flooring, an open living area, granite countertops, and stainless-steel appliances. The lower level contains the primary en-suite bedroom, a large walk-in closet, and additional storage closets. HVAC and in-unit laundry add everyday functionality.
French doors connect the interior to a newly renovated patio, extending the usable living area outdoors. The property was built in 1890 and is located at 102 Old Harbor Street in Boston, Massachusetts.
French doors connect the interior to a newly renovated patio, extending the usable living area outdoors. The property was built in 1890 and is located at 102 Old Harbor Street in Boston, Massachusetts.
Key Highlights
- 2‑bedroom, 2‑bath duplex condominium with 1,118 square feet
- Lower‑level primary en‑suite bedroom with large walk‑in closet
- Cherrywood hardwood flooring, granite countertops, and stainless‑steel appliances
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
$26,264
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
3.51%
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%
$525,280
$525.3K
Cap Rate 7%
$375,200
$375.2K
Cap Rate 9%
$291,822
$291.8K
Market Conditions
NOI Build-Up for 1,118 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
$49.6K $44.40/SF
− Vacancy
−$1.9K −$1.69/SF
EGI
$47.8K $42.71/SF
− OpEx
−$21.5K −$19.22/SF
NOI
$26.3K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$525,280
Cap Rate 7%
$375,200
Cap Rate 9%
$291,822
Alternative Uses
Best Use
Apartment 5plus
$375.2K
$328.3K – $437.7K
NOI $26,264 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$837.2K
$732.5K – $976.7K
NOI $58,601 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,878
Businesses Nearby
Explore this area
Business Placement
Demographics for 02127, MA
37,939
Population
19,495
Households
1.9
Avg Household Size
31
Median Age
69%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
18,066
Density / Sq Mi
$156,373
Median Household Income
$85,444
Median Earnings
$2,435
Median Rent
$858,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level condominium with updated outdoor space, private laundry, and a primary suite with generous closet storage.
Where is this residential income property located?
The property is located at 102 Old Harbor Street Boston, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath duplex condominium with 1,118 square feet; Lower‑level primary en‑suite bedroom with large walk‑in closet; Cherrywood hardwood flooring, granite countertops, and stainless‑steel appliances
