Two-Unit Residential
New
For Sale
$899,000
103 London St, Boston, MA 02128
Two residential units include an updated apartment and a larger duplex with a currently vacant first floor.
Property Size2,112 SF
Days on Market4
Property Features for 103 London St
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Multifamily
Units
Unit Mix
1 x 2BR/1BA, 1 x 5BR/1.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,019
Building Details
Building Size
2,112 SF
Year Built
1900
Listing Agency:
Carlton's Wharf & Co.
(617) 331-7473
Listed By:
Jorge Rodriguez · License #449587741
Source:
Classifiedrealtygroup
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 22 at 4:04AM
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 Carlton's Wharf & Co.
Investment Insights
Based on property information with market context.
This duplex property contains two residential units with distinct configurations. The first apartment has two bedrooms and one bathroom and has been updated. The second residence is a five-bedroom, 1.5-bathroom duplex arranged across the second and third levels, with living space and a dining room on the second level, plus four bedrooms and a half bathroom above. The first-floor unit is vacant.
Built in 1900, the property is located at 103 London St in Boston’s East Boston area. Maverick Square Station and the Blue Line Maverick MBTA are 0.2 miles away, while the waterfront is nearby and provides direct access to Downtown Boston.
Built in 1900, the property is located at 103 London St in Boston’s East Boston area. Maverick Square Station and the Blue Line Maverick MBTA are 0.2 miles away, while the waterfront is nearby and provides direct access to Downtown Boston.
Key Highlights
- Two‑unit duplex property at 103 London St, Boston, MA 02128
- Unit 1 offers 2 bedrooms and 1 bathroom in an updated apartment
- Unit 2 is a 5‑bedroom, 1.5‑bathroom duplex
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
$53,369
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
5.94%
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%
$1,067,380
$1.1M
Cap Rate 7%
$762,414
$762.4K
Cap Rate 9%
$592,989
$593.0K
Market Conditions
NOI Build-Up for 2,112 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
$79.8K $37.80/SF
− Vacancy
−$3.6K −$1.70/SF
EGI
$76.2K $36.10/SF
− OpEx
−$22.9K −$10.83/SF
NOI
$53.4K $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%
$1,067,380
Cap Rate 7%
$762,414
Cap Rate 9%
$592,989
Alternative Uses
Best Use
Multifamily LT 5
$762.4K
$667.1K – $889.5K
NOI $53,369 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$708.8K
$620.2K – $826.9K
NOI $49,615 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$1.58M
$1.38M – $1.85M
NOI $110,703 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
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 residential units include an updated apartment and a larger duplex with a currently vacant first floor.
Where is this duplex located?
The property is located at 103 London St Boston, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two‑unit duplex property at 103 London St, Boston, MA 02128; Unit 1 offers 2 bedrooms and 1 bathroom in an updated apartment; Unit 2 is a 5‑bedroom, 1.5‑bathroom duplex
