Two-Unit Multifamily
For Sale
$1,100,000
104 Greaton Road, Boston, MA 02132
R2-zoned residential property with enclosed porches, a detached garage, and adaptable attic space.
Property Size2,640 SF
Lot Size0.11 Acres
Price / SF$416.67
Days on Market332
Property Features for 104 Greaton Road
General Information
Standard status
Active
Size
2,640 SF
Total Parking Spaces
3
Lot size
0.11 Acres
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
R2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,541
Amenities
private patio
pergola
3-season enclosed porches
City/Town Sewer, Public, for Gas Range
No
Wood, Tile
2.0
Full, Interior Access, Unfinished Basement
2
2.00
Frame
Shingle
Porch - Enclosed
Enclosed
Building Details
Year Built
1910
Listing Agency:
Compass
(617) 905-6445
Listed By:
The Muncey Group · License #BK3153120
(617) 905-6445
Source:
Compass
Added: Oct 5, 2025
Changed: Aug 30
Last Checked: Aug 31 at 10:28PM
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 Compass
Investment Insights
Based on property information with market context.
This 1910 two-unit multifamily property offers 2,640 square feet on a 5,000-square-foot lot in Boston’s West Roxbury area. Interior details include hardwood floors, original woodwork, built-ins, and a combination of wood and tile finishes. A semi-finished attic provides additional adaptable space, while the basement offers interior access and unfinished storage. Multiple enclosed three-season porches extend the usable living area, and a detached garage adds storage capacity.
Outdoor features include a private patio and pergola. The property is near Centre Street shops, Hynes Playground, and Independence Village in Chestnut Hill. Its R2 zoning and two-unit configuration support residential income use or an owner-occupant arrangement, as described for the property.
Outdoor features include a private patio and pergola. The property is near Centre Street shops, Hynes Playground, and Independence Village in Chestnut Hill. Its R2 zoning and two-unit configuration support residential income use or an owner-occupant arrangement, as described for the property.
Key Highlights
- Two‑unit multifamily property with 2,640 square feet
- 5,000‑square‑foot lot with R2 zoning
- Detached garage plus unfinished basement with interior access
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
$66,711
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
6.06%
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%
$1,334,220
$1.3M
Cap Rate 7%
$953,014
$953.0K
Cap Rate 9%
$741,233
$741.2K
Market Conditions
NOI Build-Up for 2,640 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%
$1,334,220
Cap Rate 7%
$953,014
Cap Rate 9%
$741,233
Alternative Uses
Best Use
Multifamily LT 5
$953.0K
$833.9K – $1.11M
NOI $66,711 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$886.0K
$775.2K – $1.03M
NOI $62,019 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,378 @ 7.0% cap · market cap 12.58%
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
1,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 02132, MA
27,111
Population
11,967
Households
2.3
Avg Household Size
44
Median Age
64%
College-Educated
95%
High-School Grad
4.9 sq mi
ZIP Area
5,533
Density / Sq Mi
$139,545
Median Household Income
$75,760
Median Earnings
$2,140
Median Rent
$714,000
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 - R2-zoned residential property with enclosed porches, a detached garage, and adaptable attic space.
Where is this duplex located?
The property is located at 104 Greaton Road Boston, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two‑unit multifamily property with 2,640 square feet; 5,000‑square‑foot lot with R2 zoning; Detached garage plus unfinished basement with interior access
