Three-Unit Residential Income
For Sale
$1,349,900
106 Barnes Avenue, Boston, MA 02128
Three residential units with off-street parking and in-unit laundry, plus a yard.
Property Size3,977 SF
Price / SF$339.43
Days on Market55
Property Features for 106 Barnes Avenue
General Information
Standard status
Active
Size
3,977 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1960
Listing Agency:
Compass
Listed By:
Skambas Realty Group
(781) 933-2500
Source:
Highlandre
Added: Jul 13
Changed: Sep 4
Last Checked: Sep 4 at 10:11AM
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.
106 Barnes Avenue is a three-family residential income property offering spacious units across three levels. The first-floor lower level unit includes three bedrooms and recently updated features such as an open-concept kitchen with an electric stove and wall oven, a spacious living room, and a full bath. The second-floor unit has three bedrooms and hardwood floors, along with a kitchen, one full bath, and in-unit washer/dryer. The third-floor unit offers two bedrooms with a kitchen featuring granite countertops, shaker cabinetry, and a tile backsplash, plus a generous dining area and two full baths, including a glass-enclosed shower and dual vanities, with in-unit washer/dryer.
The property includes off-street parking and a nice-size back yard. It is conveniently located near the Blue Line, Constitution Beach, shopping, restaurants, parks, major routes, and Logan Airport.
The property includes off-street parking and a nice-size back yard. It is conveniently located near the Blue Line, Constitution Beach, shopping, restaurants, parks, major routes, and Logan Airport.
Key Highlights
- 3‑family property built in 1960 in East Boston’s Orient Heights neighborhood
- Off‑street parking plus a nice‑size back yard
- First‑floor unit: 3 bedrooms, full bath, recently renovated updates with open‑concept kitchen
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
$100,496
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
7.44%
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%
$2,009,920
$2.0M
Cap Rate 7%
$1,435,657
$1.4M
Cap Rate 9%
$1,116,622
$1.1M
Market Conditions
NOI Build-Up for 3,977 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
$150.3K $37.80/SF
− Vacancy
−$6.8K −$1.70/SF
EGI
$143.6K $36.10/SF
− OpEx
−$43.1K −$10.83/SF
NOI
$100.5K $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%
$2,009,920
Cap Rate 7%
$1,435,657
Cap Rate 9%
$1,116,622
Alternative Uses
Best Use
Multifamily LT 5
$1.44M
$1.26M – $1.67M
NOI $100,496 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$1.33M
$1.17M – $1.56M
NOI $93,428 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$2.98M
$2.61M – $3.47M
NOI $208,458 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
440
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units with off-street parking and in-unit laundry, plus a yard.
Where is this triplex located?
The property is located at 106 Barnes Avenue Boston, MA.
What is the asking price?
The asking price for this property is $1,349,900.
What are key features of this property?
This property features: 3‑family property built in 1960 in East Boston’s Orient Heights neighborhood; Off‑street parking plus a nice‑size back yard; First‑floor unit: 3 bedrooms, full bath, recently renovated updates with open‑concept kitchen
