Partially Updated
New
For Sale
$1,500,000
109 Eutaw Street, Boston, MA 02128
Four-unit property with hardwood floors, renovated kitchens, and split-system central air.
Property Size3,848 SF
Price / SF$389.81
Days on Market4
Property Features for 109 Eutaw Street
General Information
Standard status
Active
Size
3,848 SF
Property subtype
4 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Amenities
hardwood floors
renovated kitchens
central air split systems
Building Details
Year Built
1865
Listing Agency:
Coldwell Banker Realty - Boston
(617) 594-4047
Listed By:
AJ Arstamyan
(617) 594-4047
Source:
Lockandkeyre
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 22 at 4:30AM
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 Coldwell Banker Realty - Boston
Investment Insights
Based on property information with market context.
This 3,848-square-foot quadplex contains four residential units and was built in 1865. The property has received partial updates, including hardwood flooring, renovated kitchens, and central air provided through split systems. The first unit has been comprehensively modernized with an updated kitchen and bathroom, contemporary finishes, and central air. Units two through four remain positioned for renovation and further improvement.
The property is located at 109 Eutaw Street in Boston’s East Boston neighborhood, near public transportation, Logan Airport, major highways, and the area’s dining and retail offerings. Its existing four-unit configuration provides a defined multifamily layout, while the differing levels of completion across the units create a range of renovation considerations for the next owner.
The property is located at 109 Eutaw Street in Boston’s East Boston neighborhood, near public transportation, Logan Airport, major highways, and the area’s dining and retail offerings. Its existing four-unit configuration provides a defined multifamily layout, while the differing levels of completion across the units create a range of renovation considerations for the next owner.
Key Highlights
- 3,848 square feet with four residential units
- Built in 1865
- First unit fully modernized with updated kitchen, bathroom, finishes, and central air
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
$97,236
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
6.48%
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%
$1,944,720
$1.9M
Cap Rate 7%
$1,389,086
$1.4M
Cap Rate 9%
$1,080,400
$1.1M
Market Conditions
NOI Build-Up for 3,848 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
$145.5K $37.80/SF
− Vacancy
−$6.5K −$1.70/SF
EGI
$138.9K $36.10/SF
− OpEx
−$41.7K −$10.83/SF
NOI
$97.2K $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%
$1,944,720
Cap Rate 7%
$1,389,086
Cap Rate 9%
$1,080,400
Alternative Uses
Best Use
Multifamily LT 5
$1.39M
$1.22M – $1.62M
NOI $97,236 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,397 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,697 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,553
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?
Quadplex - Four-unit property with hardwood floors, renovated kitchens, and split-system central air.
Where is this quadplex located?
The property is located at 109 Eutaw Street Boston, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 3,848 square feet with four residential units; Built in 1865; First unit fully modernized with updated kitchen, bathroom, finishes, and central air
