Historic Bowfront
For Sale
$3,145,000
110 Appleton St, Boston, MA 02116
Three-unit rowhouse with period detailing, separate-entry rentals, and a prominent architectural presence.
Property Size3,518 SF
Price / SF$893.97
Days on Market115
Property Features for 110 Appleton St
General Information
Standard status
Active
Size
3,518 SF
Property subtype
Multi-Family
Zoning
R-2
Units
Unit Mix
1 x 2BR, 1 x 1BR, 1 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$31,128
Building Details
Building Size
3,518 SF
Year Built
1886
Buildings
1
Stories
6
Listing Agency:
LPT Realty - Home & Key Group
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 12
Changed: Sep 3
Last Checked: Sep 2 at 2:13PM
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 LPT Realty - Home & Key Group
Investment Insights
Based on property information with market context.
Built in 1886, this three-unit bowfront rowhouse combines preserved period character with a flexible residential configuration. The upper residence features a front-to-back double parlor, high ceilings, hardwood flooring, stained glass, two marble fireplaces, a wet bar, and detailed plasterwork. Its kitchen and dining area connect with a sitting room equipped with a fireplace and custom built-ins, while a half bath serves the main level. The upper floor contains two bedrooms and a marble bathroom.
Two additional units have private entrances: a street-level one-bedroom and a garden studio. The property encompasses 3,518 square feet and is zoned R-2. Located at 110 Appleton St in Boston, the rowhouse sits between Dartmouth and Clarendon Streets.
Two additional units have private entrances: a street-level one-bedroom and a garden studio. The property encompasses 3,518 square feet and is zoned R-2. Located at 110 Appleton St in Boston, the rowhouse sits between Dartmouth and Clarendon Streets.
Key Highlights
- 3,518‑square‑foot, three‑unit bowfront rowhouse
- Built in 1886 with preserved plasterwork, hardwood floors, stained glass, and marble fireplaces
- Upper residence includes two bedrooms, a marble bathroom, wet bar, and custom built‑in bookcases
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
$88,246
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
2.81%
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%
$1,764,920
$1.8M
Cap Rate 7%
$1,260,657
$1.3M
Cap Rate 9%
$980,511
$980.5K
Market Conditions
NOI Build-Up for 3,518 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
$133.0K $37.80/SF
− Vacancy
−$6.9K −$1.97/SF
EGI
$126.1K $35.83/SF
− OpEx
−$37.8K −$10.75/SF
NOI
$88.2K $25.08/SF
Area
ZIP 02116
Vacancy
5.20%
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%
$1,764,920
Cap Rate 7%
$1,260,657
Cap Rate 9%
$980,511
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,246 @ 7.0% cap · market cap 2.81%
Second Best
Apartment 5plus
$1.11M
$974.6K – $1.30M
NOI $77,970 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,785 @ 7.0% cap · market cap 4.64%
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
13,355
Businesses Nearby
Explore this area
Business Placement
Demographics for 02116, MA
23,408
Population
14,110
Households
1.7
Avg Household Size
36
Median Age
77%
College-Educated
93%
High-School Grad
0.6 sq mi
ZIP Area
39,013
Density / Sq Mi
$127,309
Median Household Income
$85,296
Median Earnings
$2,341
Median Rent
$1,583,500
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-unit rowhouse with period detailing, separate-entry rentals, and a prominent architectural presence.
Where is this triplex located?
The property is located at 110 Appleton St Boston, MA.
What is the asking price?
The asking price for this property is $3,145,000.
What are key features of this property?
This property features: 3,518‑square‑foot, three‑unit bowfront rowhouse; Built in 1886 with preserved plasterwork, hardwood floors, stained glass, and marble fireplaces; Upper residence includes two bedrooms, a marble bathroom, wet bar, and custom built‑in bookcases
