Triplex with Additional
For Sale
$799,000
12 Bungalow Rd, Boston, MA 02132
R3-zoned property with three distinct apartments, private entrances, and a range of residential layouts.
Property Size2,898 SF
Price / SF$275.71
Days on Market91
Property Features for 12 Bungalow Rd
General Information
Standard status
Active
Size
2,898 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
R3
Property Condition
Severity
Repairs Needed
Evidence
in need of significant updates
Units
Unit Mix
1 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,729
Building Details
Building Size
2,898 SF
Year Built
1914
Stories
3
Listing Agency:
Coldwell Banker Realty - Marblehead
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 3
Changed: Aug 30
Last Checked: Aug 31 at 1:14PM
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 - Marblehead
Investment Insights
Based on property information with market context.
This 2,898-square-foot triplex, built in 1914, contains three apartments and requires significant updates. The lower-level unit has one bedroom, a kitchen, living room, full bath, and private entrance. The upper apartments each include two bedrooms, one bath, an eat-in kitchen, living room, office, and sunroom. Overall, the property provides five bedrooms and three full bathrooms.
The sale also includes four small surrounding lots. The property is within walking distance of stores, restaurants, and bus lines serving the Spring and Washington Street area. The seller has indicated that the septic system will be replaced in late July.
The sale also includes four small surrounding lots. The property is within walking distance of stores, restaurants, and bus lines serving the Spring and Washington Street area. The seller has indicated that the septic system will be replaced in late July.
Key Highlights
- Three‑family property with 2,898 SF of living space
- Five bedrooms and three full bathrooms across three apartments
- Lower‑level apartment includes a private entrance and separate 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
$73,230
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
9.17%
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%
$1,464,600
$1.5M
Cap Rate 7%
$1,046,143
$1.0M
Cap Rate 9%
$813,667
$813.7K
Market Conditions
NOI Build-Up for 2,898 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
$109.5K $37.80/SF
− Vacancy
−$4.9K −$1.70/SF
EGI
$104.6K $36.10/SF
− OpEx
−$31.4K −$10.83/SF
NOI
$73.2K $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%
$1,464,600
Cap Rate 7%
$1,046,143
Cap Rate 9%
$813,667
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$915.4K – $1.22M
NOI $73,230 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$972.6K
$851.0K – $1.13M
NOI $68,080 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,902 @ 7.0% cap · market cap 19.01%
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
631
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?
Triplex - R3-zoned property with three distinct apartments, private entrances, and a range of residential layouts.
Where is this triplex located?
The property is located at 12 Bungalow Rd Boston, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Three‑family property with 2,898 SF of living space; Five bedrooms and three full bathrooms across three apartments; Lower‑level apartment includes a private entrance and separate kitchen
