Multifamily Property in Jamaica
For Sale
$1,649,000
12 Schiller Street, Boston, MA 02130
Well-maintained multifamily property near public transportation and local amenities.
Property Size3,381 SF
Price / SF$487.73
Days on Market88
Property Features for 12 Schiller Street
General Information
Standard status
Active
Size
3,381 SF
Property subtype
Multi-family
Building Details
Year Built
1905
Listing Agency:
Keller Williams South Watuppa
(508) 677-3233
Listed By:
The J. Pavao Team
Source:
Eganrealtygroup
Added: May 19
Changed: Aug 8
Last Checked: Aug 8 at 3:13PM
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 Keller Williams South Watuppa
Investment Insights
Based on property information with market context.
This well-maintained multifamily property is located in the South Mission Hill area of Jamaica Plain, Boston. The property benefits from its proximity to the Green and Orange Lines, major hospitals, universities, and local amenities. The location across from a school provides added openness. Each unit includes hardwood floors, central air, and private rear decks. Off-street parking is available. The property has separate utilities, with tenants responsible for their own heat and electric.
Key Highlights
- Prime Jamaica Plain location with strong access to public transportation (Green and Orange Lines), major hospitals, and universities.
- Well‑maintained multi‑family property in a desirable rental market.
- Each unit features hardwood floors, central air, and private rear decks.
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
$79,427
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
4.82%
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%
$1,588,540
$1.6M
Cap Rate 7%
$1,134,671
$1.1M
Cap Rate 9%
$882,522
$882.5K
Market Conditions
NOI Build-Up for 3,381 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
$150.1K $44.40/SF
− Vacancy
−$5.7K −$1.69/SF
EGI
$144.4K $42.71/SF
− OpEx
−$65.0K −$19.22/SF
NOI
$79.4K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,588,540
Cap Rate 7%
$1,134,671
Cap Rate 9%
$882,522
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$992.8K – $1.32M
NOI $79,427 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.22M – $2.95M
NOI $177,218 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,469
Businesses Nearby
Explore this area
Business Placement
Demographics for 02130, MA
38,284
Population
18,802
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
3.5 sq mi
ZIP Area
10,938
Density / Sq Mi
$130,533
Median Household Income
$73,238
Median Earnings
$2,434
Median Rent
$763,700
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?
Multifamily property - Well-maintained multifamily property near public transportation and local amenities.
Where is this multifamily property located?
The property is located at 12 Schiller Street Boston, MA.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: Prime Jamaica Plain location with strong access to public transportation (Green and Orange Lines), major hospitals, and universities.; Well‑maintained multi‑family property in a desirable rental market.; Each unit features hardwood floors, central air, and private rear decks.
