Well-Maintained Multi-Family
For Sale
$1,575,000
12 Schiller St, Boston, MA 02130
Updated units feature hardwood floors, central air, private rear decks, and tenant-paid heat and electric.
Property Size3,381 SF
Price / SF$465.84
Days on Market91
Property Features for 12 Schiller St
General Information
Standard status
Active
Size
3,381 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
R3
Taxes and HOA fees
Annual Taxes
$19,852
Building Details
Building Size
3,381 SF
Year Built
1905
Stories
3
Listing Agency:
Coldwell Banker Realty - Westford
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 23
Changed: Aug 20
Last Checked: Aug 20 at 4:25AM
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 - Westford
Investment Insights
Based on property information with market context.
Well-maintained multi-family property offering comfortable, functional unit layouts. Each unit includes hardwood floors and central air, along with a private rear deck for everyday outdoor space. The building also provides off-street parking, adding practical convenience for residents and guests. Utilities are separated, with tenants paying their own heat and electric, supporting straightforward building operations.
Located in Jamaica Plain, the property offers strong access to public transportation and is positioned near both the Green and Orange Lines. It is also near major hospitals, universities, and local amenities. The building sits across from a school, which contributes to an open streetscape and fewer immediately adjacent residences.
This property is well suited for investors and owner-operators seeking a residential income asset with consistent in-unit features and tenant-paid utilities. The combination of central air, in-unit deck space, and off-street parking can help support everyday resident satisfaction while keeping operating expenses more manageable through separate utility responsibility.
Located in Jamaica Plain, the property offers strong access to public transportation and is positioned near both the Green and Orange Lines. It is also near major hospitals, universities, and local amenities. The building sits across from a school, which contributes to an open streetscape and fewer immediately adjacent residences.
This property is well suited for investors and owner-operators seeking a residential income asset with consistent in-unit features and tenant-paid utilities. The combination of central air, in-unit deck space, and off-street parking can help support everyday resident satisfaction while keeping operating expenses more manageable through separate utility responsibility.
Key Highlights
- Multi‑family property built in 1905, well maintained
- Updated units feature hardwood floors and central air
- Each unit has a private rear deck
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
5.04%
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 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.22M – $2.95M
NOI $177,218 @ 7.0% cap · market cap 11.25%
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 - Updated units feature hardwood floors, central air, private rear decks, and tenant-paid heat and electric.
Where is this multifamily property located?
The property is located at 12 Schiller St Boston, MA.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Multi‑family property built in 1905, well maintained; Updated units feature hardwood floors and central air; Each unit has a private rear deck
