Updated Duplex with Private
For Sale
$899,000
120 Woodrow Avenue, Boston, MA 02124
Two refreshed units include upgraded systems, outdoor areas, and a long-term lease in place for one unit.
Property Size2,317 SF
Price / SF$388
Days on Market8
Property Features for 120 Woodrow Avenue
General Information
Standard status
Active
Size
2,317 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
backyard oasis
paver stone driveway
patio with a garden area
central A/C
hardwood floors
stainless steel appliances
Corian counters
private rear deck
solar panels
Building Details
Year Built
1905
Listing Agency:
Olde Towne Real Estate Co.
Listed By:
Douglas Bosse
(617) 680-0690
Source:
Inrealtyinc
Added: Sep 6
Changed: Sep 12
Last Checked: Sep 12 at 10:19AM
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 Olde Towne Real Estate Co.
Investment Insights
Based on property information with market context.
Built in 1905, this 2,317-square-foot duplex contains two updated residential units. The bi-level owner’s unit offers two to three bedrooms, two full baths, an updated kitchen with a peninsula, stainless steel appliances, Corian counters, hardwood flooring, and a large private rear deck. It also includes central A/C, while both units benefit from newer heating systems. Solar panels are installed, and the property has updated plumbing, electrical systems, and a newer roof.
Exterior features include a paver-stone driveway with substantial parking, a patio, and a garden area. Unit 1 is leased through 1/31/2027, providing an established income stream. The property is located at 120 Woodrow Avenue in Boston, Massachusetts 02124.
Exterior features include a paver-stone driveway with substantial parking, a patio, and a garden area. Unit 1 is leased through 1/31/2027, providing an established income stream. The property is located at 120 Woodrow Avenue in Boston, Massachusetts 02124.
Key Highlights
- 2,317 SF duplex built in 1905
- Two updated residential units with newer heating systems
- Owner’s unit includes 2–3 bedrooms and 2 full baths
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
$58,549
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
6.51%
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%
$1,170,980
$1.2M
Cap Rate 7%
$836,414
$836.4K
Cap Rate 9%
$650,544
$650.5K
Market Conditions
NOI Build-Up for 2,317 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
$87.6K $37.80/SF
− Vacancy
−$3.9K −$1.70/SF
EGI
$83.6K $36.10/SF
− OpEx
−$25.1K −$10.83/SF
NOI
$58.5K $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%
$1,170,980
Cap Rate 7%
$836,414
Cap Rate 9%
$650,544
Alternative Uses
Best Use
Multifamily LT 5
$836.4K
$731.9K – $975.8K
NOI $58,549 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$777.6K
$680.4K – $907.2K
NOI $54,431 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,448 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - Two refreshed units include upgraded systems, outdoor areas, and a long-term lease in place for one unit.
Where is this duplex located?
The property is located at 120 Woodrow Avenue Boston, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 2,317 SF duplex built in 1905; Two updated residential units with newer heating systems; Owner’s unit includes 2–3 bedrooms and 2 full baths
