Updated Residential Income
For Sale
$534,900
121 E Cottage St, Boston, MA 02125
Two-bedroom layout includes in-unit laundry, deeded parking, and shared fenced outdoor space.
Property Size933 SF
Price / SF$573.31
Days on Market61
Property Features for 121 E Cottage St
General Information
Standard status
Active
Size
933 SF
Total Parking Spaces
2
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
shared outdoor space
basement storage
in-unit laundry
Range
Dishwasher
Disposal
Microwave
Refrigerator
Washer
Dryer
Central Air
Hardwood
Central, Natural Gas
2.0 Stories
$2,495 Taxes
Public
Built in 1895
Building Details
Year Built
1895
Listing Agency:
Coldwell Banker Realty - Cambridge
(617) 864-4430
Listed By:
Alex Langos
Source:
Donahuere
Added: Jun 24
Changed: Aug 7
Last Checked: Aug 23 at 2:26AM
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 - Cambridge
Investment Insights
Based on property information with market context.
This updated 933-square-foot condominium at 121 E Cottage St in Boston offers two bedrooms and one full bathroom. The interior features an open living and dining arrangement, hardwood flooring, a kitchen with stainless steel appliances, granite countertops, and breakfast bar seating. A large tub, in-unit laundry, basement storage, and generous primary-bedroom closet space add practical functionality. Deeded parking for two cars is included.
The property also provides access to fenced shared outdoor space suited to grilling, relaxing, or entertaining. The building dates to 1895, combining the condominium’s refreshed interior with an established residential setting. The home is pet-friendly.
The property also provides access to fenced shared outdoor space suited to grilling, relaxing, or entertaining. The building dates to 1895, combining the condominium’s refreshed interior with an established residential setting. The home is pet-friendly.
Key Highlights
- 933‑square‑foot updated condominium with 2 bedrooms and 1 full bathroom
- Open living and dining layout with hardwood floors
- Kitchen includes stainless steel appliances, granite countertops, and breakfast bar seating
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
$21,918
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
4.10%
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%
$438,360
$438.4K
Cap Rate 7%
$313,114
$313.1K
Cap Rate 9%
$243,533
$243.5K
Market Conditions
NOI Build-Up for 933 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
$41.4K $44.40/SF
− Vacancy
−$1.6K −$1.69/SF
EGI
$39.9K $42.71/SF
− OpEx
−$17.9K −$19.22/SF
NOI
$21.9K $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%
$438,360
Cap Rate 7%
$313,114
Cap Rate 9%
$243,533
Alternative Uses
Best Use
Apartment 5plus
$313.1K
$274.0K – $365.3K
NOI $21,918 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$698.6K
$611.3K – $815.1K
NOI $48,904 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,669
Businesses Nearby
Explore this area
Business Placement
Demographics for 02125, MA
34,926
Population
14,999
Households
2.3
Avg Household Size
32
Median Age
42%
College-Educated
87%
High-School Grad
2.2 sq mi
ZIP Area
15,875
Density / Sq Mi
$71,810
Median Household Income
$52,106
Median Earnings
$1,897
Median Rent
$645,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom layout includes in-unit laundry, deeded parking, and shared fenced outdoor space.
Where is this residential income property located?
The property is located at 121 E Cottage St Boston, MA.
What is the asking price?
The asking price for this property is $534,900.
What are key features of this property?
This property features: 933‑square‑foot updated condominium with 2 bedrooms and 1 full bathroom; Open living and dining layout with hardwood floors; Kitchen includes stainless steel appliances, granite countertops, and breakfast bar seating
