Three-Family Residential Income
For Sale
$1,099,000
48 H St, Boston, MA 02127
Semi-detached three-family delivered vacant and in as-is condition, with newer roof and updated heating systems.
Property Size2,088 SF
Price / SF$526.34
Days on Market52
Property Features for 48 H St
General Information
Standard status
Active
Size
2,088 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,982
Building Details
Building Size
2,088 SF
Year Built
1890
Stories
3
Units
3
Tenancy
Multi
Listed By:
Jackie Rooney Team · License #449501011
(617) 645-5370
Source:
Elliman
Added: Jul 16
Changed: Aug 26
Last Checked: Sep 4 at 2:00PM
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 Jackie Rooney Team
Investment Insights
Based on property information with market context.
This semi-detached three-family property offers a spacious residential layout with 5 bedrooms and 3 bathrooms across approximately 2,088 square feet. The home features high ceilings and an open, inviting atmosphere. It is well-maintained, with a newer roof and updated heating systems, and it is being delivered vacant and in “as is” condition, providing flexibility for renovation and cosmetic updates.
Public remarks describe the location as central South Boston. BikeScore is noted at 60, walkScore at 95, and transitScore at 59, suggesting a walkable area with good access to transit.
The property is offered for sale as a residential income opportunity.
Public remarks describe the location as central South Boston. BikeScore is noted at 60, walkScore at 95, and transitScore at 59, suggesting a walkable area with good access to transit.
The property is offered for sale as a residential income opportunity.
Key Highlights
- 1890‑built semi‑detached 3‑family delivered vacant and in as‑is condition
- 5 bedrooms and 3 bathrooms in 2,088 SF of living space
- Newer roof and updated heating systems
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
$52,762
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
4.80%
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%
$1,055,240
$1.1M
Cap Rate 7%
$753,743
$753.7K
Cap Rate 9%
$586,244
$586.2K
Market Conditions
NOI Build-Up for 2,088 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
$78.9K $37.80/SF
− Vacancy
−$3.6K −$1.70/SF
EGI
$75.4K $36.10/SF
− OpEx
−$22.6K −$10.83/SF
NOI
$52.8K $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%
$1,055,240
Cap Rate 7%
$753,743
Cap Rate 9%
$586,244
Alternative Uses
Best Use
Multifamily LT 5
$753.7K
$659.5K – $879.4K
NOI $52,762 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$700.7K
$613.1K – $817.5K
NOI $49,051 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,445 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,052
Businesses Nearby
Explore this area
Business Placement
Demographics for 02127, MA
37,939
Population
19,495
Households
1.9
Avg Household Size
31
Median Age
69%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
18,066
Density / Sq Mi
$156,373
Median Household Income
$85,444
Median Earnings
$2,435
Median Rent
$858,600
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?
Triplex - Semi-detached three-family delivered vacant and in as-is condition, with newer roof and updated heating systems.
Where is this triplex located?
The property is located at 48 H St Boston, MA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 1890‑built semi‑detached 3‑family delivered vacant and in as‑is condition; 5 bedrooms and 3 bathrooms in 2,088 SF of living space; Newer roof and updated heating systems
