Multi-Level Live-Work
For Sale
$3,595,000
Pending
45 Parley Ave, Boston, MA 02130
Multi-level live-work home with direct yard access, multiple kitchens, and wellness amenities including sauna, whirlpool, and swimming pool.
Property Size6,440 SF
Days on Market54
Property Features for 45 Parley Ave
General Information
Standard status
Pending
Size
6,440 SF
Total Parking Spaces
1
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$42,229
Building Details
Year Built
1899
Listing Agency:
LandVest, Inc
(781) 933-2500
Listed By:
Amy Donovan
Source:
Kiklisre
Added: Jul 14
Changed: Aug 8
Last Checked: Jul 28 at 4:13AM
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 LandVest, Inc
Investment Insights
Based on property information with market context.
Re-introducing 45 Parley Ave, a multi-level live-work residence designed to support flexible living and entertaining. The main level overlooks a landscaped yard featuring a pond and waterfall, and the kitchen provides direct access to an oversized 1-car garage with an EV charger. The second level includes a spacious primary suite with a spa-like bath and an attached sundeck, along with smaller flex rooms suitable for home offices or additional bedrooms.
The third level is set up for in-laws, visitors, or an au pair, with its own kitchen, two bedrooms, and a full bath. The lower level flows directly to the outside and offers its own kitchen and full bath, creating an additional entertaining and wellness space. Wellness amenities include a sauna, whirlpool, and an endless swimming pool.
The property is sited on a private road in a tight-knit neighborhood, offering a combination of privacy and urban convenience, with downtown Boston located just minutes away.
The third level is set up for in-laws, visitors, or an au pair, with its own kitchen, two bedrooms, and a full bath. The lower level flows directly to the outside and offers its own kitchen and full bath, creating an additional entertaining and wellness space. Wellness amenities include a sauna, whirlpool, and an endless swimming pool.
The property is sited on a private road in a tight-knit neighborhood, offering a combination of privacy and urban convenience, with downtown Boston located just minutes away.
Key Highlights
- Year built 1899 with a multi‑level layout designed for multi‑generational living and entertaining
- Main level overlooks a landscaped yard with a pond and waterfall
- Oversized 1‑car garage with direct kitchen access and an EV charger
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
$189,877
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
5.28%
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%
$3,797,540
$3.8M
Cap Rate 7%
$2,712,529
$2.7M
Cap Rate 9%
$2,109,744
$2.1M
Market Conditions
NOI Build-Up for 6,440 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
$324.6K $50.40/SF
− Vacancy
−$71.4K −$11.09/SF
EGI
$253.2K $39.31/SF
− OpEx
−$63.3K −$9.83/SF
NOI
$189.9K $29.48/SF
Area
Boston, MA
Vacancy
22.00%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
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%
$3,797,540
Cap Rate 7%
$2,712,529
Cap Rate 9%
$2,109,744
Alternative Uses
Best Use
Office B
$2.71M
$2.37M – $3.16M
NOI $189,877 @ 7.0% cap · market cap 5.28%
Second Best
Mixed Use
$2.25M
$1.97M – $2.62M
NOI $157,217 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$4.82M
$4.22M – $5.63M
NOI $337,559 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,064
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 Office in Boston, MA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Multi-level live-work home with direct yard access, multiple kitchens, and wellness amenities including sauna, whirlpool, and swimming pool.
Where is this live-work space located?
The property is located at 45 Parley Ave Boston, MA.
What is the asking price?
The asking price for this property is $3,595,000.
What are key features of this property?
This property features: Year built 1899 with a multi‑level layout designed for multi‑generational living and entertaining; Main level overlooks a landscaped yard with a pond and waterfall; Oversized 1‑car garage with direct kitchen access and an EV charger
