2-Unit Residential Income
For Sale
$1,149,000
Pending
51-53 Langley Road, Boston, MA 02135
Two-family home with covered garage parking, hardwood floors, private rear decks, and a full basement with washer and dryer.
Property Size2,184 SF
Days on Market36
Property Features for 51-53 Langley Road
General Information
Standard status
Pending
Size
2,184 SF
Total Parking Spaces
2
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,500
Building Details
Building Size
2,184 SF
Year Built
1911
Tenancy
Multi
Listing Agency:
Century 21 Cityside
(617) 512-1095
Listed By:
Collin Bray · License #9066337
Source:
Classifiedrealtygroup
Added: Jul 20
Changed: Aug 17
Last Checked: Aug 21 at 4:06AM
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 Century 21 Cityside
Investment Insights
Based on property information with market context.
This two-family residential income property offers two independent units within a well-maintained building. Unit 1 features two bedrooms and one bathroom, while Unit 2 features three bedrooms and one bathroom. Hardwood floors run throughout the interior, and both units have sun-drenched living spaces. Outside, there are private rear decks overlooking a backyard and garden area. The property also includes a full basement with a washer and dryer, and Unit 2 has an attic space that can serve as bonus storage.
The home is located on Langley Road in Brighton’s Oak Square area. Public remarks indicate convenient access to Washington Street, Boston College, St. Elizabeth’s Hospital, I-90 Mass Pike, and Storrow Drive, along with nearby express bus service and the Green Line.
The listing includes two covered garage parking spaces for residents. Additional information in the remarks references potential flexibility for future expansion, depending on buyer plans and feasibility.
The home is located on Langley Road in Brighton’s Oak Square area. Public remarks indicate convenient access to Washington Street, Boston College, St. Elizabeth’s Hospital, I-90 Mass Pike, and Storrow Drive, along with nearby express bus service and the Green Line.
The listing includes two covered garage parking spaces for residents. Additional information in the remarks references potential flexibility for future expansion, depending on buyer plans and feasibility.
Key Highlights
- Brighton 2‑family home built in 1911 with covered garage parking for 2 cars
- Unit mix: Unit 1 offers 2 bed/1 bath; Unit 2 offers 3 bed/1 bath
- Hardwood floors throughout both units
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
$55,188
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%
$1,103,760
$1.1M
Cap Rate 7%
$788,400
$788.4K
Cap Rate 9%
$613,200
$613.2K
Market Conditions
NOI Build-Up for 2,184 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
$82.6K $37.80/SF
− Vacancy
−$3.7K −$1.70/SF
EGI
$78.8K $36.10/SF
− OpEx
−$23.7K −$10.83/SF
NOI
$55.2K $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%
$1,103,760
Cap Rate 7%
$788,400
Cap Rate 9%
$613,200
Alternative Uses
Best Use
Multifamily LT 5
$788.4K
$689.9K – $919.8K
NOI $55,188 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$733.0K
$641.3K – $855.1K
NOI $51,307 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,477 @ 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
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
839
Businesses Nearby
Explore this area
Business Placement
Demographics for 02135, MA
47,232
Population
22,519
Households
2.1
Avg Household Size
29
Median Age
71%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
18,166
Density / Sq Mi
$88,208
Median Household Income
$57,124
Median Earnings
$2,179
Median Rent
$684,000
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?
Duplex - Two-family home with covered garage parking, hardwood floors, private rear decks, and a full basement with washer and dryer.
Where is this duplex located?
The property is located at 51-53 Langley Road Boston, MA.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Brighton 2‑family home built in 1911 with covered garage parking for 2 cars; Unit mix: Unit 1 offers 2 bed/1 bath; Unit 2 offers 3 bed/1 bath; Hardwood floors throughout both units
