Reimagined Duplex with
For Sale
$1,100,000
21-23 Westmore Road, Boston, MA 02126
Updated two-family duplex features sunrooms, formal dining, private entries, and exclusive basement access for each unit.
Property Size2,931 SF
Days on Market44
Property Features for 21-23 Westmore Road
General Information
Standard status
Active
Size
2,931 SF
Total Parking Spaces
3
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$8,246
Building Details
Building Size
2,931 SF
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Dorchester
Listed By:
Terrance Moreau · License #9532122
(617) 696-4430
Source:
Classifiedrealtygroup
Added: Jul 29
Changed: Sep 8
Last Checked: Sep 9 at 3:10PM
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 - Dorchester
Investment Insights
Based on property information with market context.
This reimagined two-family duplex offers spacious, updated living with flexible layouts in each unit. Each apartment includes a formal dining room, living room, and sunroom, along with an open floorplan designed to bring in abundant natural light. Both units also provide a private entrance, exclusive access to the basement, and dedicated outdoor space.
The interiors include modern kitchens with peninsula seating, ample counter space, vented exhaust hoods, and contemporary finishes. Built-in closet storage, hardwood flooring, and new windows with insulation support comfort and energy efficiency. The home was built in 1920.
Each floor provides three bedrooms and one full bathroom, creating a straightforward residential setup for owner-occupancy or multi-generational living. Unit 2 includes additional square footage to enjoy, complementing the generous room layout across both apartments. At 2,931 SF, the property is structured as a move-in-ready two-family residence.
The interiors include modern kitchens with peninsula seating, ample counter space, vented exhaust hoods, and contemporary finishes. Built-in closet storage, hardwood flooring, and new windows with insulation support comfort and energy efficiency. The home was built in 1920.
Each floor provides three bedrooms and one full bathroom, creating a straightforward residential setup for owner-occupancy or multi-generational living. Unit 2 includes additional square footage to enjoy, complementing the generous room layout across both apartments. At 2,931 SF, the property is structured as a move-in-ready two-family residence.
Key Highlights
- 2,931 SF two‑family duplex built in 1920
- Sunrooms plus formal dining and living rooms in both units
- Private entrances and exclusive basement access for each unit
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
$74,064
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
6.73%
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%
$1,481,280
$1.5M
Cap Rate 7%
$1,058,057
$1.1M
Cap Rate 9%
$822,933
$822.9K
Market Conditions
NOI Build-Up for 2,931 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
$110.8K $37.80/SF
− Vacancy
−$5.0K −$1.70/SF
EGI
$105.8K $36.10/SF
− OpEx
−$31.7K −$10.83/SF
NOI
$74.1K $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%
$1,481,280
Cap Rate 7%
$1,058,057
Cap Rate 9%
$822,933
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$925.8K – $1.23M
NOI $74,064 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$983.6K
$860.7K – $1.15M
NOI $68,855 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,631 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
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Business Placement
Demographics for 02126, MA
22,734
Population
9,617
Households
2.4
Avg Household Size
38
Median Age
24%
College-Educated
87%
High-School Grad
1.8 sq mi
ZIP Area
12,630
Density / Sq Mi
$67,206
Median Household Income
$42,397
Median Earnings
$1,659
Median Rent
$515,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-family duplex features sunrooms, formal dining, private entries, and exclusive basement access for each unit.
Where is this duplex located?
The property is located at 21-23 Westmore Road Boston, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 2,931 SF two‑family duplex built in 1920; Sunrooms plus formal dining and living rooms in both units; Private entrances and exclusive basement access for each unit
