Duplex with Expansion
For Sale
$899,000
9-11 Hardwick Ter, Boston, MA 02135
Two residential units offer flexible layouts, hardwood floors, separate electric utilities, and renovation possibilities in Brighton.
Property Size2,352 SF
Price / SF$382.23
Days on Market9
Property Features for 9-11 Hardwick Ter
General Information
Standard status
Active
Size
2,352 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
R2
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,234
Amenities
skyline views
Building Details
Building Size
2,352 SF
Year Built
1940
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
(617) 489-6900
Listed By:
Jim & Mike Savas Team
Source:
Bostonbayside
Added: Aug 1
Changed: Aug 8
Last Checked: Aug 9 at 4:49AM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
Investment Insights
Based on property information with market context.
This 2,352 SF duplex, built in 1940, contains two residential units with flexible layouts. The first floor includes five rooms configured as two or three bedrooms, while the second floor includes six rooms with a similar two- or three-bedroom arrangement. Both units feature hardwood flooring, abundant natural light, and separate all-electric utilities. The first-floor residence is positioned for renovation, while the second-floor unit can support owner occupancy or rental use.
The property sits on a relatively level lot on a quiet cul-de-sac atop Bigelow Hill near Oak Square, with skyline views. A two-car driveway is complemented by a rear right-of-way along the right side of the property. The lower level offers potential for an ADU, additional living space, guest accommodations, an office, or recreation area, subject to buyer verification and applicable City of Boston approvals. The property is zoned R2 and located at 9-11 Hardwick Ter in Boston’s 02135 ZIP code.
The property sits on a relatively level lot on a quiet cul-de-sac atop Bigelow Hill near Oak Square, with skyline views. A two-car driveway is complemented by a rear right-of-way along the right side of the property. The lower level offers potential for an ADU, additional living space, guest accommodations, an office, or recreation area, subject to buyer verification and applicable City of Boston approvals. The property is zoned R2 and located at 9-11 Hardwick Ter in Boston’s 02135 ZIP code.
Key Highlights
- 2,352 SF duplex built in 1940
- Two units with flexible two- or three‑bedroom layouts
- Separate all‑electric utilities and hardwood floors in 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
$59,433
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
6.61%
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%
$1,188,660
$1.2M
Cap Rate 7%
$849,043
$849.0K
Cap Rate 9%
$660,367
$660.4K
Market Conditions
NOI Build-Up for 2,352 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
$88.9K $37.80/SF
− Vacancy
−$4.0K −$1.70/SF
EGI
$84.9K $36.10/SF
− OpEx
−$25.5K −$10.83/SF
NOI
$59.4K $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%
$1,188,660
Cap Rate 7%
$849,043
Cap Rate 9%
$660,367
Alternative Uses
Best Use
Multifamily LT 5
$849.0K
$742.9K – $990.6K
NOI $59,433 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$789.3K
$690.7K – $920.9K
NOI $55,253 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,282 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,050
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 residential units offer flexible layouts, hardwood floors, separate electric utilities, and renovation possibilities in Brighton.
Where is this duplex located?
The property is located at 9-11 Hardwick Ter Boston, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 2,352 SF duplex built in 1940; Two units with flexible two- or three‑bedroom layouts; Separate all‑electric utilities and hardwood floors in both units
