Eight-Bedroom
For Sale
$1,015,000
1 Louis D Brown Way, Boston, MA 02124
Three-unit property with off-street parking, hardwood floors, replacement windows, and flexible occupancy status.
Property Size2,579 SF
Days on Market9
Property Features for 1 Louis D Brown Way
General Information
Standard status
Active
Size
2,579 SF
Total Parking Spaces
3
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$10,024
Building Details
Building Size
2,579 SF
Year Built
1890
Listing Agency:
Smith and Oak Real Estate Co.
(855) 638-7698
Listed By:
Smith & Oak Greater Boston Group
Source:
Classifiedrealtygroup
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 22 at 4:04AM
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 Smith and Oak Real Estate Co.
Investment Insights
Based on property information with market context.
Built in 1890, this Dorchester triplex contains three residential units and eight total bedrooms. The property features spacious interiors with high ceilings, hardwood floors, replacement windows, and vinyl siding. Two units are vacant and undergoing preparation for month-to-month occupancy, with additional finish work to be completed by the seller. The existing third-unit tenant is expected to move into another unit next month.
Exterior features include off-street parking, a backyard, a porch, and a second-floor balcony. Located on a quiet road in Dorchester, the property is positioned for continued multifamily use and offers private showings by appointment with advance notice.
Exterior features include off-street parking, a backyard, a porch, and a second-floor balcony. Located on a quiet road in Dorchester, the property is positioned for continued multifamily use and offers private showings by appointment with advance notice.
Key Highlights
- Three‑unit Dorchester property with 8 total bedrooms
- Built in 1890 with hardwood floors, replacement windows, and vinyl siding
- Two units vacant and being prepared for month‑to‑month rentals
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
$65,170
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
6.42%
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%
$1,303,400
$1.3M
Cap Rate 7%
$931,000
$931.0K
Cap Rate 9%
$724,111
$724.1K
Market Conditions
NOI Build-Up for 2,579 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
$97.5K $37.80/SF
− Vacancy
−$4.4K −$1.70/SF
EGI
$93.1K $36.10/SF
− OpEx
−$27.9K −$10.83/SF
NOI
$65.2K $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%
$1,303,400
Cap Rate 7%
$931,000
Cap Rate 9%
$724,111
Alternative Uses
Best Use
Multifamily LT 5
$931.0K
$814.6K – $1.09M
NOI $65,170 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$865.5K
$757.3K – $1.01M
NOI $60,586 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,181 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,926
Businesses Nearby
Explore this area
Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
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 - Three-unit property with off-street parking, hardwood floors, replacement windows, and flexible occupancy status.
Where is this triplex located?
The property is located at 1 Louis D Brown Way Boston, MA.
What is the asking price?
The asking price for this property is $1,015,000.
What are key features of this property?
This property features: Three‑unit Dorchester property with 8 total bedrooms; Built in 1890 with hardwood floors, replacement windows, and vinyl siding; Two units vacant and being prepared for month‑to‑month rentals
