Brick Triplex with Outdoor
For Sale
$999,895
65 Dennis St, Boston, MA 02119
Attached three-family property with two-bedroom apartments, private rear outdoor areas, and a basement laundry setup.
Property Size3,643 SF
Days on Market13
Property Features for 65 Dennis St
General Information
Standard status
Active
Size
3,643 SF
Total Parking Spaces
1
Property subtype
Investment
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,116
Amenities
Hardwood Flooring
Tiled Kitchen & Bathrooms
Separate Living and Dining Rooms
In-Unit Laundry
Shared Laundry
Private Outdoor Space
Rear Yard
Building Details
Building Size
3,643 SF
Year Built
1925
Buildings
1
Stories
3
Units
3
Construction
Brick
Tenancy
Multi
Listed By:
Terrance Moreau
(857) 308-8224
Source:
Elliman
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 26 at 10:35AM
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 Terrance Moreau
Investment Insights
Based on property information with market context.
Built in 1925, this attached brick triplex contains three two-bedroom apartments with hardwood floors, tiled kitchens and bathrooms, separate living and dining rooms, and abundant natural light. Unit 3 is vacant, while Unit 1 is scheduled to move; the third apartment is rented TAW and may also be delivered vacant. One off-street parking space, in-unit laundry in Unit 1, and shared coin-operated basement laundry add practical functionality. Each apartment includes private rear outdoor space, complemented by a rear yard suitable for gatherings.
The property is located at 65 Dennis St in Roxbury, near public transportation, neighborhood parks, local shopping, and the restaurants and businesses of Nubian Square. WalkScore is 96, BikeScore is 99, and TransitScore is 89, supporting convenient access without relying solely on a vehicle.
The property is located at 65 Dennis St in Roxbury, near public transportation, neighborhood parks, local shopping, and the restaurants and businesses of Nubian Square. WalkScore is 96, BikeScore is 99, and TransitScore is 89, supporting convenient access without relying solely on a vehicle.
Key Highlights
- Three two‑bedroom apartments in an attached brick triplex
- Unit 3 is vacant; Unit 1 is scheduled to move
- One apartment is rented TAW and may also be delivered vacant
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
$85,582
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
8.56%
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%
$1,711,640
$1.7M
Cap Rate 7%
$1,222,600
$1.2M
Cap Rate 9%
$950,911
$950.9K
Market Conditions
NOI Build-Up for 3,643 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
$161.7K $44.40/SF
− Vacancy
−$6.1K −$1.69/SF
EGI
$155.6K $42.71/SF
− OpEx
−$70.0K −$19.22/SF
NOI
$85.6K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,711,640
Cap Rate 7%
$1,222,600
Cap Rate 9%
$950,911
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.15M – $1.53M
NOI $92,056 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,582 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$2.73M
$2.39M – $3.18M
NOI $190,951 @ 7.0% cap · market cap 19.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,821
Businesses Nearby
Explore this area
Business Placement
Demographics for 02119, MA
29,175
Population
12,937
Households
2.3
Avg Household Size
34
Median Age
30%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
18,234
Density / Sq Mi
$43,255
Median Household Income
$38,664
Median Earnings
$1,252
Median Rent
$668,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Attached three-family property with two-bedroom apartments, private rear outdoor areas, and a basement laundry setup.
Where is this triplex located?
The property is located at 65 Dennis St Boston, MA.
What is the asking price?
The asking price for this property is $999,895.
What are key features of this property?
This property features: Three two‑bedroom apartments in an attached brick triplex; Unit 3 is vacant; Unit 1 is scheduled to move; One apartment is rented TAW and may also be delivered vacant
