Two-Family Duplex with Fenced
New
For Sale
$1,100,000
33 Cranston Street, Boston, MA 02130
Three off-street parking spaces accompany the two-unit property.
Property Size1,562 SF
Days on Market4
Property Features for 33 Cranston Street
General Information
Standard status
Active
Size
1,562 SF
Total Parking Spaces
2
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,539
Amenities
deck
fenced yard
Building Details
Building Size
1,562 SF
Year Built
1914
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
Brian Caluori
(518) 423-0309
Source:
Classifiedrealtygroup
Added: Sep 24
Last Checked: Sep 26 at 4:08AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 1914, this freestanding duplex contains two units with a total of 4 bedrooms and 2 full bathrooms. The first-floor unit extends to a lower level, with a front room used as an artist studio, a kitchen, a full bath, a deck, and two lower-level bedrooms with direct yard access. The second unit occupies two levels and includes a kitchen, dining area, living room, and additional bedrooms. Hardwood flooring covers much of its living space.
Multiple decks and a fenced yard provide outdoor areas, and the property has 3 off-street parking spaces. It is located near public transportation, the T, parks, bike paths, and major highway access.
Multiple decks and a fenced yard provide outdoor areas, and the property has 3 off-street parking spaces. It is located near public transportation, the T, parks, bike paths, and major highway access.
Key Highlights
- Two‑unit freestanding duplex built in 1914
- 4 bedrooms and 2 full bathrooms
- First‑floor unit has a lower level with two bedrooms and direct yard access
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
$39,471
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
3.59%
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%
$789,420
$789.4K
Cap Rate 7%
$563,871
$563.9K
Cap Rate 9%
$438,567
$438.6K
Market Conditions
NOI Build-Up for 1,562 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
$59.0K $37.80/SF
− Vacancy
−$2.7K −$1.70/SF
EGI
$56.4K $36.10/SF
− OpEx
−$16.9K −$10.83/SF
NOI
$39.5K $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%
$789,420
Cap Rate 7%
$563,871
Cap Rate 9%
$438,567
Alternative Uses
Best Use
Multifamily LT 5
$563.9K
$493.4K – $657.9K
NOI $39,471 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$524.2K
$458.7K – $611.6K
NOI $36,695 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,874 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,276
Businesses Nearby
Explore this area
Business Placement
Demographics for 02130, MA
38,284
Population
18,802
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
3.5 sq mi
ZIP Area
10,938
Density / Sq Mi
$130,533
Median Household Income
$73,238
Median Earnings
$2,434
Median Rent
$763,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Three off-street parking spaces accompany the two-unit property.
Where is this duplex located?
The property is located at 33 Cranston Street 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: Two‑unit freestanding duplex built in 1914; 4 bedrooms and 2 full bathrooms; First‑floor unit has a lower level with two bedrooms and direct yard access
