Renovated Triplex with
New
For Sale
$1,250,000
149 Greenfield Road, Boston, MA 02126
Three residential units feature updated kitchens, hardwood floors, and off-street parking.
Property Size3,587 SF
Days on Market4
Property Features for 149 Greenfield Road
General Information
Standard status
Active
Size
3,587 SF
Total Parking Spaces
2
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Sprinkler System
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,353
Amenities
laundry hook-ups
Building Details
Building Size
3,587 SF
Year Built
1920
Listing Agency:
William Raveis R.E. & Home Services
Listed By:
Lisa H. Tran
(781) 856-7191
Source:
Classifiedrealtygroup
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 4:09AM
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 William Raveis R.E. & Home Services
Investment Insights
Based on property information with market context.
This renovated three-family property contains three residential units and 5.5 bathrooms. Updated kitchens include new countertops, cabinetry, and backsplashes; hardwood flooring appears in many rooms. The newest apartment, Unit 1, has a sprinkler system. A partially finished basement offers several rooms, two full bathrooms, laundry hookups, storage, and exterior access. The basement may offer potential for a fourth unit, subject to applicable approvals.
The property has off-street parking and a backyard with room for improvements. Public transportation options include commuter rail service 0.06 mi. away, the Orange Line trolley 0.07 mi. away, and the Red Line 2.5 mi. away. Routes 138, 93, 95, 3, 1, 3A, 128, 24, and 203 are also accessible. Ross Playground is less than a mile away, and the YMCA is 1.4 mi. away.
The property has off-street parking and a backyard with room for improvements. Public transportation options include commuter rail service 0.06 mi. away, the Orange Line trolley 0.07 mi. away, and the Red Line 2.5 mi. away. Routes 138, 93, 95, 3, 1, 3A, 128, 24, and 203 are also accessible. Ross Playground is less than a mile away, and the YMCA is 1.4 mi. away.
Key Highlights
- Three‑family property with 5.5 bathrooms
- Partially finished basement includes several rooms, two full baths, laundry hookups, storage, and exterior access
- Updated kitchens, hardwood floors in many rooms, and a sprinkler system in Unit 1
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
$90,641
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
7.25%
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%
$1,812,820
$1.8M
Cap Rate 7%
$1,294,871
$1.3M
Cap Rate 9%
$1,007,122
$1.0M
Market Conditions
NOI Build-Up for 3,587 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
$135.6K $37.80/SF
− Vacancy
−$6.1K −$1.70/SF
EGI
$129.5K $36.10/SF
− OpEx
−$38.8K −$10.83/SF
NOI
$90.6K $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%
$1,812,820
Cap Rate 7%
$1,294,871
Cap Rate 9%
$1,007,122
Alternative Uses
Best Use
Multifamily LT 5
$1.29M
$1.13M – $1.51M
NOI $90,641 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,266 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$2.69M
$2.35M – $3.13M
NOI $188,016 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Explore this area
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
Check the figures for this property
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 - Three residential units feature updated kitchens, hardwood floors, and off-street parking.
Where is this triplex located?
The property is located at 149 Greenfield Road Boston, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑family property with 5.5 bathrooms; Partially finished basement includes several rooms, two full baths, laundry hookups, storage, and exterior access; Updated kitchens, hardwood floors in many rooms, and a sprinkler system in Unit 1
