Top-Floor Residential Income
For Sale
$499,000
15 Braemore Rd, Boston, MA 02135
Condominium residence with updated finishes, abundant natural light, and a professionally managed setting near the Brookline–Brighton line.
Property Size688 SF
Price / SF$725.29
Days on Market83
Property Features for 15 Braemore Rd
General Information
Standard status
Active
Size
688 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
Window Unit(s)
Flooring - Hardwood
Forced Air
1.0 Story
$5,883 Taxes
Public
Built in 1920
Building Details
Year Built
1920
Listing Agency:
Boston Elite Realty Group
(617) 388-1715
Listed By:
John Zhang
Source:
Donahuere
Added: Jun 2
Changed: Aug 22
Last Checked: Aug 23 at 2:26AM
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 Boston Elite Realty Group
Investment Insights
Based on property information with market context.
This 688-square-foot condominium occupies the top floor of a professionally managed residence built in 1920. Interior features include high ceilings, hardwood flooring, expansive windows, and a built-in bookcase. The kitchen is fitted with granite countertops, contemporary cabinetry, a gas stove, dishwasher, and garbage disposal. An updated bathroom adds custom tile work and sconce lighting.
The property is located on the Brookline–Brighton line at 15 Braemore Rd in Boston. The residence is identified as pet-friendly, providing an additional practical feature for occupants. Its established construction, upper-floor position, and updated interior finishes create a clearly defined residential offering.
The property is located on the Brookline–Brighton line at 15 Braemore Rd in Boston. The residence is identified as pet-friendly, providing an additional practical feature for occupants. Its established construction, upper-floor position, and updated interior finishes create a clearly defined residential offering.
Key Highlights
- 688‑square‑foot top‑floor condominium
- Professionally managed residence built in 1920
- High ceilings, hardwood floors, expansive windows, and built‑in bookcase
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
$16,163
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
3.24%
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%
$323,260
$323.3K
Cap Rate 7%
$230,900
$230.9K
Cap Rate 9%
$179,589
$179.6K
Market Conditions
NOI Build-Up for 688 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
$30.5K $44.40/SF
− Vacancy
−$1.2K −$1.69/SF
EGI
$29.4K $42.71/SF
− OpEx
−$13.2K −$19.22/SF
NOI
$16.2K $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%
$323,260
Cap Rate 7%
$230,900
Cap Rate 9%
$179,589
Alternative Uses
Best Use
Apartment 5plus
$230.9K
$202.0K – $269.4K
NOI $16,163 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$515.2K
$450.8K – $601.0K
NOI $36,062 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,022
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with updated finishes, abundant natural light, and a professionally managed setting near the Brookline–Brighton line.
Where is this residential income property located?
The property is located at 15 Braemore Rd Boston, MA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 688‑square‑foot top‑floor condominium; Professionally managed residence built in 1920; High ceilings, hardwood floors, expansive windows, and built‑in bookcase
