Two-Family Residential Income
For Sale
$1,225,000
1517 Centre St, Boston, MA 02132
Bright two-family home with separate entrances, two bedrooms per unit, and private balconies, plus shared basement laundry.
Property Size1,664 SF
Price / SF$736.18
Days on Market112
Property Features for 1517 Centre St
General Information
Standard status
Active
Size
1,664 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
R2
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
private balcony
washer/dryer
Gas Dryer Hookup
Wood, Laminate
2
Fenced
Yes
Other
2.0
Public Transportation, Park, Walk/Jog Trails, Medical Facility, Private School, Public School, Other
for Electric Range, for Gas Dryer
6
Building Details
Building Size
1,664 SF
Year Built
1950
Stories
3
Listing Agency:
Stone Brokerage, LLC
Listed By:
Ani Kadilli · License #9566732
(617) 320-7111
Source:
Reishomesearch
Added: May 19
Changed: Sep 2
Last Checked: Aug 25 at 3:03AM
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 Stone Brokerage, LLC
Investment Insights
Based on property information with market context.
This bright two-family duplex offers two bedrooms and one bathroom in each unit. Both units have separate entrances and refinished hardwood floors, along with updated kitchen appliances including a new refrigerator, new stove, and new dishwasher. Heating is gas-fired with separate boilers for each unit. Exterior amenities include a private balcony for each unit and a large fenced backyard.
Laundry is located in the basement, with a washer and dryer provided for each unit. The property is located at 1517 Centre St and offers convenient access to the Longwood Medical Area, South Brookline, Jamaica Plain, and the Arboretum, with Mass General/Brigham hospital nearby. West Roxbury/Roslindale village shopping and restaurants are within walking distance, and a bus stop is in front of the street.
Overall, the layout supports independent occupancy with dedicated entries, separate mechanical systems, and in-unit kitchen and laundry updates within each unit.
Laundry is located in the basement, with a washer and dryer provided for each unit. The property is located at 1517 Centre St and offers convenient access to the Longwood Medical Area, South Brookline, Jamaica Plain, and the Arboretum, with Mass General/Brigham hospital nearby. West Roxbury/Roslindale village shopping and restaurants are within walking distance, and a bus stop is in front of the street.
Overall, the layout supports independent occupancy with dedicated entries, separate mechanical systems, and in-unit kitchen and laundry updates within each unit.
Key Highlights
- Two‑family home built in 1950 with each unit offering 2 bedrooms and 1 bathroom
- Each unit has a separate entrance and a private balcony
- Refinished hardwood floors plus laminate flooring
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
$42,048
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
3.43%
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%
$840,960
$841.0K
Cap Rate 7%
$600,686
$600.7K
Cap Rate 9%
$467,200
$467.2K
Market Conditions
NOI Build-Up for 1,664 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
$62.9K $37.80/SF
− Vacancy
−$2.8K −$1.70/SF
EGI
$60.1K $36.10/SF
− OpEx
−$18.0K −$10.83/SF
NOI
$42.0K $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%
$840,960
Cap Rate 7%
$600,686
Cap Rate 9%
$467,200
Alternative Uses
Best Use
Multifamily LT 5
$600.7K
$525.6K – $700.8K
NOI $42,048 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$558.4K
$488.6K – $651.5K
NOI $39,091 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,220 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 02132, MA
27,111
Population
11,967
Households
2.3
Avg Household Size
44
Median Age
64%
College-Educated
95%
High-School Grad
4.9 sq mi
ZIP Area
5,533
Density / Sq Mi
$139,545
Median Household Income
$75,760
Median Earnings
$2,140
Median Rent
$714,000
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?
Duplex - Bright two-family home with separate entrances, two bedrooms per unit, and private balconies, plus shared basement laundry.
Where is this duplex located?
The property is located at 1517 Centre St Boston, MA.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Two‑family home built in 1950 with each unit offering 2 bedrooms and 1 bathroom; Each unit has a separate entrance and a private balcony; Refinished hardwood floors plus laminate flooring
