Two-Family Home with Private
For Sale
$919,000
16-18 Logan St, Boston, MA 02119
Two-family residence offers off-street parking, a fenced backyard with stone patio, and city-view private outdoor space.
Property Size2,008 SF
Price / SF$457.67
Days on Market84
Property Features for 16-18 Logan St
General Information
Standard status
Active
Size
2,008 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$26,400
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,667
Building Details
Building Size
2,008 SF
Year Built
1918
Stories
2
Listing Agency:
Bay Market Real Estate
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 15
Changed: Sep 5
Last Checked: Sep 5 at 4:06AM
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 Bay Market Real Estate
Investment Insights
Based on property information with market context.
This two-family home offers off-street parking and private outdoor space set within a fenced backyard. The property includes an owner’s unit delivered vacant, featuring a bright, sunny 2-bedroom apartment with an updated kitchen and a private porch that overlooks the city skyline.
The home is situated on a tree-lined street on a quiet side street on the Hill. It is about a half block from a neighborhood park and close to Nubian Square’s shops, restaurants, hospitals, colleges, universities, and public transportation.
Overall, the layout provides a straightforward two-unit configuration with in-unit living space and a notable private outdoor area, supported by a covered, furnished-style stone patio within the fenced yard.
The home is situated on a tree-lined street on a quiet side street on the Hill. It is about a half block from a neighborhood park and close to Nubian Square’s shops, restaurants, hospitals, colleges, universities, and public transportation.
Overall, the layout provides a straightforward two-unit configuration with in-unit living space and a notable private outdoor area, supported by a covered, furnished-style stone patio within the fenced yard.
Key Highlights
- Two‑family home built in 1918 on a tree‑lined Roxbury street
- Owner’s unit is a 2‑bedroom apartment with an updated kitchen and private porch overlooking the city skyline
- Delievered vacant owner’s unit
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
$50,741
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
5.52%
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%
$1,014,820
$1.0M
Cap Rate 7%
$724,871
$724.9K
Cap Rate 9%
$563,789
$563.8K
Market Conditions
NOI Build-Up for 2,008 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
$75.9K $37.80/SF
− Vacancy
−$3.4K −$1.70/SF
EGI
$72.5K $36.10/SF
− OpEx
−$21.7K −$10.83/SF
NOI
$50.7K $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%
$1,014,820
Cap Rate 7%
$724,871
Cap Rate 9%
$563,789
Alternative Uses
Best Use
Multifamily LT 5
$724.9K
$634.3K – $845.7K
NOI $50,741 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$673.9K
$589.7K – $786.2K
NOI $47,172 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$1.50M
$1.32M – $1.75M
NOI $105,251 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,871
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
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 - Two-family residence offers off-street parking, a fenced backyard with stone patio, and city-view private outdoor space.
Where is this duplex located?
The property is located at 16-18 Logan St Boston, MA.
What is the asking price?
The asking price for this property is $919,000.
What are key features of this property?
This property features: Two‑family home built in 1918 on a tree‑lined Roxbury street; Owner’s unit is a 2‑bedroom apartment with an updated kitchen and private porch overlooking the city skyline; Delievered vacant owner’s unit
