Updated Brick Triplex with Three
For Sale
$1,199,000
162 Howard Ave, Boston, MA 02125
Updated brick building with separate utilities, newer kitchens and baths, and high ceilings.
Property Size4,597 SF
Days on Market13
Property Features for 162 Howard Ave
General Information
Standard status
Active
Size
4,597 SF
Total Parking Spaces
3
Property subtype
Multifamily
Additional Details
Gross Income
$131,016
Taxes and HOA fees
Annual Taxes
$13,747
Building Details
Building Size
4,597 SF
Year Built
1910
Listing Agency:
Coldwell Banker Realty - Weston
Listed By:
Jacques Handal · License #55651
(781) 894-5555
Source:
Classifiedrealtygroup
Added: Sep 15
Changed: Sep 16
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 Coldwell Banker Realty - Weston
Investment Insights
Based on property information with market context.
Built in 1910, this brick triplex contains three spacious apartments with updated kitchens and bathrooms. The property includes high ceilings, three decks, a large basement, and separate utility services for the apartments. Deleading certificates are in place, and off-street parking may be possible.
Located at 162 Howard Ave in Boston, the property offers a three-unit residential income configuration within an established brick building. Its combination of apartment space, outdoor decks, basement storage, and updated interior components provides a practical multifamily layout.
Located at 162 Howard Ave in Boston, the property offers a three-unit residential income configuration within an established brick building. Its combination of apartment space, outdoor decks, basement storage, and updated interior components provides a practical multifamily layout.
Key Highlights
- Three spacious apartments in a brick triplex
- Built in 1910
- Three decks and a large basement
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
$107,993
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
9.01%
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%
$2,159,860
$2.2M
Cap Rate 7%
$1,542,757
$1.5M
Cap Rate 9%
$1,199,922
$1.2M
Market Conditions
NOI Build-Up for 4,597 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
$204.1K $44.40/SF
− Vacancy
−$7.8K −$1.69/SF
EGI
$196.4K $42.71/SF
− OpEx
−$88.4K −$19.22/SF
NOI
$108.0K $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%
$2,159,860
Cap Rate 7%
$1,542,757
Cap Rate 9%
$1,199,922
Alternative Uses
Best Use
Multifamily LT 5
$1.66M
$1.45M – $1.94M
NOI $116,163 @ 7.0% cap · market cap 9.69%
Second Best
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $107,993 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$3.44M
$3.01M – $4.02M
NOI $240,956 @ 7.0% cap · market cap 20.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,747
Businesses Nearby
Explore this area
Business Placement
Demographics for 02125, MA
34,926
Population
14,999
Households
2.3
Avg Household Size
32
Median Age
42%
College-Educated
87%
High-School Grad
2.2 sq mi
ZIP Area
15,875
Density / Sq Mi
$71,810
Median Household Income
$52,106
Median Earnings
$1,897
Median Rent
$645,400
Median Home Value
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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 - Updated brick building with separate utilities, newer kitchens and baths, and high ceilings.
Where is this triplex located?
The property is located at 162 Howard Ave Boston, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Three spacious apartments in a brick triplex; Built in 1910; Three decks and a large basement
