Owner-Occupied 3-Unit Residential
For Sale
$2,599,000
Pending
164 Calumet Street, Boston, MA 02120
Well-maintained three-family property with separate systems, on-site laundry, and parking for six cars.
Property Size3,675 SF
Days on Market133
Property Features for 164 Calumet Street
General Information
Standard status
Pending
Size
3,675 SF
Total Parking Spaces
6
Property subtype
Multi-family / 3 Family
Zoning
res
Occupancy
67%
Net Operating Income
$64,800
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$22,289
Amenities
laundry
full basement
walk up attic
back porch
central air
No
Wood, Tile
Range, Dishwasher, Refrigerator, Washer, Dryer
3.0
Full
Ceiling Fan(s), Walk-Up Attic, Living Room, Kitchen, Laundry Room, Office/Den, Window AC
3
3.00
Frame
Shingle
Balcony/Deck, Covered Patio/Deck
Covered
Building Details
Year Built
1905
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Bell | Whitman Group
(617) 755-2555
Source:
Compass
Added: Apr 28
Changed: Aug 25
Last Checked: Aug 24 at 12:14PM
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 Compass
Investment Insights
Based on property information with market context.
This owner-occupied three-family residential income property offers three separate units, each with five rooms and an eat-in kitchen that opens to a back porch overlooking a tree-lined yard. The home is configured with separate systems and laundry in each unit, and Unit 1 includes central air. Additional space includes a full basement and a walk-up attic.
The property includes parking for six cars and sits on two lots under one deed.
Units 1 and 3 are currently leased through August 2026, providing in-place rental income at the time of sale.
The property includes parking for six cars and sits on two lots under one deed.
Units 1 and 3 are currently leased through August 2026, providing in-place rental income at the time of sale.
Key Highlights
- Well‑maintained 3‑family home built in 1905 with 5 rooms per unit
- Each unit has separate systems and separate laundry
- Units 1 and 3 are leased through August 2026
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
$92,865
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
3.57%
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%
$1,857,300
$1.9M
Cap Rate 7%
$1,326,643
$1.3M
Cap Rate 9%
$1,031,833
$1.0M
Market Conditions
NOI Build-Up for 3,675 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
$138.9K $37.80/SF
− Vacancy
−$6.3K −$1.70/SF
EGI
$132.7K $36.10/SF
− OpEx
−$39.8K −$10.83/SF
NOI
$92.9K $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%
$1,857,300
Cap Rate 7%
$1,326,643
Cap Rate 9%
$1,031,833
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $92,865 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,333 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,629 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
66.7%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,377
Businesses Nearby
Explore this area
Business Placement
Demographics for 02120, MA
17,578
Population
5,061
Households
3.5
Avg Household Size
26
Median Age
44%
College-Educated
78%
High-School Grad
0.6 sq mi
ZIP Area
29,297
Density / Sq Mi
$61,472
Median Household Income
$27,345
Median Earnings
$1,630
Median Rent
$941,200
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?
Triplex - Well-maintained three-family property with separate systems, on-site laundry, and parking for six cars.
Where is this triplex located?
The property is located at 164 Calumet Street Boston, MA.
What is the asking price?
The asking price for this property is $2,599,000.
What are key features of this property?
This property features: Well‑maintained 3‑family home built in 1905 with 5 rooms per unit; Each unit has separate systems and separate laundry; Units 1 and 3 are leased through August 2026
