Three-Family Residential
For Sale
$1,395,000
167-167A Falcon, Boston, MA 02128
Three units each offer three bedrooms and one bathroom, with basement coin-op laundry, garage parking, and a backyard.
Property Size3,438 SF
Price / SF$405.76
Days on Market110
Property Features for 167-167A Falcon
General Information
Standard status
Active
Size
3,438 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Zoning
RL-R
Net Operating Income
$102,600
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$13,756
Amenities
garage
coin-up laundry
backyard
Building Details
Building Size
3,438 SF
Year Built
1900
Stories
4
Tenancy
Multi
Listing Agency:
Bay Market Real Estate
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 20
Changed: Sep 5
Last Checked: Sep 5 at 5:37AM
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 three-family residential property offers nearly 3,500 square feet of living space with three bedrooms and one bathroom per unit, along with kitchens. The basement features coin-up laundry, and the property includes a garage plus a clean backyard.
The home is located in East Boston near Boston Harbor and provides easy access to bus lines, supermarkets, restaurants, and other everyday amenities.
With consistent tenant payment behavior noted in the remarks, the property is positioned for either an owner-occupant setup or an investor seeking a turnkey multi-family with an opportunity for improved returns.
The home is located in East Boston near Boston Harbor and provides easy access to bus lines, supermarkets, restaurants, and other everyday amenities.
With consistent tenant payment behavior noted in the remarks, the property is positioned for either an owner-occupant setup or an investor seeking a turnkey multi-family with an opportunity for improved returns.
Key Highlights
- 3‑family in East Boston built in 1900
- About 3,500 sq ft total living space with 3 bedrooms and 1 bathroom per unit
- Basement offers coin‑op laundry
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
$86,876
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
6.23%
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%
$1,737,520
$1.7M
Cap Rate 7%
$1,241,086
$1.2M
Cap Rate 9%
$965,289
$965.3K
Market Conditions
NOI Build-Up for 3,438 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
$130.0K $37.80/SF
− Vacancy
−$5.8K −$1.70/SF
EGI
$124.1K $36.10/SF
− OpEx
−$37.2K −$10.83/SF
NOI
$86.9K $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%
$1,737,520
Cap Rate 7%
$1,241,086
Cap Rate 9%
$965,289
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $86,876 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,766 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $180,206 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
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?
Triplex - Three units each offer three bedrooms and one bathroom, with basement coin-op laundry, garage parking, and a backyard.
Where is this triplex located?
The property is located at 167-167A Falcon Boston, MA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 3‑family in East Boston built in 1900; About 3,500 sq ft total living space with 3 bedrooms and 1 bathroom per unit; Basement offers coin‑op laundry
