Renovated Three-Level
For Sale
$1,149,000
17-19 Clarence St, Boston, MA 02119
Two updated townhomes combine substantial bedroom counts with modernized kitchens, baths, systems, and interior finishes.
Property Size3,036 SF
Days on Market8
Property Features for 17-19 Clarence St
General Information
Standard status
Active
Size
3,036 SF
Property subtype
2 Family - 2 Units Side by Side
Units
Unit Mix
1 x 5BR/2.5BA + office, 1 x 4BR/4.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,998
Amenities
central air conditioning
roof access
Building Details
Building Size
3,036 SF
Year Built
1890
Stories
3
Listing Agency:
MIG
(617) 651-5406
Listed By:
Nichols Realty Team
Source:
Allisonmazer
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 21 at 10:25AM
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 MIG
Investment Insights
Based on property information with market context.
This duplex property includes two renovated townhomes, each arranged across three levels with approximately 1,518 square feet of living space. Unit 19 provides five bedrooms, two and one-half bathrooms, and a separate office, while Unit 17 includes four bedrooms and four and one-half bathrooms. Improvements extend to the electrical, plumbing, heating, kitchens, bathrooms, flooring, and interior finishes. Stainless steel appliances, hardwood floors, central air conditioning, pendant fixtures, and recessed lighting add to the interior specifications.
Upper-level city views and direct roof access are additional features. The property is near public transportation, shopping, restaurants, and neighborhood amenities, with downtown Boston described as a 5–10 minute ride away. Built in 1890, the two-townhome configuration supports separate residential living arrangements within one property.
Upper-level city views and direct roof access are additional features. The property is near public transportation, shopping, restaurants, and neighborhood amenities, with downtown Boston described as a 5–10 minute ride away. Built in 1890, the two-townhome configuration supports separate residential living arrangements within one property.
Key Highlights
- Two three‑level townhomes, each approximately 1,518 square feet
- Unit 19 includes 5 bedrooms, 2.5 bathrooms, and a dedicated office
- Unit 17 offers 4 bedrooms and 4.5 bathrooms
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
$76,718
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
6.68%
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%
$1,534,360
$1.5M
Cap Rate 7%
$1,095,971
$1.1M
Cap Rate 9%
$852,422
$852.4K
Market Conditions
NOI Build-Up for 3,036 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
$114.8K $37.80/SF
− Vacancy
−$5.2K −$1.70/SF
EGI
$109.6K $36.10/SF
− OpEx
−$32.9K −$10.83/SF
NOI
$76.7K $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%
$1,534,360
Cap Rate 7%
$1,095,971
Cap Rate 9%
$852,422
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$959.0K – $1.28M
NOI $76,718 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$1.02M
$891.5K – $1.19M
NOI $71,322 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$2.27M
$1.99M – $2.65M
NOI $159,135 @ 7.0% cap · market cap 13.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,189
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 updated townhomes combine substantial bedroom counts with modernized kitchens, baths, systems, and interior finishes.
Where is this duplex located?
The property is located at 17-19 Clarence St Boston, MA.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Two three‑level townhomes, each approximately 1,518 square feet; Unit 19 includes 5 bedrooms, 2.5 bathrooms, and a dedicated office; Unit 17 offers 4 bedrooms and 4.5 bathrooms
