Building Details

Building Size 3,169 SF

Year Built 1905

Stories 3

Listing Agency: Pontes Realty Inc.

Listed By: Joseph Minot Show Phone

Source: Churchillprop

Added: May 10 Changed: Oct 6 Last Checked: Oct 16 at 7:27AM

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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 Pontes Realty Inc.

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Investment Insights

Based on property information with market context.

This three-unit multifamily property was built in 1905 and includes 3,169 square feet across three residential floors. The first- and second-floor apartments each contain three bedrooms and one bathroom, while the third-floor unit offers two bedrooms and one and a half bathrooms. The property is being sold as-is, with no leases currently in place. Projected rents are based on completion of a full renovation.

Located at 2-4 Howard Pl in Boston’s Dorchester neighborhood, the property is near the MBTA Red Line stations at JFK/UMass and Savin Hill, with access to downtown Boston. Carson Beach, South Bay Center, the University of Massachusetts Boston, shopping, dining, parks, and other neighborhood amenities are also nearby. The property is zoned R2.

Key Highlights

• Three‑unit multifamily property with 3,169 square feet
• Unit mix includes two 3 bed / 1 bath apartments and one 2 bed / 1.5 bath apartment
• Built in 1905 and zoned R2

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,446

Cap Rate

9.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,488,920 $1.5M

Cap Rate 7%

$1,063,514 $1.1M

Cap Rate 9%

$827,178 $827.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,169 SF

Gross rent

$140.7K $44.40/SF

− Vacancy

−$5.3K −$1.69/SF

EGI

$135.4K $42.71/SF

− OpEx

−$60.9K −$19.22/SF

NOI

$74.4K $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 Rate 5%

$1,488,920

Cap Rate 7%

$1,063,514

Cap Rate 9%

$827,178

Alternative Uses

Best Use

Multifamily LT 5

$1.14M

$1.00M – $1.33M (±1% cap)

NOI $80,078 @ 7.0% cap · market cap 9.71%

Second Best

Apartment 5plus

$1.06M

$930.6K – $1.24M (±1% cap)

NOI $74,446 @ 7.0% cap · market cap 9.02%

Theoretical Best

Office A

$2.37M

$2.08M – $2.77M (±1% cap)

NOI $166,106 @ 7.0% cap · market cap 20.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Skin Care Clinic Dental Office Acupuncture Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

1,797

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Three residential levels provide distinct bedroom and bathroom configurations for flexible occupancy planning.

Where is this triplex located?

The property is located at 2-4 Howard Pl Boston, MA.

What is the asking price?

The asking price for this property is $825,000.

What are key features of this property?

This property features: Three‑unit multifamily property with 3,169 square feet; Unit mix includes two 3 bed / 1 bath apartments and one 2 bed / 1.5 bath apartment; Built in 1905 and zoned R2