Condominium Income Property with
For Sale
$369,900
21 Westgate Rd, Boston, MA 02467
Two-bedroom condominium with updated finishes, included appliances, and access to shared recreational amenities.
Property Size770 SF
Price / SF$480.39
Days on Market67
Property Features for 21 Westgate Rd
General Information
Standard status
Active
Size
770 SF
Property subtype
Apartment
Amenities
inground swimming pool
tennis courts
playground
Range
Dishwasher
Disposal
Microwave
Refrigerator
Wall Unit(s)
Tile
Bamboo
Baseboard, Natural Gas
1.0 Story
$4,131 Taxes
Public
Built in 1955
Building Details
Year Built
1955
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
(508) 435-6333
Listed By:
Julie Burgey Kehoe
Source:
Donahuere
Added: Jun 4
Changed: Aug 8
Last Checked: Aug 9 at 4:28AM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
Investment Insights
Based on property information with market context.
This 770-square-foot condominium contains two bedrooms and one bathroom within a layout designed for practical daily living. The interior has been freshly painted and features bamboo or wood flooring, solid-surface kitchen countertops, and ample closet space. Appliances are included, and a deck or balcony extends from the living room.
Community amenities include an inground swimming pool, tennis courts, and a playground. The property is located at 21 Westgate Rd in Boston’s Chestnut Hill/West Roxbury area, near shopping, dining, parks, and public transportation. Built in 1955, the condominium combines established construction with refreshed interior finishes and shared outdoor amenities.
Community amenities include an inground swimming pool, tennis courts, and a playground. The property is located at 21 Westgate Rd in Boston’s Chestnut Hill/West Roxbury area, near shopping, dining, parks, and public transportation. Built in 1955, the condominium combines established construction with refreshed interior finishes and shared outdoor amenities.
Key Highlights
- 770 sq. ft. condominium with 2 bedrooms and 1 bathroom
- Freshly painted interior with bamboo or wood flooring
- Kitchen includes solid‑surface countertops and appliances
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
$18,089
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
4.89%
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%
$361,780
$361.8K
Cap Rate 7%
$258,414
$258.4K
Cap Rate 9%
$200,989
$201.0K
Market Conditions
NOI Build-Up for 770 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
$34.2K $44.40/SF
− Vacancy
−$1.3K −$1.69/SF
EGI
$32.9K $42.71/SF
− OpEx
−$14.8K −$19.22/SF
NOI
$18.1K $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%
$361,780
Cap Rate 7%
$258,414
Cap Rate 9%
$200,989
Alternative Uses
Best Use
Apartment 5plus
$258.4K
$226.1K – $301.5K
NOI $18,089 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$576.6K
$504.5K – $672.7K
NOI $40,360 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 02467, MA
22,626
Population
7,293
Households
3.1
Avg Household Size
31
Median Age
83%
College-Educated
99%
High-School Grad
4.9 sq mi
ZIP Area
4,618
Density / Sq Mi
$173,854
Median Household Income
$47,877
Median Earnings
$3,067
Median Rent
$1,249,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with updated finishes, included appliances, and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 21 Westgate Rd Boston, MA.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 770 sq. ft. condominium with 2 bedrooms and 1 bathroom; Freshly painted interior with bamboo or wood flooring; Kitchen includes solid‑surface countertops and appliances
