Updated Triplex with Additional
For Sale
$1,250,000
21 Wildwood St, Boston, MA 02124
Recently updated three-family property with full occupancy and an additional lot.
Property Size4,731 SF
Price / SF$264.21
Days on Market49
Property Features for 21 Wildwood St
General Information
Standard status
Active
Size
4,731 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$13,348
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
eXp Realty LLC - Corporate Office
(888) 854-7493
Listed By:
Paige Thompson
(617) 756-3920
Source:
Exprealty
Added: Jul 17
Changed: Aug 31
Last Checked: Sep 2 at 2:35AM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
This recently updated triplex contains three residential units and is fully rented. The tenant profile includes two Section 8 households and one market-rate tenant, providing a mix of subsidized and conventional occupancy. The property includes 4,731 square feet along with an additional 4,000-square-foot lot.
Located at 21 Wildwood St in Boston, the offering combines the existing three-family building with the adjoining lot. The basement is also identified in the property information as an area associated with possible ADU expansion, subject to applicable approvals and requirements.
Located at 21 Wildwood St in Boston, the offering combines the existing three-family building with the adjoining lot. The basement is also identified in the property information as an area associated with possible ADU expansion, subject to applicable approvals and requirements.
Key Highlights
- Three‑family triplex with 4,731 square feet
- Fully rented with two Section 8 tenants and one market tenant
- Recently updated property
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
$111,141
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
8.89%
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%
$2,222,820
$2.2M
Cap Rate 7%
$1,587,729
$1.6M
Cap Rate 9%
$1,234,900
$1.2M
Market Conditions
NOI Build-Up for 4,731 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
$210.1K $44.40/SF
− Vacancy
−$8.0K −$1.69/SF
EGI
$202.1K $42.71/SF
− OpEx
−$90.9K −$19.22/SF
NOI
$111.1K $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%
$2,222,820
Cap Rate 7%
$1,587,729
Cap Rate 9%
$1,234,900
Alternative Uses
Best Use
Multifamily LT 5
$1.71M
$1.49M – $1.99M
NOI $119,549 @ 7.0% cap · market cap 9.56%
Second Best
Apartment 5plus
$1.59M
$1.39M – $1.85M
NOI $111,141 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $247,980 @ 7.0% cap · market cap 19.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Explore this area
Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
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 - Recently updated three-family property with full occupancy and an additional lot.
Where is this triplex located?
The property is located at 21 Wildwood St Boston, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑family triplex with 4,731 square feet; Fully rented with two Section 8 tenants and one market tenant; Recently updated property
