Residential Income Property with
For Sale
$1,549,000
210 South Street, Boston, MA 02111
Top-floor corner residence with industrial character, harbor views, and updated interior finishes.
Property Size2,096 SF
Price / SF$739.03
Days on Market45
Property Features for 210 South Street
General Information
Standard status
Active
Size
2,096 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
Central Air, Individual, Unit Control
Wood
Tile
Carpet
Forced Air, Electric Baseboard, Electric, Individual,
1.0 Story
$12,825 Taxes
Public
Built in 1920
Building Details
Year Built
1920
Listing Agency:
Berkshire Hathaway HomeServices Robert Paul Properties
(617) 262-1414
Listed By:
Victoria Anfuso
Source:
Donahuere
Added: Jun 30
Changed: Aug 5
Last Checked: Aug 12 at 3:14AM
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 Robert Paul Properties
Investment Insights
Based on property information with market context.
This top-floor corner residence at 210 South Street offers 1,669 square feet of open-loft living, along with 427 square feet of deeded developable space above the home. The additional area is identified as suitable for a private studio, home office, or flex room, bringing the total stated area to 2,096 square feet.
Built in 1920, the property features soaring industrial ceilings, original arched windows, and harbor views. Recent updates include fresh paint, new appliances, engineered hardwood flooring, and a new water heater.
Built in 1920, the property features soaring industrial ceilings, original arched windows, and harbor views. Recent updates include fresh paint, new appliances, engineered hardwood flooring, and a new water heater.
Key Highlights
- 1,669 SF of open‑loft living with 427 SF of deeded developable space
- Total stated area of 2,096 SF
- Top‑floor corner residence at 210 South Street
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
$49,239
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
3.18%
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%
$984,780
$984.8K
Cap Rate 7%
$703,414
$703.4K
Cap Rate 9%
$547,100
$547.1K
Market Conditions
NOI Build-Up for 2,096 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
$93.1K $44.40/SF
− Vacancy
−$3.5K −$1.69/SF
EGI
$89.5K $42.71/SF
− OpEx
−$40.3K −$19.22/SF
NOI
$49.2K $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%
$984,780
Cap Rate 7%
$703,414
Cap Rate 9%
$547,100
Alternative Uses
Best Use
Apartment 5plus
$703.4K
$615.5K – $820.7K
NOI $49,239 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,864 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
20,263
Businesses Nearby
Explore this area
Business Placement
Demographics for 02111, MA
9,716
Population
4,535
Households
2.1
Avg Household Size
34
Median Age
57%
College-Educated
83%
High-School Grad
0.2 sq mi
ZIP Area
48,580
Density / Sq Mi
$70,865
Median Household Income
$42,225
Median Earnings
$1,994
Median Rent
$953,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor corner residence with industrial character, harbor views, and updated interior finishes.
Where is this residential income property located?
The property is located at 210 South Street Boston, MA.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: 1,669 SF of open‑loft living with 427 SF of deeded developable space; Total stated area of 2,096 SF; Top‑floor corner residence at 210 South Street
