Residential Income Property with
For Sale
$824,900
22 Hawthorne Street, Boston, MA 02119
2015-built Boston residence offers three bedrooms, generous storage, and dedicated parking accommodations.
Property Size1,618 SF
Price / SF$509.83
Days on Market82
Property Features for 22 Hawthorne Street
General Information
Standard status
Active
Size
1,618 SF
Total Parking Spaces
2
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Amenities
Range
Dishwasher
Disposal
Microwave
Refrigerator
Washer
Dryer
Central Air, Individual, Unit Control
1 Fireplace
Hardwood
Forced Air, Natural Gas, Individual, Unit Control
2.0 Stories
$5,977 Taxes
Public
Built in 2015
Building Details
Year Built
2015
Listing Agency:
Gibson Sotheby's International Realty
(617) 426-6900
Listed By:
Joe Wolvek
Source:
Donahuere
Added: Jun 3
Changed: Aug 5
Last Checked: Aug 23 at 2:26AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located at 22 Hawthorne Street in Boston’s Fort Hill area, this 2015-built residential income property combines a three-bedroom, 2.5-bath layout with updated interior finishes. The home includes wood flooring, recessed lighting, crown molding, built-in bookshelves, and wainscoting. An open kitchen features white shaker cabinetry, stainless-steel appliances, a wine refrigerator, gas range, granite countertops, and a substantial center island. Sliding doors connect the kitchen to a deck measuring approximately 22 by 6 feet, while the adjoining dining area accommodates a large table.
Additional features include one garage space, one exterior parking space, a storage room measuring approximately 10 by 13 feet or larger, and a 700-square-foot attic. The property is situated on Hawthorne Street within Boston’s historic Fort Hill neighborhood.
Additional features include one garage space, one exterior parking space, a storage room measuring approximately 10 by 13 feet or larger, and a 700-square-foot attic. The property is situated on Hawthorne Street within Boston’s historic Fort Hill neighborhood.
Key Highlights
- 2015‑built residential property with 3 bedrooms and 2.5 baths
- One garage space plus one exterior parking space
- Approximately 700 SF attic and 10' X 13'+- storage room
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
$38,010
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
4.61%
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%
$760,200
$760.2K
Cap Rate 7%
$543,000
$543.0K
Cap Rate 9%
$422,333
$422.3K
Market Conditions
NOI Build-Up for 1,618 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
$71.8K $44.40/SF
− Vacancy
−$2.7K −$1.69/SF
EGI
$69.1K $42.71/SF
− OpEx
−$31.1K −$19.22/SF
NOI
$38.0K $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%
$760,200
Cap Rate 7%
$543,000
Cap Rate 9%
$422,333
Alternative Uses
Best Use
Apartment 5plus
$543.0K
$475.1K – $633.5K
NOI $38,010 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,809 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,886
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - 2015-built Boston residence offers three bedrooms, generous storage, and dedicated parking accommodations.
Where is this residential income property located?
The property is located at 22 Hawthorne Street Boston, MA.
What is the asking price?
The asking price for this property is $824,900.
What are key features of this property?
This property features: 2015‑built residential property with 3 bedrooms and 2.5 baths; One garage space plus one exterior parking space; Approximately 700 SF attic and 10' X 13'+- storage room
