Brick Duplex with Unfinished
New
For Sale
$1,600,000
24 Auburn St, Boston, MA 02129
Two-level residential income property with period details, separate apartment layouts, and a fenced yard with deck access.
Property Size2,590 SF
Days on Market4
Property Features for 24 Auburn St
General Information
Standard status
Active
Size
2,590 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$12,678
Building Details
Building Size
2,590 SF
Year Built
1900
Stories
3
Units
2
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
Nancy Roth · License #449545337
(617) 429-6396
Source:
Elliman
Added: Sep 10
Last Checked: Sep 13 at 5:30AM
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.
This 1900 brick duplex contains nearly 2,600 square feet of living space, plus 917sf of unfinished basement area. The property includes a first-floor 1BR/1BA apartment of 900+sf and an upper 3+BR/1BA duplex spanning 1,600sf. Interior features include a gracious entry foyer, tall ceilings, large windows, original oak and pine flooring, formal living and dining rooms, and kitchens in both units. The upper residence also includes stainless appliances, quartz countertops, a study, and a separate laundry room/pantry.
Outdoor features include a private deck connected to the first-floor kitchen and a large fenced yard. Located on Auburn St in Charlestown, the property is near parks, local dining, shopping, and transportation to downtown Boston. Walk Score is 91, Transit Score is 71, and Bike Score is 68.
Outdoor features include a private deck connected to the first-floor kitchen and a large fenced yard. Located on Auburn St in Charlestown, the property is near parks, local dining, shopping, and transportation to downtown Boston. Walk Score is 91, Transit Score is 71, and Bike Score is 68.
Key Highlights
- Nearly 2,600 square feet of living space plus 917sf of unfinished basement area
- First‑floor 1BR/1BA apartment measures 900+sf
- Upper 3+BR/1BA duplex spans 1,600sf and includes a study
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
$65,447
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
4.09%
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%
$1,308,940
$1.3M
Cap Rate 7%
$934,957
$935.0K
Cap Rate 9%
$727,189
$727.2K
Market Conditions
NOI Build-Up for 2,590 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
$97.9K $37.80/SF
− Vacancy
−$4.4K −$1.70/SF
EGI
$93.5K $36.10/SF
− OpEx
−$28.0K −$10.83/SF
NOI
$65.4K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,308,940
Cap Rate 7%
$934,957
Cap Rate 9%
$727,189
Alternative Uses
Best Use
Multifamily LT 5
$935.0K
$818.1K – $1.09M
NOI $65,447 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$869.2K
$760.6K – $1.01M
NOI $60,844 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,757 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,342
Businesses Nearby
Explore this area
Business Placement
Demographics for 02129, MA
19,120
Population
9,987
Households
1.9
Avg Household Size
36
Median Age
71%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
13,657
Density / Sq Mi
$157,192
Median Household Income
$101,310
Median Earnings
$2,258
Median Rent
$926,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level residential income property with period details, separate apartment layouts, and a fenced yard with deck access.
Where is this duplex located?
The property is located at 24 Auburn St Boston, MA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Nearly 2,600 square feet of living space plus 917sf of unfinished basement area; First‑floor 1BR/1BA apartment measures 900+sf; Upper 3+BR/1BA duplex spans 1,600sf and includes a study
