Duplex With Fenced
For Sale
$799,000
Pending
24 Colbert, Boston, MA 02132
Two-family property with a private outdoor area, on-site parking, and established transportation and neighborhood access.
Property Size2,008 SF
Days on Market118
Property Features for 24 Colbert
General Information
Standard status
Pending
Size
2,008 SF
Total Parking Spaces
6
Property subtype
2 Family - 2 Units Up/Down
Property Condition
Severity
Repairs Needed
Evidence
needs some work
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Insight Realty Group, Inc.
(781) 405-0932
Listed By:
Mary Devlin
(781) 405-0932
Source:
Lockandkeyre
Added: May 7
Changed: Aug 30
Last Checked: Aug 30 at 1:49PM
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 Insight Realty Group, Inc.
Investment Insights
Based on property information with market context.
Built in 1920, this two-family home offers 2,008 square feet with a layout suited to duplex ownership. The property includes a large, level fenced yard, while a mature front hedge provides separation from the one-way street without blocking natural light. On-site parking accommodates about 6 cars. The existing house needs work, providing a clear renovation component for a purchaser evaluating the property’s condition and location.
The home is beside Bellevue train station and Holy Name Church in West Roxbury. Heating systems are approximately 10 years old, and the hot water heaters were installed within the last 5 years. Together, the two-family configuration, outdoor space, parking, and proximity to the station define the property’s primary physical and location attributes.
The home is beside Bellevue train station and Holy Name Church in West Roxbury. Heating systems are approximately 10 years old, and the hot water heaters were installed within the last 5 years. Together, the two-family configuration, outdoor space, parking, and proximity to the station define the property’s primary physical and location attributes.
Key Highlights
- Two‑family home with 2,008 square feet
- Large, level fenced yard with mature front hedge
- On‑site parking for about 6 cars
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
$50,741
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
6.35%
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%
$1,014,820
$1.0M
Cap Rate 7%
$724,871
$724.9K
Cap Rate 9%
$563,789
$563.8K
Market Conditions
NOI Build-Up for 2,008 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
$75.9K $37.80/SF
− Vacancy
−$3.4K −$1.70/SF
EGI
$72.5K $36.10/SF
− OpEx
−$21.7K −$10.83/SF
NOI
$50.7K $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%
$1,014,820
Cap Rate 7%
$724,871
Cap Rate 9%
$563,789
Alternative Uses
Best Use
Multifamily LT 5
$724.9K
$634.3K – $845.7K
NOI $50,741 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$673.9K
$589.7K – $786.2K
NOI $47,172 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$1.50M
$1.32M – $1.75M
NOI $105,251 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
990
Businesses Nearby
Explore this area
Business Placement
Demographics for 02132, MA
27,111
Population
11,967
Households
2.3
Avg Household Size
44
Median Age
64%
College-Educated
95%
High-School Grad
4.9 sq mi
ZIP Area
5,533
Density / Sq Mi
$139,545
Median Household Income
$75,760
Median Earnings
$2,140
Median Rent
$714,000
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?
Duplex - Two-family property with a private outdoor area, on-site parking, and established transportation and neighborhood access.
Where is this duplex located?
The property is located at 24 Colbert Boston, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑family home with 2,008 square feet; Large, level fenced yard with mature front hedge; On‑site parking for about 6 cars
