Two-Family Duplex With
For Sale
$1,625,000
25-27 Parsons St, Boston, MA 02135
Large two-family duplex delivered vacant, with a spacious backyard and potential for increased density under proposed zoning changes.
Property Size5,410 SF
Price / SF$300.37
Days on Market95
Property Features for 25-27 Parsons St
General Information
Standard status
Active
Size
5,410 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$84,886
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$18,661
Building Details
Building Size
5,410 SF
Year Built
1920
Stories
6
Listing Agency:
Herion Karbunara
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 3
Changed: Sep 4
Last Checked: Sep 5 at 4:40AM
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 Herion Karbunara
Investment Insights
Based on property information with market context.
This classic duplex-style two-family property is offered for sale as a large building with flexible holding options. The property may be maintained as two separate units, or renovated for updated residential income. It may also be suitable for redevelopment, and it can be delivered vacant for immediate occupancy, renovation, or redevelopment planning.
The property is located near Route 90 and major commuter routes, with access to MBTA commuter rail, Green Line service, and bus transportation. It is also close to Boston Landing and the New Balance headquarters, with nearby restaurants.
Public remarks indicate the property may support up to 6 market-rate units under proposed zoning changes expected in September, along with potential parking relief and increased density allowances for transit-oriented development. Buyers should perform their own due diligence. The spacious backyard may offer future parking potential.
The property is located near Route 90 and major commuter routes, with access to MBTA commuter rail, Green Line service, and bus transportation. It is also close to Boston Landing and the New Balance headquarters, with nearby restaurants.
Public remarks indicate the property may support up to 6 market-rate units under proposed zoning changes expected in September, along with potential parking relief and increased density allowances for transit-oriented development. Buyers should perform their own due diligence. The spacious backyard may offer future parking potential.
Key Highlights
- Duplex‑style two‑family property built in 1920, delivered vacant for immediate occupancy, renovation, or redevelopment.
- Large building offers flexibility as a two‑unit property for investors or owner‑occupants, with room to modernize.
- Proposed zoning changes expected in September may support up to 6 market‑rate units, with potential parking relief and increased density allowances for transit‑oriented development.
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
$136,707
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
8.41%
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%
$2,734,140
$2.7M
Cap Rate 7%
$1,952,957
$2.0M
Cap Rate 9%
$1,518,967
$1.5M
Market Conditions
NOI Build-Up for 5,410 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
$204.5K $37.80/SF
− Vacancy
−$9.2K −$1.70/SF
EGI
$195.3K $36.10/SF
− OpEx
−$58.6K −$10.83/SF
NOI
$136.7K $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%
$2,734,140
Cap Rate 7%
$1,952,957
Cap Rate 9%
$1,518,967
Alternative Uses
Best Use
Multifamily LT 5
$1.95M
$1.71M – $2.28M
NOI $136,707 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,092 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$4.05M
$3.54M – $4.73M
NOI $283,571 @ 7.0% cap · market cap 17.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,202
Businesses Nearby
Explore this area
Business Placement
Demographics for 02135, MA
47,232
Population
22,519
Households
2.1
Avg Household Size
29
Median Age
71%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
18,166
Density / Sq Mi
$88,208
Median Household Income
$57,124
Median Earnings
$2,179
Median Rent
$684,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Large two-family duplex delivered vacant, with a spacious backyard and potential for increased density under proposed zoning changes.
Where is this duplex located?
The property is located at 25-27 Parsons St Boston, MA.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: Duplex‑style two‑family property built in 1920, delivered vacant for immediate occupancy, renovation, or redevelopment.; Large building offers flexibility as a two‑unit property for investors or owner‑occupants, with room to modernize.; Proposed zoning changes expected in September may support up to 6 market‑rate units, with potential parking relief and increased density allowances for transit‑oriented development.
