Triplex with Rear
For Sale
$1,145,000
25 Howell St, Boston, MA 02125
3-family triplex on Howell St with matching unit layouts, rear decks, fenced backyard, and a full basement.
Property Size3,672 SF
Price / SF$311.82
Days on Market58
Property Features for 25 Howell St
General Information
Standard status
Active
Size
3,672 SF
Property subtype
3 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,688
Amenities
rear deck
fenced in backyard
full/unfinished basement
Building Details
Building Size
3,672 SF
Year Built
1905
Buildings
1
Listing Agency:
FRAME Residential
(617) 543-3900
Listed By:
Matthew Petty
Source:
Bethdickerson
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 11 at 12:36PM
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 FRAME Residential
Investment Insights
Based on property information with market context.
3-family triplex totaling 3,672 SF, built in 1905, offering three units that are virtually the same layout. Each unit features large living and dining rooms, eat-in kitchens with pantry space, two bedrooms, and one bathroom. The property is in need of improvements but is currently livable and has residents in place.
Each unit has a rear deck, and the property includes a fenced-in backyard and a full/unfinished basement. Notable building systems and exterior components include a flat rubber roof replaced in 2021, vinyl siding reported in good shape, and heating system updates with two of the three heating systems newer than the third.
Located in Dorchester’s Polish Triangle area, the property is close to JFK/UMass and Andrew T Stations, less than a mile to Carson Beach/Moakley Park, and just off I-93, Columbia Rd, and Morrissey Blvd. The existing unit configuration also supports consideration of updates to kitchens and baths, with the potential for alternative use such as condo conversion or long-term rent-and-hold after improvements.
Each unit has a rear deck, and the property includes a fenced-in backyard and a full/unfinished basement. Notable building systems and exterior components include a flat rubber roof replaced in 2021, vinyl siding reported in good shape, and heating system updates with two of the three heating systems newer than the third.
Located in Dorchester’s Polish Triangle area, the property is close to JFK/UMass and Andrew T Stations, less than a mile to Carson Beach/Moakley Park, and just off I-93, Columbia Rd, and Morrissey Blvd. The existing unit configuration also supports consideration of updates to kitchens and baths, with the potential for alternative use such as condo conversion or long-term rent-and-hold after improvements.
Key Highlights
- 3,672 SF three‑family triplex
- Units are virtually identical: two bedrooms and one bath
- Rear deck for each unit plus fenced‑in backyard
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
$92,789
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
8.10%
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%
$1,855,780
$1.9M
Cap Rate 7%
$1,325,557
$1.3M
Cap Rate 9%
$1,030,989
$1.0M
Market Conditions
NOI Build-Up for 3,672 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
$138.8K $37.80/SF
− Vacancy
−$6.2K −$1.70/SF
EGI
$132.6K $36.10/SF
− OpEx
−$39.8K −$10.83/SF
NOI
$92.8K $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%
$1,855,780
Cap Rate 7%
$1,325,557
Cap Rate 9%
$1,030,989
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $92,789 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,263 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,472 @ 7.0% cap · market cap 16.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 02125, MA
34,926
Population
14,999
Households
2.3
Avg Household Size
32
Median Age
42%
College-Educated
87%
High-School Grad
2.2 sq mi
ZIP Area
15,875
Density / Sq Mi
$71,810
Median Household Income
$52,106
Median Earnings
$1,897
Median Rent
$645,400
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?
Triplex - 3-family triplex on Howell St with matching unit layouts, rear decks, fenced backyard, and a full basement.
Where is this triplex located?
The property is located at 25 Howell St Boston, MA.
What is the asking price?
The asking price for this property is $1,145,000.
What are key features of this property?
This property features: 3,672 SF three‑family triplex; Units are virtually identical: two bedrooms and one bath; Rear deck for each unit plus fenced‑in backyard
