Updated Two-Unit
For Sale
$1,350,000
259 Emerson St, Boston, MA 02127
Offers one one-bedroom and one three-bedroom apartment, each with one bathroom.
Property Size3,076 SF
Days on Market26
Property Features for 259 Emerson St
General Information
Standard status
Active
Size
3,076 SF
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
90 Walk Score "Walker's Paradise"
Updated modern finishes
Easy access to public transit
Building Details
Building Size
3,076 SF
Units
2
Listed By:
Tony Pepdjonovic · License #License(s): MA: 9525302
(617) 896-7277
Source:
Marcusmillichap
Added: Aug 8
Changed: Aug 29
Last Checked: Sep 1 at 2:43PM
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 Tony Pepdjonovic
Investment Insights
Based on property information with market context.
This two-unit duplex includes a one-bedroom, one-bathroom apartment and a separate three-bedroom, one-bathroom apartment. Both units feature updated finishes, providing a refreshed interior presentation across the property.
The property is located at 259 Emerson St in Boston’s South Boston area. It has a Walk Score of 90 and offers access to public transportation, multiple highways, and local amenities within walking distance.
The property is located at 259 Emerson St in Boston’s South Boston area. It has a Walk Score of 90 and offers access to public transportation, multiple highways, and local amenities within walking distance.
Key Highlights
- Two‑unit duplex with one 1‑bed/1‑bath apartment and one 3‑bed/1‑bath apartment
- Updated finishes in both apartments
- Walk Score of 90
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
$77,728
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
5.76%
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%
$1,554,560
$1.6M
Cap Rate 7%
$1,110,400
$1.1M
Cap Rate 9%
$863,644
$863.6K
Market Conditions
NOI Build-Up for 3,076 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
$116.3K $37.80/SF
− Vacancy
−$5.2K −$1.70/SF
EGI
$111.0K $36.10/SF
− OpEx
−$33.3K −$10.83/SF
NOI
$77.7K $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%
$1,554,560
Cap Rate 7%
$1,110,400
Cap Rate 9%
$863,644
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$971.6K – $1.30M
NOI $77,728 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$1.03M
$903.3K – $1.20M
NOI $72,262 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$2.30M
$2.02M – $2.69M
NOI $161,232 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
Explore this area
Business Placement
Demographics for 02127, MA
37,939
Population
19,495
Households
1.9
Avg Household Size
31
Median Age
69%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
18,066
Density / Sq Mi
$156,373
Median Household Income
$85,444
Median Earnings
$2,435
Median Rent
$858,600
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 - Offers one one-bedroom and one three-bedroom apartment, each with one bathroom.
Where is this duplex located?
The property is located at 259 Emerson St Boston, MA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Two‑unit duplex with one 1‑bed/1‑bath apartment and one 3‑bed/1‑bath apartment; Updated finishes in both apartments; Walk Score of 90
