Two-Unit Residential Income
New
For Sale
$1,990,000
26 Adelaide Street, Boston, MA 02130
Fully renovated condominium package with private outdoor space, two parking spaces, and separate in-unit laundry.
Property Size2,689 SF
Days on Market4
Property Features for 26 Adelaide Street
General Information
Standard status
Active
Size
2,689 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
RES
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
in-unit laundry
private rear deck
attic/basement storage
Building Details
Building Size
2,689 SF
Year Built
1920
Stories
2
Units
2
Listing Agency:
Coldwell Banker Realty - Belmont
(617) 848-0000
Listed By:
Delrose McShane Team
(617) 848-0000
Source:
Aucoinryanrealty
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 8 at 11:48AM
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 Coldwell Banker Realty - Belmont
Investment Insights
Based on property information with market context.
This residential income property comprises two condominium units arranged across the second and third floors. Both units have undergone full gut renovations, with updated kitchens featuring black stainless steel GE Café appliances, quartz countertops, and a 12-foot island on the second level. Each residence includes a primary suite with an en-suite bathroom, additional bedrooms, in-unit laundry, and dedicated attic and basement storage. A private rear deck and off-street parking for two vehicles add practical amenities.
The property is located near Centre Street, Jamaica Pond, and public transportation in Jamaica Plain. Built in 1920 and zoned RES, the two-unit configuration supports a range of residential ownership and occupancy arrangements, including multi-generational use and investment ownership.
The property is located near Centre Street, Jamaica Pond, and public transportation in Jamaica Plain. Built in 1920 and zoned RES, the two-unit configuration supports a range of residential ownership and occupancy arrangements, including multi-generational use and investment ownership.
Key Highlights
- Two condominium units spanning the 2nd and 3rd floors
- Full gut renovations completed in both units
- Second‑level kitchen includes a 12‑foot island
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
$63,170
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
3.17%
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%
$1,263,400
$1.3M
Cap Rate 7%
$902,429
$902.4K
Cap Rate 9%
$701,889
$701.9K
Market Conditions
NOI Build-Up for 2,689 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
$119.4K $44.40/SF
− Vacancy
−$4.5K −$1.69/SF
EGI
$114.9K $42.71/SF
− OpEx
−$51.7K −$19.22/SF
NOI
$63.2K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,263,400
Cap Rate 7%
$902,429
Cap Rate 9%
$701,889
Alternative Uses
Best Use
Apartment 5plus
$902.4K
$789.6K – $1.05M
NOI $63,170 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,947 @ 7.0% cap · market cap 7.08%
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
2,020
Businesses Nearby
Explore this area
Business Placement
Demographics for 02130, MA
38,284
Population
18,802
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
3.5 sq mi
ZIP Area
10,938
Density / Sq Mi
$130,533
Median Household Income
$73,238
Median Earnings
$2,434
Median Rent
$763,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Fully renovated condominium package with private outdoor space, two parking spaces, and separate in-unit laundry.
Where is this residential income property located?
The property is located at 26 Adelaide Street Boston, MA.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Two condominium units spanning the 2nd and 3rd floors; Full gut renovations completed in both units; Second‑level kitchen includes a 12‑foot island
