West Side Two-Family
For Sale
$1,999,000
271 W 5th St, Boston, MA 02127
Two-family property near West Broadway with income potential.
Property Size2,285 SF
Price / SF$874.84
Days on Market196
Property Features for 271 W 5th St
General Information
Standard status
Active
Size
2,285 SF
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$149,100
Taxes and HOA fees
Annual Taxes
$17,833
Building Details
Building Size
2,285 SF
Year Built
1890
Stories
4
Listing Agency:
REMAX Executive Realty
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 2
Changed: Sep 14
Last Checked: Sep 14 at 7:24AM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This West Side two-family property presents an opportunity for investors or owner-occupiers. Unit 1 is currently leased for $6,225 until August 2027. Unit 2 will be available for owner occupancy starting September 1, 2026, as the current tenant is not renewing. The property is situated in a sought-after location near West Broadway and Dorchester Street, two blocks from Lincoln and Loco on West Broadway. It offers convenient access to the Broadway and Andrew Redline stations, as well as MBTA bus routes 7, 9, 10, and 11. Each unit features in-unit laundry, dishwashers, gas heat, central AC, and decks. Unit 1 is a spacious, modern apartment with 5 bedrooms and 2 full bathrooms, while Unit 2 has 4 bedrooms and 2 bathrooms. The property size is 2285 square feet. The annual rent is $145,500, resulting in a 6.9% cap rate before expenses and a 5.7% cap rate after actual 2025 expenses. Income and expense data, along with existing leases, are available.
Key Highlights
- High annual rental income of $145,500, resulting in a 6.9% cap rate before expenses.
- Opportunity for owner‑occupancy starting 9/1/2026 in Unit 2, which has 4 bedrooms and 2 bathrooms.
- Unit 1 is currently leased for $6,225 until 8/2027, providing immediate rental income.
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
$57,740
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
2.89%
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%
$1,154,800
$1.2M
Cap Rate 7%
$824,857
$824.9K
Cap Rate 9%
$641,556
$641.6K
Market Conditions
NOI Build-Up for 2,285 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
$86.4K $37.80/SF
− Vacancy
−$3.9K −$1.70/SF
EGI
$82.5K $36.10/SF
− OpEx
−$24.7K −$10.83/SF
NOI
$57.7K $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%
$1,154,800
Cap Rate 7%
$824,857
Cap Rate 9%
$641,556
Alternative Uses
Best Use
Multifamily LT 5
$824.9K
$721.8K – $962.3K
NOI $57,740 @ 7.0% cap · market cap 2.89%
Second Best
Apartment 5plus
$766.8K
$671.0K – $894.7K
NOI $53,679 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,771 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,037
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property near West Broadway with income potential.
Where is this duplex located?
The property is located at 271 W 5th St Boston, MA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: High annual rental income of $145,500, resulting in a 6.9% cap rate before expenses.; Opportunity for owner‑occupancy starting 9/1/2026 in Unit 2, which has 4 bedrooms and 2 bathrooms.; Unit 1 is currently leased for $6,225 until 8/2027, providing immediate rental income.
