Separately Metered Two-Family
New
For Sale
$975,000
28-30 Etna St, Boston, MA 02135
Two spacious apartments include front porches and basement storage.
Property Size2,246 SF
Days on Market3
Property Features for 28-30 Etna St
General Information
Standard status
Active
Size
2,246 SF
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,086
Amenities
front porches
basement storage
fenced yard
Building Details
Building Size
2,246 SF
Year Built
1913
Buildings
1
Listing Agency:
Boston Realty Associates
Listed By:
Robert Imperato
(617) 277-5100
Source:
Classifiedrealtygroup
Added: Sep 5
Last Checked: Sep 7 at 5:42AM
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 Boston Realty Associates
Investment Insights
Based on property information with market context.
This 1913 duplex contains two separate apartments with spacious layouts, older kitchens and baths, and front porches serving both the first and second floors. The property also includes basement storage and a small fenced rear yard. Each unit is separately metered, tenants pay all utilities, and the current tenancy is structured under a 90-day TAW agreement. One heating system and the hot water tank have been replaced.
The property is located at 28-30 Etna St in Boston, within walking distance of Brighton Landing, shopping, and the commuter rail. Road access connects to Soldiers Field Road, the Massachusetts Turnpike in both directions, and Arsenal Yards in Watertown.
The property is located at 28-30 Etna St in Boston, within walking distance of Brighton Landing, shopping, and the commuter rail. Road access connects to Soldiers Field Road, the Massachusetts Turnpike in both directions, and Arsenal Yards in Watertown.
Key Highlights
- Two‑family duplex with two separate apartments
- Built in 1913 with spacious apartment layouts
- Separate metering for each apartment; tenants pay all utilities
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
$56,755
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
5.82%
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%
$1,135,100
$1.1M
Cap Rate 7%
$810,786
$810.8K
Cap Rate 9%
$630,611
$630.6K
Market Conditions
NOI Build-Up for 2,246 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
$84.9K $37.80/SF
− Vacancy
−$3.8K −$1.70/SF
EGI
$81.1K $36.10/SF
− OpEx
−$24.3K −$10.83/SF
NOI
$56.8K $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%
$1,135,100
Cap Rate 7%
$810,786
Cap Rate 9%
$630,611
Alternative Uses
Best Use
Multifamily LT 5
$810.8K
$709.4K – $945.9K
NOI $56,755 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$753.8K
$659.5K – $879.4K
NOI $52,763 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,726 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,984
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two spacious apartments include front porches and basement storage.
Where is this duplex located?
The property is located at 28-30 Etna St Boston, MA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two‑family duplex with two separate apartments; Built in 1913 with spacious apartment layouts; Separate metering for each apartment; tenants pay all utilities
