Three-Story Duplex with Private
For Sale
$1,100,000
Pending
29 Green St, Boston, MA 02129
Two residential units provide three bedrooms, full baths, and dedicated storage areas.
Property Size1,801 SF
Days on Market93
Property Features for 29 Green St
General Information
Standard status
Pending
Size
1,801 SF
Property subtype
Multi Family Home
Zoning
R2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,642
Amenities
storage
private deck
Building Details
Building Size
1,801 SF
Year Built
1875
Buildings
1
Stories
3
Units
2
Listing Agency:
Coldwell Banker Realty - Boston
(617) 242-0025
Listed By:
Kim Douglas
(610) 805-0361
Source:
Alliancepartnersre
Added: Jun 2
Changed: Aug 29
Last Checked: Jun 4 at 12:09PM
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 - Boston
Investment Insights
Based on property information with market context.
This two-family residential property contains 1,801 square feet across three stories. The layout includes three bedrooms in total, with one bedroom assigned to Unit 1 and two to Unit 2. Each apartment has one full bathroom and storage space, while Unit 2 includes a private deck adjoining its large kitchen. The building was constructed in 1875 and is served by one heating system.
Located at 29 Green Street in Boston’s Charlestown area, the property combines a two-unit configuration with current occupancy details. Unit 1 is TAW, while Unit 2 is leased through 1/31/27. A gas water heater was installed in 2024, and the oil tank dates to 2025.
Located at 29 Green Street in Boston’s Charlestown area, the property combines a two-unit configuration with current occupancy details. Unit 1 is TAW, while Unit 2 is leased through 1/31/27. A gas water heater was installed in 2024, and the oil tank dates to 2025.
Key Highlights
- 1,801‑square‑foot duplex arranged across three stories
- Three bedrooms total: one in Unit 1 and two in Unit 2
- Each unit includes 1 full bathroom and storage space
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
$45,510
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
4.14%
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%
$910,200
$910.2K
Cap Rate 7%
$650,143
$650.1K
Cap Rate 9%
$505,667
$505.7K
Market Conditions
NOI Build-Up for 1,801 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
$68.1K $37.80/SF
− Vacancy
−$3.1K −$1.70/SF
EGI
$65.0K $36.10/SF
− OpEx
−$19.5K −$10.83/SF
NOI
$45.5K $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%
$910,200
Cap Rate 7%
$650,143
Cap Rate 9%
$505,667
Alternative Uses
Best Use
Multifamily LT 5
$650.1K
$568.9K – $758.5K
NOI $45,510 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$604.4K
$528.9K – $705.2K
NOI $42,309 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,401 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,797
Businesses Nearby
Explore this area
Business Placement
Demographics for 02129, MA
19,120
Population
9,987
Households
1.9
Avg Household Size
36
Median Age
71%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
13,657
Density / Sq Mi
$157,192
Median Household Income
$101,310
Median Earnings
$2,258
Median Rent
$926,000
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 residential units provide three bedrooms, full baths, and dedicated storage areas.
Where is this duplex located?
The property is located at 29 Green St Boston, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 1,801‑square‑foot duplex arranged across three stories; Three bedrooms total: one in Unit 1 and two in Unit 2; Each unit includes 1 full bathroom and storage space
