Residential Income Property with
For Sale
$989,000
29 Woodford St, Boston, MA 02125
Four-bedroom residence with custom interiors, dedicated workspace, and access to public transportation.
Property Size2,040 SF
Price / SF$484.80
Days on Market38
Property Features for 29 Woodford St
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Apartment
Units
Unit Mix
1 x 4BR/2.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
custom cabinetry
under-cabinet lighting
premium finishes
custom closets
built-ins
dedicated workstation
private outdoor spaces
rear deck
front deck
Oven
Dishwasher
Microwave
Range
Refrigerator
Central Air
1 Fireplace
Engineered Hardwood
Central, Natural Gas
3.0 Stories
$1,121 Taxes
Public
Built in 2023
Building Details
Year Built
2023
Listing Agency:
Century 21 North East
(617) 389-1129
Listed By:
MG Group
Source:
Donahuere
Added: Jul 17
Changed: Aug 22
Last Checked: Aug 23 at 2:25AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
Completed in 2023, this residential income property at 29 Woodford St, Unit 3 offers approximately 2,040 square feet with four bedrooms and two and a half baths. The interior centers on an open-concept floor plan with a custom kitchen featuring tailored cabinetry, under-cabinet lighting, premium finishes, and substantial counter space. Custom closets, built-ins, and a dedicated workstation provide additional organization and utility.
Three private outdoor areas extend the living space, including a rear deck sized for outdoor dining and a front deck with city views. The property is situated near public transportation in Boston, Massachusetts.
Three private outdoor areas extend the living space, including a rear deck sized for outdoor dining and a front deck with city views. The property is situated near public transportation in Boston, Massachusetts.
Key Highlights
- Completed in 2023
- Approximately 2,040 sq. ft. with 4 bedrooms and 2.5 baths
- Open‑concept layout with custom kitchen cabinetry and under‑cabinet lighting
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
$47,924
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
4.85%
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%
$958,480
$958.5K
Cap Rate 7%
$684,629
$684.6K
Cap Rate 9%
$532,489
$532.5K
Market Conditions
NOI Build-Up for 2,040 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
$90.6K $44.40/SF
− Vacancy
−$3.4K −$1.69/SF
EGI
$87.1K $42.71/SF
− OpEx
−$39.2K −$19.22/SF
NOI
$47.9K $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%
$958,480
Cap Rate 7%
$684,629
Cap Rate 9%
$532,489
Alternative Uses
Best Use
Apartment 5plus
$684.6K
$599.1K – $798.7K
NOI $47,924 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,929 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,842
Businesses Nearby
Explore this area
Business Placement
Demographics for 02125, MA
34,926
Population
14,999
Households
2.3
Avg Household Size
32
Median Age
42%
College-Educated
87%
High-School Grad
2.2 sq mi
ZIP Area
15,875
Density / Sq Mi
$71,810
Median Household Income
$52,106
Median Earnings
$1,897
Median Rent
$645,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Four-bedroom residence with custom interiors, dedicated workspace, and access to public transportation.
Where is this residential income property located?
The property is located at 29 Woodford St Boston, MA.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Completed in 2023; Approximately 2,040 sq. ft. with 4 bedrooms and 2.5 baths; Open‑concept layout with custom kitchen cabinetry and under‑cabinet lighting
