Renovated Three-Unit
For Sale
$1,039,000
Pending
317 Wood Ave, Boston, MA 02136
Three residential units feature updated kitchens, baths, windows, hardwood floors, basement laundry, and dedicated parking.
Property Size2,646 SF
Days on Market41
Property Features for 317 Wood Ave
General Information
Standard status
Pending
Size
2,646 SF
Total Parking Spaces
3
Property subtype
Residential Income
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,245
Amenities
coin-op laundry
Listing Agency:
eXp Realty LLC - Corporate Office
(781) 389-0293
Listed By:
Robert Hadge · License #103933
(781) 389-0293
Source:
Exprealty
Added: Jul 23
Changed: Aug 31
Last Checked: Aug 30 at 9:07PM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
317 Wood Ave is a three-unit residential property with one three-bedroom, one-bath apartment on each floor. The kitchens, bathrooms, and windows were renovated during current ownership, while hardwood flooring extends throughout the units. Each kitchen includes a dishwasher and garbage disposal, and the basement provides coin-operated laundry facilities.
The property includes three parking spaces and separate water tanks and heating systems, with two systems installed in 2010 and another in 2018. The roof was replaced in 2020, and the interior and exterior were repainted in July 2026. The first-floor apartment is occupied, while the second- and third-floor units are vacant. The property is located in Boston’s Hyde Park neighborhood.
The property includes three parking spaces and separate water tanks and heating systems, with two systems installed in 2010 and another in 2018. The roof was replaced in 2020, and the interior and exterior were repainted in July 2026. The first-floor apartment is occupied, while the second- and third-floor units are vacant. The property is located in Boston’s Hyde Park neighborhood.
Key Highlights
- Three‑unit property with 3 three‑bedroom, 1 full bath apartments
- Renovated kitchens, baths, and windows completed during current ownership
- Roof replaced in 2020
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
$66,863
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
6.44%
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%
$1,337,260
$1.3M
Cap Rate 7%
$955,186
$955.2K
Cap Rate 9%
$742,922
$742.9K
Market Conditions
NOI Build-Up for 2,646 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
$100.0K $37.80/SF
− Vacancy
−$4.5K −$1.70/SF
EGI
$95.5K $36.10/SF
− OpEx
−$28.7K −$10.83/SF
NOI
$66.9K $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%
$1,337,260
Cap Rate 7%
$955,186
Cap Rate 9%
$742,922
Alternative Uses
Best Use
Multifamily LT 5
$955.2K
$835.8K – $1.11M
NOI $66,863 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$888.0K
$777.0K – $1.04M
NOI $62,160 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,693 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Explore this area
Business Placement
Demographics for 02136, MA
35,102
Population
14,031
Households
2.5
Avg Household Size
39
Median Age
32%
College-Educated
88%
High-School Grad
4.6 sq mi
ZIP Area
7,631
Density / Sq Mi
$96,862
Median Household Income
$50,793
Median Earnings
$1,772
Median Rent
$566,300
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?
Triplex - Three residential units feature updated kitchens, baths, windows, hardwood floors, basement laundry, and dedicated parking.
Where is this triplex located?
The property is located at 317 Wood Ave Boston, MA.
What is the asking price?
The asking price for this property is $1,039,000.
What are key features of this property?
This property features: Three‑unit property with 3 three‑bedroom, 1 full bath apartments; Renovated kitchens, baths, and windows completed during current ownership; Roof replaced in 2020
