Two-Family Residential
For Sale
$1,049,000
33 Paragon Rd, Boston, MA 02132
Two-unit duplex features two 2-bedroom apartments, hardwood floors, and an open-concept kitchen and living area in Unit 2.
Property Size1,728 SF
Price / SF$607.06
Days on Market176
Property Features for 33 Paragon Rd
General Information
Standard status
Active
Size
1,728 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$69,600
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,869
Building Details
Building Size
1,728 SF
Year Built
1945
Stories
2
Listing Agency:
Prestige Realty Experts Inc.
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 16
Changed: Sep 6
Last Checked: Sep 7 at 5:17AM
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 Prestige Realty Experts Inc.
Investment Insights
Based on property information with market context.
This two-family duplex includes two separate 2-bedroom apartments. Unit 1 offers 2 bedrooms and hardwood floors and is currently vacant. Unit 2 is also a 2-bedroom layout with an open-concept kitchen and living room and receives plenty of natural light.
The property sits on Paragon Road and provides easy access to the VFW Parkway and Route 95. It also includes a large backyard suited for outdoor use.
At closing, the house can be delivered vacant, with Unit 2 currently rented. The overall configuration supports straightforward owner-occupancy or rental income with separate unit setups.
The property sits on Paragon Road and provides easy access to the VFW Parkway and Route 95. It also includes a large backyard suited for outdoor use.
At closing, the house can be delivered vacant, with Unit 2 currently rented. The overall configuration supports straightforward owner-occupancy or rental income with separate unit setups.
Key Highlights
- Duplex built in 1945 with two 2‑bedroom apartments
- Unit 1 has 2 bedrooms and hardwood floors; unit 1 is currently vacant
- Unit 2 features an open‑concept kitchen and living room and has 2 bedrooms
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
$43,665
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
4.16%
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%
$873,300
$873.3K
Cap Rate 7%
$623,786
$623.8K
Cap Rate 9%
$485,167
$485.2K
Market Conditions
NOI Build-Up for 1,728 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
$65.3K $37.80/SF
− Vacancy
−$2.9K −$1.70/SF
EGI
$62.4K $36.10/SF
− OpEx
−$18.7K −$10.83/SF
NOI
$43.7K $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%
$873,300
Cap Rate 7%
$623,786
Cap Rate 9%
$485,167
Alternative Uses
Best Use
Multifamily LT 5
$623.8K
$545.8K – $727.8K
NOI $43,665 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$579.9K
$507.4K – $676.6K
NOI $40,594 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,575 @ 7.0% cap · market cap 8.63%
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
642
Businesses Nearby
Explore this area
Business Placement
Demographics for 02132, MA
27,111
Population
11,967
Households
2.3
Avg Household Size
44
Median Age
64%
College-Educated
95%
High-School Grad
4.9 sq mi
ZIP Area
5,533
Density / Sq Mi
$139,545
Median Household Income
$75,760
Median Earnings
$2,140
Median Rent
$714,000
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-unit duplex features two 2-bedroom apartments, hardwood floors, and an open-concept kitchen and living area in Unit 2.
Where is this duplex located?
The property is located at 33 Paragon Rd Boston, MA.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: Duplex built in 1945 with two 2‑bedroom apartments; Unit 1 has 2 bedrooms and hardwood floors; unit 1 is currently vacant; Unit 2 features an open‑concept kitchen and living room and has 2 bedrooms
