Historic Residential Income
For Sale
$785,000
336 Saratoga St., Boston, MA 02128
Tri-level loft conversion with three bedrooms, two-and-a-half baths, historic architectural details, and an open kitchen, living, and dining layout.
Property Size1,840 SF
Price / SF$426.63
Days on Market61
Property Features for 336 Saratoga St.
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Amenities
Range
Dishwasher
Disposal
Microwave
Refrigerator
Washer
Dryer
Central Air
Wood
Tile
Forced Air
3.0 Stories
$8,335 Taxes
Public
Built in 1923
Building Details
Year Built
1923
Listing Agency:
Round Room
(617) 487-8082
Listed By:
Zachary Chapline
Source:
Donahuere
Added: Jun 25
Changed: Aug 22
Last Checked: Aug 23 at 2:26AM
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 Round Room
Investment Insights
Based on property information with market context.
Built in 1923, this residential income property is a front-facing, tri-level loft conversion at 336 Saratoga St. in Boston. The 1,840-square-foot residence includes three bedrooms and two-and-a-half baths, with a design that incorporates 24-foot ceilings, exposed brick, original timber beams, maple flooring, and oversized arched windows.
The main level centers on a chef’s kitchen with an island connected to open living and dining areas. French doors add separation while maintaining the home’s open character. The property is identified as being in Eagle Hill and was featured in the film “Mystic River.”
The main level centers on a chef’s kitchen with an island connected to open living and dining areas. French doors add separation while maintaining the home’s open character. The property is identified as being in Eagle Hill and was featured in the film “Mystic River.”
Key Highlights
- 1,840‑square‑foot tri‑level loft conversion
- Three bedrooms and two‑and‑a‑half baths
- 24‑foot ceilings with oversized arched windows
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
$43,225
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
5.51%
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%
$864,500
$864.5K
Cap Rate 7%
$617,500
$617.5K
Cap Rate 9%
$480,278
$480.3K
Market Conditions
NOI Build-Up for 1,840 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
$81.7K $44.40/SF
− Vacancy
−$3.1K −$1.69/SF
EGI
$78.6K $42.71/SF
− OpEx
−$35.4K −$19.22/SF
NOI
$43.2K $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%
$864,500
Cap Rate 7%
$617,500
Cap Rate 9%
$480,278
Alternative Uses
Best Use
Apartment 5plus
$617.5K
$540.3K – $720.4K
NOI $43,225 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,445 @ 7.0% cap · market cap 12.29%
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
1,601
Businesses Nearby
Explore this area
Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Tri-level loft conversion with three bedrooms, two-and-a-half baths, historic architectural details, and an open kitchen, living, and dining layout.
Where is this residential income property located?
The property is located at 336 Saratoga St. Boston, MA.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 1,840‑square‑foot tri‑level loft conversion; Three bedrooms and two‑and‑a‑half baths; 24‑foot ceilings with oversized arched windows
