Updated Two-Family
For Sale
$850,000
Pending
34 Favre St, Boston, MA 02126
Two matching units include an updated kitchen and bath, gas heat, and off-street parking.
Property Size1,920 SF
Days on Market78
Property Features for 34 Favre St
General Information
Standard status
Pending
Size
1,920 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,424
Amenities
fenced yard
off-street parking
Building Details
Building Size
1,920 SF
Year Built
1950
Buildings
1
Listing Agency:
RE/MAX Real Estate Center
(617) 921-5918
Listed By:
Watson Homes Team
Source:
Donnellyandco
Added: Jun 16
Changed: Aug 29
Last Checked: Jun 27 at 3:47PM
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 RE/MAX Real Estate Center
Investment Insights
Based on property information with market context.
Built in 1950, this duplex includes two similarly configured units within a well-maintained postwar residence. The second-floor apartment will be delivered vacant and features refinished white oak flooring, fresh interior paint, and updated kitchen and bathroom finishes. Both units have gas heat, while existing ductwork may support a future central air conditioning installation.
A full basement provides additional storage and may offer future finishing potential. The property also includes off-street parking and a fenced yard. The first-floor apartment is occupied by long-term tenants who are seeking to relocate; showings of that unit can be arranged for prospective purchasers preparing an offer.
The home is in Mattapan with access to Boston, within a short walk of commuter rail service and near shopping, restaurants, and everyday conveniences.
A full basement provides additional storage and may offer future finishing potential. The property also includes off-street parking and a fenced yard. The first-floor apartment is occupied by long-term tenants who are seeking to relocate; showings of that unit can be arranged for prospective purchasers preparing an offer.
The home is in Mattapan with access to Boston, within a short walk of commuter rail service and near shopping, restaurants, and everyday conveniences.
Key Highlights
- Two‑unit duplex with matching apartment layouts
- Second‑floor unit delivered vacant and move‑in ready
- Refinished white oak floors, fresh paint, and updated kitchen and bath
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
$48,517
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
5.71%
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%
$970,340
$970.3K
Cap Rate 7%
$693,100
$693.1K
Cap Rate 9%
$539,078
$539.1K
Market Conditions
NOI Build-Up for 1,920 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
$72.6K $37.80/SF
− Vacancy
−$3.3K −$1.70/SF
EGI
$69.3K $36.10/SF
− OpEx
−$20.8K −$10.83/SF
NOI
$48.5K $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%
$970,340
Cap Rate 7%
$693,100
Cap Rate 9%
$539,078
Alternative Uses
Best Use
Multifamily LT 5
$693.1K
$606.5K – $808.6K
NOI $48,517 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$644.4K
$563.8K – $751.8K
NOI $45,105 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,639 @ 7.0% cap · market cap 11.84%
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
776
Businesses Nearby
Explore this area
Business Placement
Demographics for 02126, MA
22,734
Population
9,617
Households
2.4
Avg Household Size
38
Median Age
24%
College-Educated
87%
High-School Grad
1.8 sq mi
ZIP Area
12,630
Density / Sq Mi
$67,206
Median Household Income
$42,397
Median Earnings
$1,659
Median Rent
$515,000
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 matching units include an updated kitchen and bath, gas heat, and off-street parking.
Where is this duplex located?
The property is located at 34 Favre St Boston, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑unit duplex with matching apartment layouts; Second‑floor unit delivered vacant and move‑in ready; Refinished white oak floors, fresh paint, and updated kitchen and bath
