Two-Family Duplex with Two-Car
New
For Sale
$1,300,000
39-41 Greenwood Ave, Boston, MA 02136
Residential Income, Boston, MA
Property Size2,688 SF
Lot Size0.25 Acres
Price / SF$483.63
Days on Market1
Property Features for 39-41 Greenwood Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 2
Parking
8
High school
New Mission High School
Directions
Please use GPS.
Subdivision
Hyde Park
Standard status
Active
APN
W:18 P:07683 S:000,1338046
Size
2,688 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8752
Amenities
sun porches
in-unit laundry
yard
garage
Building Details
Year built
1926
Floors in Building
2
Number of units
2
Listing Agency:
REMAX Andrew Realty Services · RE/MAX International
(781) 395-7676
Listed By:
John Veneziano
(617) 840-5499
Added: Sep 15
Last Checked: Sep 15 at 8:06PM
MLS# 73577471
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,688-square-foot duplex, built in 1926, contains two residential units with two bedrooms each. The first-floor unit includes hardwood floors, a living room, dining room, kitchen, full bathroom, and front and rear sun porches. The upper unit features a kitchen with adjoining pantry, separate living and dining rooms, a bonus room connected to one bedroom, and its own front and rear sun porches. Each unit has a separate in-unit laundry room.
The unfinished basement adds storage and utility space. The property also includes a long driveway, a generous yard, and a two-car garage that needs work. Electric water heaters were replaced in 2019, and the programmable water feeder was replaced in 2025. Zoning is R2. Hyde Park Commuter Rail, MBTA bus service, Cleary Square, shopping, dining, major routes, parks, and recreation are nearby, with Downtown Boston within easy reach.
The unfinished basement adds storage and utility space. The property also includes a long driveway, a generous yard, and a two-car garage that needs work. Electric water heaters were replaced in 2019, and the programmable water feeder was replaced in 2025. Zoning is R2. Hyde Park Commuter Rail, MBTA bus service, Cleary Square, shopping, dining, major routes, parks, and recreation are nearby, with Downtown Boston within easy reach.
Key Highlights
- Two‑unit duplex with two bedrooms in each unit
- 2,688 square feet on a 0.2491‑acre lot
- Front and rear sun porches serve both units
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
$67,924
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
5.22%
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%
$1,358,480
$1.4M
Cap Rate 7%
$970,343
$970.3K
Cap Rate 9%
$754,711
$754.7K
Market Conditions
NOI Build-Up for 2,688 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
$101.6K $37.80/SF
− Vacancy
−$4.6K −$1.70/SF
EGI
$97.0K $36.10/SF
− OpEx
−$29.1K −$10.83/SF
NOI
$67.9K $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%
$1,358,480
Cap Rate 7%
$970,343
Cap Rate 9%
$754,711
Alternative Uses
Best Use
Multifamily LT 5
$970.3K
$849.1K – $1.13M
NOI $67,924 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$902.1K
$789.3K – $1.05M
NOI $63,147 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,894 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with sun porches, separate laundry rooms, a basement, driveway parking, and a two-car garage.
Where is this duplex located?
The property is located at 39-41 Greenwood Ave Boston, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two‑unit duplex with two bedrooms in each unit; 2,688 square feet on a 0.2491‑acre lot; Front and rear sun porches serve both units
