Improved Three-Family
For Sale
$1,849,000
39 Glen Rd, Boston, MA 02130
R3-zoned residential income property with renovated systems, separate climate control, outdoor decks, and shared laundry facilities.
Property Size3,519 SF
Price / SF$525.43
Days on Market49
Property Features for 39 Glen Rd
General Information
Standard status
Active
Size
3,519 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
R3
Net Operating Income
$141,600
Taxes and HOA fees
Annual Taxes
$17,824
Building Details
Building Size
3,519 SF
Year Built
1905
Stories
3
Listing Agency:
REMAX Andrew Realty Services
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jul 15
Changed: Aug 30
Last Checked: Aug 31 at 1:29PM
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 REMAX Andrew Realty Services
Investment Insights
Based on property information with market context.
This three-family property contains 3,519 square feet and was built in 1905. The unit mix includes two four-bedroom, two-bath residences and one three-bedroom, two-bath residence. Each apartment has separate heating and cooling, central air, hardwood flooring, and an oversized deck. Building improvements include a 2023 roof, renovated bathrooms, refreshed kitchen cabinetry, replacement refrigerators, ranges and microwaves, and recent HVAC work. The basement has also received substantial improvements, while common laundry is equipped for coin or card operation.
The property is located on Glen Rd in Jamaica Plain, near the Green Street station on the MBTA Orange Line. Parks, restaurants, shopping, the Longwood Medical Area, and major commuter routes are identified nearby. R3 zoning supports the property's residential multifamily configuration.
The property is located on Glen Rd in Jamaica Plain, near the Green Street station on the MBTA Orange Line. Parks, restaurants, shopping, the Longwood Medical Area, and major commuter routes are identified nearby. R3 zoning supports the property's residential multifamily configuration.
Key Highlights
- Three‑family building with 3,519 square feet, built in 1905
- Unit mix includes two 4‑bed/2‑bath apartments and one 3‑bed/2‑bath apartment
- 2023 roof and approximately $60,000 in basement improvements
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
$88,923
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
4.81%
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%
$1,778,460
$1.8M
Cap Rate 7%
$1,270,329
$1.3M
Cap Rate 9%
$988,033
$988.0K
Market Conditions
NOI Build-Up for 3,519 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
$133.0K $37.80/SF
− Vacancy
−$6.0K −$1.70/SF
EGI
$127.0K $36.10/SF
− OpEx
−$38.1K −$10.83/SF
NOI
$88.9K $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%
$1,778,460
Cap Rate 7%
$1,270,329
Cap Rate 9%
$988,033
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,923 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,668 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$2.64M
$2.31M – $3.07M
NOI $184,452 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,663
Businesses Nearby
Explore this area
Business Placement
Demographics for 02130, MA
38,284
Population
18,802
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
3.5 sq mi
ZIP Area
10,938
Density / Sq Mi
$130,533
Median Household Income
$73,238
Median Earnings
$2,434
Median Rent
$763,700
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 - R3-zoned residential income property with renovated systems, separate climate control, outdoor decks, and shared laundry facilities.
Where is this triplex located?
The property is located at 39 Glen Rd Boston, MA.
What is the asking price?
The asking price for this property is $1,849,000.
What are key features of this property?
This property features: Three‑family building with 3,519 square feet, built in 1905; Unit mix includes two 4‑bed/2‑bath apartments and one 3‑bed/2‑bath apartment; 2023 roof and approximately $60,000 in basement improvements
