New Six-Unit Condominium
For Sale
$2,995,000
3915 Washington Street, Boston, MA 02130
Newly constructed six-unit building with one-bed, one-bath residences featuring central A.C. and in-unit laundry.
Property Size4,500 SF
Price / SF$665.56
Days on Market40
Property Features for 3915 Washington Street
General Information
Standard status
Active
Size
4,500 SF
Property subtype
5-9 Family
Additional Details
Multifamily Units
6
Building Details
Building Size
4,500 SF
Year Built
2026
Listing Agency:
(617) 892-5888
Listed By:
Steven Musto
(617) 892-5888
Source:
Iverty
Added: Jul 16
Changed: Aug 24
Last Checked: Aug 23 at 8:39AM
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 Steven Musto
Investment Insights
Based on property information with market context.
Introducing a newly constructed six-unit condominium building offering thoughtfully designed one-bedroom, one-bath residences. Each home includes professionally designed finishes such as stylish fixtures, custom cabinetry, white oak flooring, contemporary tile, and an abundance of windows. Residents also benefit from central A.C. and in-unit laundry, along with large personal storage units included with each residence.
The property is located just steps from Forest Hills and close to the vibrant Roslindale Village, providing convenience for commuters.
The building is fully electric, eliminating the use of fossil fuels, and was constructed to meet HERS energy-efficiency guidelines.
The property is located just steps from Forest Hills and close to the vibrant Roslindale Village, providing convenience for commuters.
The building is fully electric, eliminating the use of fossil fuels, and was constructed to meet HERS energy-efficiency guidelines.
Key Highlights
- Newly constructed 6‑unit condominium building built in 2026
- One‑bedroom, one‑bath residences with central A.C. and in‑unit laundry
- Finishes include custom cabinetry, white oak flooring, and contemporary tile finishes
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
$105,714
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
3.53%
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%
$2,114,280
$2.1M
Cap Rate 7%
$1,510,200
$1.5M
Cap Rate 9%
$1,174,600
$1.2M
Market Conditions
NOI Build-Up for 4,500 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
$199.8K $44.40/SF
− Vacancy
−$7.6K −$1.69/SF
EGI
$192.2K $42.71/SF
− OpEx
−$86.5K −$19.22/SF
NOI
$105.7K $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%
$2,114,280
Cap Rate 7%
$1,510,200
Cap Rate 9%
$1,174,600
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.76M
NOI $105,714 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $235,872 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
637
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?
Apartment building - Newly constructed six-unit building with one-bed, one-bath residences featuring central A.C. and in-unit laundry.
Where is this apartment building located?
The property is located at 3915 Washington Street Boston, MA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Newly constructed 6‑unit condominium building built in 2026; One‑bedroom, one‑bath residences with central A.C. and in‑unit laundry; Finishes include custom cabinetry, white oak flooring, and contemporary tile finishes
