Two-Family Victorian
For Sale
$1,249,000
Pending
4 Lombard St, Boston, MA 02124
Two-family Victorian with renovated kitchens and baths, central AC, off-street parking, and a large fenced backyard.
Property Size3,089 SF
Days on Market86
Property Features for 4 Lombard St
General Information
Standard status
Pending
Size
3,089 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Zoning
R2
Taxes and HOA fees
Annual Taxes
$13,134
Building Details
Building Size
3,089 SF
Year Built
1880
Stories
3
Units
2
Listing Agency:
The Galvin Group, LLC
Listed By:
Team Galvin
(617) 436-2000
Source:
Aucoinryanrealty
Added: Jun 12
Changed: Aug 8
Last Checked: Jul 23 at 7:41AM
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 The Galvin Group, LLC
Investment Insights
Based on property information with market context.
This stately Victorian two-family residence offers a blend of original architectural character and modern updates. The property features 10-foot ceilings, hardwood floors, renovated kitchens and bathrooms, spacious bedrooms, and abundant natural light throughout. Central AC is included, along with private outdoor space and a large fenced backyard. Off-street parking is available for up to four cars. A large basement with excellent ceiling height presents potential for an additional dwelling unit.
The home is located on Lombard Street in Dorchester’s Carruth neighborhood, with convenient access to nearby dining, shops, parks, and MBTA service, as well as I-93 north and south.
The layout supports two-family living while offering substantial interior volume in the basement for possible expansion, subject to applicable approvals.
The home is located on Lombard Street in Dorchester’s Carruth neighborhood, with convenient access to nearby dining, shops, parks, and MBTA service, as well as I-93 north and south.
The layout supports two-family living while offering substantial interior volume in the basement for possible expansion, subject to applicable approvals.
Key Highlights
- 1880 stately Victorian two‑family in Dorchester’s Carruth neighborhood
- Over 3,000 sq ft of living space with 10‑foot ceilings and hardwood floors
- Renovated kitchens and baths, plus spacious bedrooms with abundant natural light
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
$78,057
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
6.25%
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%
$1,561,140
$1.6M
Cap Rate 7%
$1,115,100
$1.1M
Cap Rate 9%
$867,300
$867.3K
Market Conditions
NOI Build-Up for 3,089 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
$116.8K $37.80/SF
− Vacancy
−$5.3K −$1.70/SF
EGI
$111.5K $36.10/SF
− OpEx
−$33.5K −$10.83/SF
NOI
$78.1K $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%
$1,561,140
Cap Rate 7%
$1,115,100
Cap Rate 9%
$867,300
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$975.7K – $1.30M
NOI $78,057 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$1.04M
$907.1K – $1.21M
NOI $72,567 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$2.31M
$2.02M – $2.70M
NOI $161,913 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,902
Businesses Nearby
Explore this area
Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
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-family Victorian with renovated kitchens and baths, central AC, off-street parking, and a large fenced backyard.
Where is this duplex located?
The property is located at 4 Lombard St Boston, MA.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: 1880 stately Victorian two‑family in Dorchester’s Carruth neighborhood; Over 3,000 sq ft of living space with 10‑foot ceilings and hardwood floors; Renovated kitchens and baths, plus spacious bedrooms with abundant natural light
