Renovated Two-Family
New
For Sale
$1,199,000
41-43 Elmdale St, Boston, MA 02122
Two updated units offer separate utilities, laundry hookups, and central heat and AC.
Property Size2,574 SF
Days on Market2
Property Features for 41-43 Elmdale St
General Information
Standard status
Active
Size
2,574 SF
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$4,337
Building Details
Building Size
2,574 SF
Year Built
1900
Listing Agency:
Choose Boston, LLC
(617) 388-9336
Listed By:
Alan Nguyen
Source:
Classifiedrealtygroup
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 7:09AM
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 Choose Boston, LLC
Investment Insights
Based on property information with market context.
Built in 1900, this renovated duplex contains two distinct residences with updated kitchens, bathrooms, and appliances. Each unit has separate utilities, laundry hookups, central heat and AC, and access to basement storage. The property will be delivered fully vacant.
Unit 1 includes 3 bedrooms and 1.5 bathrooms, along with direct access to a yard featuring mature trees and a hardscaped patio. Unit 2 is a bilevel residence with 4 bedrooms, 1 bathroom, two private decks, and additional unfinished attic space. The property is located on Elmdale Street in Boston’s Neponset area, near neighborhood restaurants, parks, transportation, and major routes.
Unit 1 includes 3 bedrooms and 1.5 bathrooms, along with direct access to a yard featuring mature trees and a hardscaped patio. Unit 2 is a bilevel residence with 4 bedrooms, 1 bathroom, two private decks, and additional unfinished attic space. The property is located on Elmdale Street in Boston’s Neponset area, near neighborhood restaurants, parks, transportation, and major routes.
Key Highlights
- Fully vacant duplex with two separate residential units
- Unit 1: 3 bedrooms, 1.5 bathrooms, yard access, mature trees, and hardscaped patio
- Unit 2: bilevel 4‑bedroom, 1‑bath layout with two private decks
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
$65,043
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
5.42%
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%
$1,300,860
$1.3M
Cap Rate 7%
$929,186
$929.2K
Cap Rate 9%
$722,700
$722.7K
Market Conditions
NOI Build-Up for 2,574 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
$97.3K $37.80/SF
− Vacancy
−$4.4K −$1.70/SF
EGI
$92.9K $36.10/SF
− OpEx
−$27.9K −$10.83/SF
NOI
$65.0K $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%
$1,300,860
Cap Rate 7%
$929,186
Cap Rate 9%
$722,700
Alternative Uses
Best Use
Multifamily LT 5
$929.2K
$813.0K – $1.08M
NOI $65,043 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$863.8K
$755.9K – $1.01M
NOI $60,469 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $134,919 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 02122, MA
24,385
Population
10,039
Households
2.4
Avg Household Size
35
Median Age
38%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
14,344
Density / Sq Mi
$82,945
Median Household Income
$53,897
Median Earnings
$2,052
Median Rent
$656,400
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 updated units offer separate utilities, laundry hookups, and central heat and AC.
Where is this duplex located?
The property is located at 41-43 Elmdale St Boston, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Fully vacant duplex with two separate residential units; Unit 1: 3 bedrooms, 1.5 bathrooms, yard access, mature trees, and hardscaped patio; Unit 2: bilevel 4‑bedroom, 1‑bath layout with two private decks
