Building Details

Building Size 3,613 SF

Year Built 1925

Year Renovated 2016

Stories 3

Listing Agency: Coldwell Banker Realty - Canton Show Phone

Listed By: Cori Daddabbo Show Phone

Source: Churchillprop

Added: Jun 3 Changed: Oct 16 Last Checked: Oct 16 at 6:58AM

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Investment Insights

Based on property information with market context.

Located at 41 Gleason St in Boston, this two-family residence was built in 1925 and gut renovated in 2016. The property contains 3,613 square feet with an open-plan three-bedroom, two-bath first unit and a bi-level five-bedroom, two-bath second unit, totaling eight bedrooms and four baths. Interior features include 9-foot ceilings, ensuite spaces, walk-in closets, marble flooring, designer baths, and kitchens with terrazzo counters, islands, beverage chillers, stainless appliances, a gas stove, and griddle.

Major improvements include 2016 plumbing, electrical, roofing, walls, and decks, along with an upgraded foundation completed in 2023. The property also includes a backyard, updated decks, a separate two-car garage, and a full-size basement with a 7-foot ceiling. The garage is identified as offering potential for an ADU, workshop, or lounge, while the basement provides additional future living-space potential. HVAC systems are identified as 2026 units, and a new washer and dryer are negotiable.

Key Highlights

• Two‑family home with 3,613 square feet, 8 bedrooms, and 4 baths
• 2016 gut renovation plus 2023 upgraded foundation
• Unit 1: 3 bedrooms and 2 full baths; Unit 2: 5 bedrooms and 2 full baths

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$91,298

Cap Rate

7.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,825,960 $1.8M

Cap Rate 7%

$1,304,257 $1.3M

Cap Rate 9%

$1,014,422 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,613 SF

Gross rent

$136.6K $37.80/SF

− Vacancy

−$6.1K −$1.70/SF

EGI

$130.4K $36.10/SF

− OpEx

−$39.1K −$10.83/SF

NOI

$91.3K $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 Rate 5%

$1,825,960

Cap Rate 7%

$1,304,257

Cap Rate 9%

$1,014,422

Alternative Uses

Best Use

Multifamily LT 5

$1.30M

$1.14M – $1.52M (±1% cap)

NOI $91,298 @ 7.0% cap · market cap 7.94%

Second Best

Apartment 5plus

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,877 @ 7.0% cap · market cap 7.38%

Theoretical Best

Office A

$2.71M

$2.37M – $3.16M (±1% cap)

NOI $189,379 @ 7.0% cap · market cap 16.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Skin Care Clinic Restaurant Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,368

Businesses Nearby

Explore this area Business Placement

Demographics for 02121, MA

28,766

Population

11,384

Households

2.5

Avg Household Size

33

Median Age

21%

College-Educated

75%

High-School Grad

1.9 sq mi

ZIP Area

15,140

Density / Sq Mi

$38,565

Median Household Income

$33,700

Median Earnings

$1,316

Median Rent

$548,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Owner-occupant property with separate living units, updated systems, private outdoor areas, and a detached two-car garage.

Where is this duplex located?

The property is located at 41 Gleason St Boston, MA.

What is the asking price?

The asking price for this property is $1,149,999.

What are key features of this property?

This property features: Two‑family home with 3,613 square feet, 8 bedrooms, and 4 baths; 2016 gut renovation plus 2023 upgraded foundation; Unit 1: 3 bedrooms and 2 full baths; Unit 2: 5 bedrooms and 2 full baths