Triplex with Hardwood
For Sale
$1,189,000
428-430 Hyde Park Avenue, Boston, MA 02131
Well-maintained three-unit building with hardwood floors, spacious layouts, and recent cosmetic updates.
Property Size4,261 SF
Days on Market80
Property Features for 428-430 Hyde Park Avenue
General Information
Standard status
Active
Size
4,261 SF
Property subtype
3 Family - 3 Units Up/Down
Taxes and HOA fees
Annual Taxes
$99
Building Details
Building Size
4,261 SF
Year Built
1910
Tenancy
Multi
Listing Agency:
Boston Realty Advisors
(617) 375-7900
Listed By:
Kevin Benzinger · License #9526383
Source:
Madelyngarciarealestate
Added: Jun 3
Changed: Aug 10
Last Checked: Aug 20 at 11:37AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
This well-maintained triplex includes two four-bedroom, one-bath units and one three-bedroom, one-bath unit. The apartments feature hardwood floors and spacious living areas designed to bring in light and air. Recent cosmetic improvements have been made, with additional cosmetic upgrades and operational efficiency improvements identified as potential areas to further enhance the property.
Built in 1910, the building is located on Hyde Park Avenue in the Roslindale neighborhood of Boston. The area offers a variety of amenities and provides immediate access to transit.
The unit mix supports a flexible residential income profile, with a combination of larger four-bedroom homes and a three-bedroom option within the same three-unit asset.
Built in 1910, the building is located on Hyde Park Avenue in the Roslindale neighborhood of Boston. The area offers a variety of amenities and provides immediate access to transit.
The unit mix supports a flexible residential income profile, with a combination of larger four-bedroom homes and a three-bedroom option within the same three-unit asset.
Key Highlights
- Triplex with two four‑bedroom, one‑bath units and one three‑bedroom, one‑bath unit
- Hardwood floors throughout the apartments
- Recent cosmetic improvements completed
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
$107,672
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
9.06%
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%
$2,153,440
$2.2M
Cap Rate 7%
$1,538,171
$1.5M
Cap Rate 9%
$1,196,356
$1.2M
Market Conditions
NOI Build-Up for 4,261 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
$161.1K $37.80/SF
− Vacancy
−$7.2K −$1.70/SF
EGI
$153.8K $36.10/SF
− OpEx
−$46.1K −$10.83/SF
NOI
$107.7K $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%
$2,153,440
Cap Rate 7%
$1,538,171
Cap Rate 9%
$1,196,356
Alternative Uses
Best Use
Multifamily LT 5
$1.54M
$1.35M – $1.79M
NOI $107,672 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,100 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$3.19M
$2.79M – $3.72M
NOI $223,345 @ 7.0% cap · market cap 18.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,109
Businesses Nearby
Explore this area
Business Placement
Demographics for 02131, MA
30,544
Population
13,264
Households
2.3
Avg Household Size
39
Median Age
52%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
10,909
Density / Sq Mi
$109,237
Median Household Income
$65,268
Median Earnings
$1,999
Median Rent
$634,200
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?
Triplex - Well-maintained three-unit building with hardwood floors, spacious layouts, and recent cosmetic updates.
Where is this triplex located?
The property is located at 428-430 Hyde Park Avenue Boston, MA.
What is the asking price?
The asking price for this property is $1,189,000.
What are key features of this property?
This property features: Triplex with two four‑bedroom, one‑bath units and one three‑bedroom, one‑bath unit; Hardwood floors throughout the apartments; Recent cosmetic improvements completed
