Loft-Style Residential Income
For Sale
$699,999
453 Washington St, Boston, MA 02111
One-bedroom condominium offering an open living area, high ceilings, smart storage, and west-facing natural light.
Property Size841 SF
Price / SF$832.34
Days on Market77
Property Features for 453 Washington St
General Information
Standard status
Active
Size
841 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
Dishwasher
Refrigerator
Washer
Dryer
Central Air
Concrete
Forced Air
1.0 Story
$6,572 Taxes
Public
Built in 1900
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Realty - Boston
(617) 266-4430
Listed By:
Benjamin Aiken
Source:
Donahuere
Added: Jun 9
Changed: Aug 19
Last Checked: Aug 23 at 2:23AM
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 Coldwell Banker Realty - Boston
Investment Insights
Based on property information with market context.
This 841-square-foot condominium combines a loft-inspired layout with one bedroom and one full bathroom. The interior centers on an open kitchen and living area, while west-facing windows bring natural light into the space. High ceilings, contemporary finishes, and integrated storage support a clean, efficient interior arrangement. A walk-in closet and full bathroom add practical functionality, and the residence includes an entertainer-friendly configuration. The property was built in 1900.
Located at 453 Washington St in Boston, the condominium places shops, dining, and transit within close reach. Its setting is associated with the Dexter-Ditson building context, supporting an urban residential profile.
Located at 453 Washington St in Boston, the condominium places shops, dining, and transit within close reach. Its setting is associated with the Dexter-Ditson building context, supporting an urban residential profile.
Key Highlights
- 841 SF condominium with one bedroom and one full bathroom
- Loft‑style interior with open kitchen and living area
- West‑facing windows provide 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
$19,757
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
2.82%
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%
$395,140
$395.1K
Cap Rate 7%
$282,243
$282.2K
Cap Rate 9%
$219,522
$219.5K
Market Conditions
NOI Build-Up for 841 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
$37.3K $44.40/SF
− Vacancy
−$1.4K −$1.69/SF
EGI
$35.9K $42.71/SF
− OpEx
−$16.2K −$19.22/SF
NOI
$19.8K $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%
$395,140
Cap Rate 7%
$282,243
Cap Rate 9%
$219,522
Alternative Uses
Best Use
Apartment 5plus
$282.2K
$247.0K – $329.3K
NOI $19,757 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$629.7K
$551.0K – $734.7K
NOI $44,082 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
30,824
Businesses Nearby
Explore this area
Business Placement
Demographics for 02111, MA
9,716
Population
4,535
Households
2.1
Avg Household Size
34
Median Age
57%
College-Educated
83%
High-School Grad
0.2 sq mi
ZIP Area
48,580
Density / Sq Mi
$70,865
Median Household Income
$42,225
Median Earnings
$1,994
Median Rent
$953,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium offering an open living area, high ceilings, smart storage, and west-facing natural light.
Where is this residential income property located?
The property is located at 453 Washington St Boston, MA.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 841 SF condominium with one bedroom and one full bathroom; Loft‑style interior with open kitchen and living area; West‑facing windows provide natural light
