Updated Two-Unit
For Sale
$1,170,000
48 Farquhar Street, Boston, MA 02131
Renovated kitchens and baths accompany private outdoor areas and in-unit laundry.
Property Size2,548 SF
Price / SF$459.18
Days on Market98
Property Features for 48 Farquhar Street
General Information
Standard status
Active
Size
2,548 SF
Property subtype
Multi-family
Units
Unit Mix
2BR/1BA, 3BR/1BA
Multifamily Units
2
Amenities
private decks
spacious back yard
off-street parking
in-unit laundry
Building Details
Year Built
1910
Listing Agency:
Douglas Elliman Real Estate - Park Plaza
Listed By:
Stephanie Peter
(617) 750-6378
Source:
Benoitrealestate
Added: May 28
Changed: Aug 31
Last Checked: Aug 31 at 8:17PM
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 Douglas Elliman Real Estate - Park Plaza
Investment Insights
Based on property information with market context.
This two-unit duplex was built in 1910 and has undergone extensive remodeling, including refreshed kitchens and bathrooms, new mini-split heating and cooling systems, in-unit laundry, and substantial exterior work. The first-floor residence contains 2 bedrooms, 1 full bathroom, and a sunroom that can serve as office or play space. Upstairs, the 3-bedroom, 1-bathroom unit also includes a sunroom and access to attic expansion potential. Private decks, a spacious backyard, and off-street parking add to the property’s functional layout.
Located at 48 Farquhar Street in Boston’s Roslindale neighborhood, the duplex is near the Arnold Arboretum and Roslindale Village. The property combines two distinct living spaces with updated systems and separate outdoor areas.
Located at 48 Farquhar Street in Boston’s Roslindale neighborhood, the duplex is near the Arnold Arboretum and Roslindale Village. The property combines two distinct living spaces with updated systems and separate outdoor areas.
Key Highlights
- Two‑unit duplex at 48 Farquhar Street in Boston’s Roslindale neighborhood
- 2,548 property size; built in 1910
- First‑floor unit with 2 bedrooms, 1 full bathroom, and sunroom
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
$64,386
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
5.50%
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%
$1,287,720
$1.3M
Cap Rate 7%
$919,800
$919.8K
Cap Rate 9%
$715,400
$715.4K
Market Conditions
NOI Build-Up for 2,548 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
$96.3K $37.80/SF
− Vacancy
−$4.3K −$1.70/SF
EGI
$92.0K $36.10/SF
− OpEx
−$27.6K −$10.83/SF
NOI
$64.4K $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%
$1,287,720
Cap Rate 7%
$919,800
Cap Rate 9%
$715,400
Alternative Uses
Best Use
Multifamily LT 5
$919.8K
$804.8K – $1.07M
NOI $64,386 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$855.1K
$748.2K – $997.6K
NOI $59,858 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,556 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,099
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?
Duplex - Renovated kitchens and baths accompany private outdoor areas and in-unit laundry.
Where is this duplex located?
The property is located at 48 Farquhar Street Boston, MA.
What is the asking price?
The asking price for this property is $1,170,000.
What are key features of this property?
This property features: Two‑unit duplex at 48 Farquhar Street in Boston’s Roslindale neighborhood; 2,548 property size; built in 1910; First‑floor unit with 2 bedrooms, 1 full bathroom, and sunroom
