Duplex with Private
For Sale
$1,549,900
48 Nonantum Street, Boston, MA 02135
Two units offer separate utilities, updated mechanical systems, and private outdoor areas for residents.
Property Size2,873 SF
Price / SF$539.47
Days on Market154
Property Features for 48 Nonantum Street
General Information
Standard status
Active
Size
2,873 SF
Total Parking Spaces
2
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
R-2
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,999
Amenities
private backyard
paver patio
Trex deck
private driveway
gas cooking
No
Tile
Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer, Freezer, Washer/Dryer
3.0
Screens
Living Room, Kitchen, Family Room, Laundry Room, Mudroom
3
3.00
Fenced
Shingle
Rain Gutters, Fenced Yard, Screens, Porch, Deck - Vinyl
Porch, Deck - Vinyl
Building Details
Year Built
1955
Listing Agency:
Parsons Commercial Group, Inc.
(508) 820-2700
Listed By:
Kyle Parsons · License #9588294
(508) 820-2700
Source:
Compass
Added: Mar 30
Changed: Aug 29
Last Checked: Aug 29 at 6:56PM
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 Parsons Commercial Group, Inc.
Investment Insights
Based on property information with market context.
This R-2-zoned duplex, built in 1955, contains 2,873 square feet arranged across two units with 7 bedrooms and 3 bathrooms. The property includes updated mechanical systems, modern finishes, gas cooking in each unit, and separate utilities. Interior amenities include kitchens with ranges, dishwashers, disposals, microwaves, and refrigerators, along with laundry equipment. A private driveway provides off-street parking, while the fenced rear yard includes a paver patio and Trex deck. Additional exterior features include a porch, vinyl deck, screens, and rain gutters.
Located at 48 Nonantum Street in Boston, the property is near Oak Square, public transportation, and local parks. Boston College is also a short distance away. The layout may support continued multifamily use, owner occupancy, or condo conversion as described in the property information.
Located at 48 Nonantum Street in Boston, the property is near Oak Square, public transportation, and local parks. Boston College is also a short distance away. The layout may support continued multifamily use, owner occupancy, or condo conversion as described in the property information.
Key Highlights
- 2,873 square feet across two units with 7 bedrooms and 3 bathrooms
- R‑2 zoning and 1955 construction
- Separate utilities and gas cooking in both units
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
$72,599
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
4.68%
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%
$1,451,980
$1.5M
Cap Rate 7%
$1,037,129
$1.0M
Cap Rate 9%
$806,656
$806.7K
Market Conditions
NOI Build-Up for 2,873 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
$108.6K $37.80/SF
− Vacancy
−$4.9K −$1.70/SF
EGI
$103.7K $36.10/SF
− OpEx
−$31.1K −$10.83/SF
NOI
$72.6K $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%
$1,451,980
Cap Rate 7%
$1,037,129
Cap Rate 9%
$806,656
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$907.5K – $1.21M
NOI $72,599 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$964.2K
$843.7K – $1.12M
NOI $67,493 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,591 @ 7.0% cap · market cap 9.72%
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
673
Businesses Nearby
Explore this area
Business Placement
Demographics for 02135, MA
47,232
Population
22,519
Households
2.1
Avg Household Size
29
Median Age
71%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
18,166
Density / Sq Mi
$88,208
Median Household Income
$57,124
Median Earnings
$2,179
Median Rent
$684,000
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 units offer separate utilities, updated mechanical systems, and private outdoor areas for residents.
Where is this duplex located?
The property is located at 48 Nonantum Street Boston, MA.
What is the asking price?
The asking price for this property is $1,549,900.
What are key features of this property?
This property features: 2,873 square feet across two units with 7 bedrooms and 3 bathrooms; R‑2 zoning and 1955 construction; Separate utilities and gas cooking in both units
