Fully Renovated Two-Family
For Sale
$1,499,900
49 Jamaica St, Boston, MA 02130
Turnkey 2-family with modern kitchens, in-unit laundry, central air HVAC, and multiple renovated baths across both units.
Property Size2,168 SF
Days on Market59
Property Features for 49 Jamaica St
General Information
Standard status
Active
Size
2,168 SF
Property subtype
2 Family - 2 Units Up/Down
Taxes and HOA fees
Annual Taxes
$12,782
Building Details
Building Size
2,168 SF
Year Built
1880
Listing Agency:
Griffin Realty Group
Listed By:
Danny Griffin · License #9053633
(774) 836-6172
Source:
Hillarybirchgroup
Added: Jul 10
Changed: Sep 4
Last Checked: Sep 5 at 8:26AM
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 Griffin Realty Group
Investment Insights
Based on property information with market context.
This fully renovated, move-in-ready two-family residence is configured with two finished units, each featuring updated, modern kitchens with quartz counters and stainless steel appliances. Unit 1 offers three bedrooms and a stylish bath. Unit 2 includes three bedrooms and two sleek baths, plus a spacious third-floor primary suite with an en-suite bath and laundry.
The property includes in-unit laundry for both units, newly updated plumbing, new electrical, high-efficiency HVAC with central air, and newer windows. Interior upgrades also include new oak hardwood floors.
Outside, the home features a spacious backyard with new landscaping, a patio, and fencing. The property is described as being less than a 10-minute walk to Centre Street cafes, parks, the T, and the Arnold Arboretum, supporting convenient access to neighborhood amenities.
The property includes in-unit laundry for both units, newly updated plumbing, new electrical, high-efficiency HVAC with central air, and newer windows. Interior upgrades also include new oak hardwood floors.
Outside, the home features a spacious backyard with new landscaping, a patio, and fencing. The property is described as being less than a 10-minute walk to Centre Street cafes, parks, the T, and the Arnold Arboretum, supporting convenient access to neighborhood amenities.
Key Highlights
- Fully renovated move‑in‑ready 2‑family built in 1880 with modern finishes throughout
- Unit 1: 3 bedrooms with stylish bath; includes a modern kitchen with quartz counters and stainless steel appliances
- Unit 2: 3 bedrooms and 2 baths, plus a spacious third‑floor primary suite with en‑suite bath and laundry
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
$54,784
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
3.65%
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%
$1,095,680
$1.1M
Cap Rate 7%
$782,629
$782.6K
Cap Rate 9%
$608,711
$608.7K
Market Conditions
NOI Build-Up for 2,168 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
$82.0K $37.80/SF
− Vacancy
−$3.7K −$1.70/SF
EGI
$78.3K $36.10/SF
− OpEx
−$23.5K −$10.83/SF
NOI
$54.8K $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%
$1,095,680
Cap Rate 7%
$782,629
Cap Rate 9%
$608,711
Alternative Uses
Best Use
Multifamily LT 5
$782.6K
$684.8K – $913.1K
NOI $54,784 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$727.6K
$636.6K – $848.9K
NOI $50,931 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,638 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,470
Businesses Nearby
Explore this area
Business Placement
Demographics for 02130, MA
38,284
Population
18,802
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
3.5 sq mi
ZIP Area
10,938
Density / Sq Mi
$130,533
Median Household Income
$73,238
Median Earnings
$2,434
Median Rent
$763,700
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 - Turnkey 2-family with modern kitchens, in-unit laundry, central air HVAC, and multiple renovated baths across both units.
Where is this duplex located?
The property is located at 49 Jamaica St Boston, MA.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Fully renovated move‑in‑ready 2‑family built in 1880 with modern finishes throughout; Unit 1: 3 bedrooms with stylish bath; includes a modern kitchen with quartz counters and stainless steel appliances; Unit 2: 3 bedrooms and 2 baths, plus a spacious third‑floor primary suite with en‑suite bath and laundry
