Renovated Transit-Oriented
For Sale
$1,499,000
5 Ellery, Boston, MA 02127
Income-producing rental property with Red Line access and a renovated interior.
Property Size2,823 SF
Price / SF$530
Days on Market18
Property Features for 5 Ellery
General Information
Standard status
Active
Size
2,823 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Year Built
1905
Listing Agency:
RE/MAX Realty Plus
Listed By:
Jim Fitzgerald
(617) 694-0004
Source:
Somervillelofts
Added: Sep 10
Changed: Sep 26
Last Checked: Sep 26 at 8:23AM
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 RE/MAX Realty Plus
Investment Insights
Based on property information with market context.
This renovated triplex in South Boston provides an income-producing residential rental configuration within a 2,823-square-foot property. Built in 1905, the asset combines historic building stock with updated interior improvements and a three-unit layout.
The property is located at 5 Ellery in Boston, with access to the Red Line train. Transit Score is 100/100, while Walk Score is 90/100. Interstate 93 North/South and the Massachusetts Turnpike are approximately two minutes away, connecting the property with broader Boston-area transportation routes. Its setting also places it within the South Boston rental market and near the Dorchester Avenue corridor.
The property is located at 5 Ellery in Boston, with access to the Red Line train. Transit Score is 100/100, while Walk Score is 90/100. Interstate 93 North/South and the Massachusetts Turnpike are approximately two minutes away, connecting the property with broader Boston-area transportation routes. Its setting also places it within the South Boston rental market and near the Dorchester Avenue corridor.
Key Highlights
- Renovated three‑unit triplex
- 2,823 square feet
- Built in 1905
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
$71,335
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
4.76%
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%
$1,426,700
$1.4M
Cap Rate 7%
$1,019,071
$1.0M
Cap Rate 9%
$792,611
$792.6K
Market Conditions
NOI Build-Up for 2,823 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
$106.7K $37.80/SF
− Vacancy
−$4.8K −$1.70/SF
EGI
$101.9K $36.10/SF
− OpEx
−$30.6K −$10.83/SF
NOI
$71.3K $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%
$1,426,700
Cap Rate 7%
$1,019,071
Cap Rate 9%
$792,611
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$891.7K – $1.19M
NOI $71,335 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$947.4K
$829.0K – $1.11M
NOI $66,318 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $147,970 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,771
Businesses Nearby
Explore this area
Business Placement
Demographics for 02127, MA
37,939
Population
19,495
Households
1.9
Avg Household Size
31
Median Age
69%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
18,066
Density / Sq Mi
$156,373
Median Household Income
$85,444
Median Earnings
$2,435
Median Rent
$858,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Income-producing rental property with Red Line access and a renovated interior.
Where is this triplex located?
The property is located at 5 Ellery Boston, MA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Renovated three‑unit triplex; 2,823 square feet; Built in 1905
