Renovated Triplex Rental
For Sale
$1,499,000
5 Ellery, Boston, MA 02127
Residential Income, Boston, MA
Property Size2,823 SF
Lot Size0.04 Acres
Price / SF$530
Days on Market12
Property Features for 5 Ellery
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 8, Bedroom 1, Bedroom 5, Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 3
Directions
Google Maps
Subdivision
South Boston
Standard status
Active
APN
1414646
Size
2,823 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
18105
Building Details
Year built
1905
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Realty Plus · RE/MAX International
Listed By:
James Fitzgerald
(617) 268-5100
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 27 at 12:06PM
MLS# 73578536
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated triplex is configured as a three-decker residential income property with 2,823 square feet of building area. The 1905 structure includes eight bedrooms and three bathrooms, supporting a multi-unit rental format on a 0.0365-acre parcel.
The property is located in Boston and benefits from access to the Red Line. Interstate 93 North and South and the Massachusetts Turnpike are approximately 2 minutes away. The surrounding location records a Transit Score of 100/100 and a Walk Score of 90/100, providing measurable access to transit and pedestrian amenities.
The property is located in Boston and benefits from access to the Red Line. Interstate 93 North and South and the Massachusetts Turnpike are approximately 2 minutes away. The surrounding location records a Transit Score of 100/100 and a Walk Score of 90/100, providing measurable access to transit and pedestrian amenities.
Key Highlights
- Renovated triplex with three‑decker configuration
- 2,823 square feet on a 0.0365‑acre lot
- Eight bedrooms and three bathrooms
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential building with renovated interiors and direct access to Boston’s Red Line transit service.
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 triplex with three‑decker configuration; 2,823 square feet on a 0.0365‑acre lot; Eight bedrooms and three bathrooms
