Duplex with Third-Floor
For Sale
$1,325,000
Pending
53 Prince St, Boston, MA 02113
Two residential units feature hardwood floors, original woodwork, enclosed porches, and additional finished living areas.
Property Size2,736 SF
Days on Market226
Property Features for 53 Prince St
General Information
Standard status
Pending
Size
2,736 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$16,761
Amenities
hardwood floors
original woodwork
enclosed back porches
cathedral ceiling
Listing Agency:
Jamaica Hill Realty, Inc.
(617) 283-3120
Listed By:
Jay Goober
(617) 283-3120
Source:
Exprealty
Added: Jan 7
Changed: Aug 21
Last Checked: Aug 21 at 9:49AM
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 Jamaica Hill Realty, Inc.
Investment Insights
Based on property information with market context.
This 2,736-square-foot duplex includes two substantial residential units, each arranged with a foyer, adaptable living areas, hardwood flooring, original woodwork, and an enclosed rear porch. A third-floor suite adds further living space beneath a cathedral ceiling and is equipped with a mini-split system for heat and central air, along with supplemental electric baseboard heat.
The full basement contains a basic full bath and kitchen, plus substantial storage space. The roof and heating systems are described as very old, providing clear conditions for renovation planning. Located at 53 Prince St in Boston, the property is a short distance from JP Center.
The full basement contains a basic full bath and kitchen, plus substantial storage space. The roof and heating systems are described as very old, providing clear conditions for renovation planning. Located at 53 Prince St in Boston, the property is a short distance from JP Center.
Key Highlights
- 2,736‑square‑foot duplex with two residential units
- Third‑floor suite with cathedral ceiling and mini‑split heating and central air
- Hardwood floors and original woodwork 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
$69,137
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
5.22%
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%
$1,382,740
$1.4M
Cap Rate 7%
$987,671
$987.7K
Cap Rate 9%
$768,189
$768.2K
Market Conditions
NOI Build-Up for 2,736 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
$103.4K $37.80/SF
− Vacancy
−$4.7K −$1.70/SF
EGI
$98.8K $36.10/SF
− OpEx
−$29.6K −$10.83/SF
NOI
$69.1K $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%
$1,382,740
Cap Rate 7%
$987,671
Cap Rate 9%
$768,189
Alternative Uses
Best Use
Multifamily LT 5
$987.7K
$864.2K – $1.15M
NOI $69,137 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$918.2K
$803.4K – $1.07M
NOI $64,274 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,410 @ 7.0% cap · market cap 10.82%
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
1,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 02113, MA
7,126
Population
4,664
Households
1.5
Avg Household Size
29
Median Age
80%
College-Educated
98%
High-School Grad
0.1 sq mi
ZIP Area
71,260
Density / Sq Mi
$110,321
Median Household Income
$72,264
Median Earnings
$2,498
Median Rent
$693,900
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 residential units feature hardwood floors, original woodwork, enclosed porches, and additional finished living areas.
Where is this duplex located?
The property is located at 53 Prince St Boston, MA.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 2,736‑square‑foot duplex with two residential units; Third‑floor suite with cathedral ceiling and mini‑split heating and central air; Hardwood floors and original woodwork in both units
