Triplex with Updated
New
For Sale
$1,249,900
569 Norfolk St, Boston, MA 02126
Residential Income, Boston, MA
Property Size4,293 SF
Lot Size0.09 Acres
Price / SF$291.15
Days on Market2
Property Features for 569 Norfolk St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
12
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 5, Bedroom 9, Bathroom 2, Bedroom 12, Bathroom 1, Bedroom 1, Bedroom 10, Bedroom 8, Bedroom 11, Bathroom 3, Bedroom 7, Bedroom 2, Bedroom 4, Bedroom 6
Fireplace
1
Directions
Blue Hills Ave to Norfolk
Standard status
Active
APN
W:18 P:00892 S:000,1359338
Size
4,293 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9924
Building Details
Year built
1905
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams Realty Boston Northwest
(617) 497-8900
Listed By:
Christina Hill
(978) 369-5775
Added: Sep 2
Last Checked: Sep 3 at 12:06AM
MLS# 73571388
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 three-unit residential property contains 4,293 SF on a 0.0895-acre lot and dates to 1905. Two apartments are vacant and include updated kitchens, while the third unit is occupied under an existing rental arrangement. A fireplace is also included in the property’s interior features.
The building is zoned R3 and sits at 569 Norfolk St in Boston’s 02126 ZIP code. Boilers and water heaters were installed in 2023, providing recent updates to key building systems. The three-unit layout supports an owner-occupant arrangement, continued rental use, or housing for extended family, as described by the existing unit configuration.
The building is zoned R3 and sits at 569 Norfolk St in Boston’s 02126 ZIP code. Boilers and water heaters were installed in 2023, providing recent updates to key building systems. The three-unit layout supports an owner-occupant arrangement, continued rental use, or housing for extended family, as described by the existing unit configuration.
Key Highlights
- Three‑unit property with 4,293 SF of building area
- Units 1 and 2 are vacant with updated kitchens
- Unit 3 is currently rented
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
$108,481
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
8.68%
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%
$2,169,620
$2.2M
Cap Rate 7%
$1,549,729
$1.5M
Cap Rate 9%
$1,205,344
$1.2M
Market Conditions
NOI Build-Up for 4,293 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
$162.3K $37.80/SF
− Vacancy
−$7.3K −$1.70/SF
EGI
$155.0K $36.10/SF
− OpEx
−$46.5K −$10.83/SF
NOI
$108.5K $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%
$2,169,620
Cap Rate 7%
$1,549,729
Cap Rate 9%
$1,205,344
Alternative Uses
Best Use
Multifamily LT 5
$1.55M
$1.36M – $1.81M
NOI $108,481 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,851 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$3.21M
$2.81M – $3.75M
NOI $225,022 @ 7.0% cap · market cap 18.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
791
Businesses Nearby
Explore this area
Business Placement
Demographics for 02126, MA
22,734
Population
9,617
Households
2.4
Avg Household Size
38
Median Age
24%
College-Educated
87%
High-School Grad
1.8 sq mi
ZIP Area
12,630
Density / Sq Mi
$67,206
Median Household Income
$42,397
Median Earnings
$1,659
Median Rent
$515,000
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?
Triplex - Two apartments are vacant, while the third is leased and producing rental income.
Where is this triplex located?
The property is located at 569 Norfolk St Boston, MA.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: Three‑unit property with 4,293 SF of building area; Units 1 and 2 are vacant with updated kitchens; Unit 3 is currently rented
