Licensed Two-Unit Short-Term
For Sale
$859,900
589 Saratoga St, Boston, MA 02128
Two updated residences include separate electrical utilities and access to a partially finished basement.
Property Size2,025 SF
Price / SF$424.64
Days on Market50
Property Features for 589 Saratoga St
General Information
Standard status
Active
Size
2,025 SF
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$97,992
Taxes and HOA fees
Annual Taxes
$7,866
Building Details
Building Size
2,025 SF
Year Built
1910
Stories
2
Listing Agency:
RE/MAX 360
(978) 535-3122
Listed By:
Zambrano Properties & Associates
(781) 521-3491
Source:
Churchillprop
Added: Aug 28
Changed: Oct 10
Last Checked: Oct 16 at 5:59AM
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 360
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Investment Insights
Based on property information with market context.
This licensed short-term rental property contains two units with updated interiors, including granite countertops, stainless steel appliances, modern finishes, and 2025 mini-split system upgrades. The exterior uses HardiePlank siding, while gas heating and gas hot water serve the property. Separate electrical utilities add operational distinction between the units. A partially finished basement provides additional space for office, fitness, or storage use.
The property was built in 1910 and is zoned R2. It is located approximately < 2 miles from Logan International Airport, with access to public transportation at Orient Heights and Suffolk Downs. Restaurants, shopping, and major commuter routes including RT 1A and I-93 are also identified nearby. The property has an estimated 9.97% cap rate based on actual 2024 Airbnb income and estimated operating expenses.
The property was built in 1910 and is zoned R2. It is located approximately < 2 miles from Logan International Airport, with access to public transportation at Orient Heights and Suffolk Downs. Restaurants, shopping, and major commuter routes including RT 1A and I-93 are also identified nearby. The property has an estimated 9.97% cap rate based on actual 2024 Airbnb income and estimated operating expenses.
Key Highlights
- Licensed short‑term rental operating as an Airbnb property
- Two units with granite countertops, stainless steel appliances, and modern finishes
- 2025 mini‑split system upgrades
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,170
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,023,400
$1.0M
Cap Rate 7%
$731,000
$731.0K
Cap Rate 9%
$568,556
$568.6K
Market Conditions
NOI Build-Up for 2,025 SF
Gross rent
$76.5K $37.80/SF
− Vacancy
−$3.4K −$1.70/SF
EGI
$73.1K $36.10/SF
− OpEx
−$21.9K −$10.83/SF
NOI
$51.2K $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 Rate 5%
$1,023,400
Cap Rate 7%
$731,000
Cap Rate 9%
$568,556
Alternative Uses
Best Use
Multifamily LT 5
$731.0K
$639.6K – $852.8K
NOI $51,170 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$679.6K
$594.6K – $792.9K
NOI $47,571 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,142 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
Explore this area
Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Short term rental property - Two updated residences include separate electrical utilities and access to a partially finished basement.
Where is this short term rental property located?
The property is located at 589 Saratoga St Boston, MA.
What is the asking price?
The asking price for this property is $859,900.
What are key features of this property?
This property features: Licensed short‑term rental operating as an Airbnb property; Two units with granite countertops, stainless steel appliances, and modern finishes; 2025 mini‑split system upgrades
