Renovated Duplex with Central
For Sale
$1,499,000
590 Gallivan Blvd, Boston, MA 02124
R2-zoned two-family property with gas heat and on-demand hot water systems.
Property Size4,094 SF
Price / SF$366.15
Days on Market76
Property Features for 590 Gallivan Blvd
General Information
Standard status
Active
Size
4,094 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$154,800
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,364
Amenities
central air conditioning
gas heat
on-demand hot water heaters
Building Details
Building Size
4,094 SF
Year Built
1928
Year Renovated
2021
Stories
4
Listing Agency:
www.HomeZu.com
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 19
Changed: Sep 2
Last Checked: Sep 1 at 4:23PM
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 www.HomeZu.com
Investment Insights
Based on property information with market context.
This two-unit duplex contains 4,094 square feet and was built in 1928 before undergoing renovation in 2021. Both residences include central air conditioning, gas heat, and on-demand hot water heaters, providing updated core systems across the property. The source information describes the units as having roommate-friendly layouts, while conflicting bathroom details have been omitted.
The property is located at 590 Gallivan Blvd in Boston, near Adams Village and neighborhood restaurants, retail, and Crunch Fitness. MBTA bus service is nearby, Ashmont Red Line Station is within walking distance, and Route 93 is accessible by car. The property is zoned R2 and is offered as a two-family residential asset.
The property is located at 590 Gallivan Blvd in Boston, near Adams Village and neighborhood restaurants, retail, and Crunch Fitness. MBTA bus service is nearby, Ashmont Red Line Station is within walking distance, and Route 93 is accessible by car. The property is zoned R2 and is offered as a two-family residential asset.
Key Highlights
- 4,094‑square‑foot duplex with two residential units
- Renovated in 2021; originally built in 1928
- Central air conditioning 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
$103,453
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
6.90%
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%
$2,069,060
$2.1M
Cap Rate 7%
$1,477,900
$1.5M
Cap Rate 9%
$1,149,478
$1.1M
Market Conditions
NOI Build-Up for 4,094 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
$154.8K $37.80/SF
− Vacancy
−$7.0K −$1.70/SF
EGI
$147.8K $36.10/SF
− OpEx
−$44.3K −$10.83/SF
NOI
$103.5K $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%
$2,069,060
Cap Rate 7%
$1,477,900
Cap Rate 9%
$1,149,478
Alternative Uses
Best Use
Multifamily LT 5
$1.48M
$1.29M – $1.72M
NOI $103,453 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $96,176 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$3.07M
$2.68M – $3.58M
NOI $214,591 @ 7.0% cap · market cap 14.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
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 - R2-zoned two-family property with gas heat and on-demand hot water systems.
Where is this duplex located?
The property is located at 590 Gallivan Blvd 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: 4,094‑square‑foot duplex with two residential units; Renovated in 2021; originally built in 1928; Central air conditioning in both units
