Three-Family Dwelling in
For Sale
$900,000
Pending
65 Ridgewood St, Boston, MA 02122
Three-family dwelling needing updates in Meeting House Hill area.
Property Size2,919 SF
Days on Market158
Property Features for 65 Ridgewood St
General Information
Standard status
Pending
Size
2,919 SF
Property subtype
3 Family
Building Details
Year Built
1905
Listing Agency:
Jeff McDowell Realty LLC
(877) 827-5533
Listed By:
Jeffrey McDowell · License #455501123
(617) 438-2480
Source:
Lockandkeyre
Added: Apr 9
Changed: Sep 12
Last Checked: Sep 13 at 10:16AM
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 Jeff McDowell Realty LLC
Investment Insights
Based on property information with market context.
This three-family dwelling is located in the Meeting House Hill and Field Corner area and requires updates to kitchens, bathrooms, plumbing, and walls. The property is situated near schools, including UP Academy Charter School of Dorchester and Helen Y. Davis Leadership Academy Charter Public School. This is an estate sale, and the final sale is subject to Probate Court approval. The property, with a size of 2919 square feet, is being sold in As Is condition.
Key Highlights
- Three‑family dwelling offers income potential or multi‑generational living.
- Located in the Meeting House Hill and Field Corner area.
- Proximity to schools, including UP Academy Charter School of Dorchester and Helen Y. Davis Leadership Academy Charter Public School.
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
$73,761
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
8.20%
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%
$1,475,220
$1.5M
Cap Rate 7%
$1,053,729
$1.1M
Cap Rate 9%
$819,567
$819.6K
Market Conditions
NOI Build-Up for 2,919 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
$110.3K $37.80/SF
− Vacancy
−$5.0K −$1.70/SF
EGI
$105.4K $36.10/SF
− OpEx
−$31.6K −$10.83/SF
NOI
$73.8K $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%
$1,475,220
Cap Rate 7%
$1,053,729
Cap Rate 9%
$819,567
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$922.0K – $1.23M
NOI $73,761 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$979.6K
$857.2K – $1.14M
NOI $68,573 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $153,002 @ 7.0% cap · market cap 17.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,860
Businesses Nearby
Explore this area
Business Placement
Demographics for 02122, MA
24,385
Population
10,039
Households
2.4
Avg Household Size
35
Median Age
38%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
14,344
Density / Sq Mi
$82,945
Median Household Income
$53,897
Median Earnings
$2,052
Median Rent
$656,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family dwelling needing updates in Meeting House Hill area.
Where is this triplex located?
The property is located at 65 Ridgewood St Boston, MA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Three‑family dwelling offers income potential or multi‑generational living.; Located in the Meeting House Hill and Field Corner area.; Proximity to schools, including UP Academy Charter School of Dorchester and Helen Y. Davis Leadership Academy Charter Public School.
