Brick Triplex with Unfinished
For Sale
$1,500,000
71 Homestead Street, Boston, MA 02121
Three-unit residential income property with hardwood interiors, household appliances, and an unfinished basement.
Property Size4,659 SF
Lot Size0.09 Acres
Price / SF$321.96
Days on Market296
Property Features for 71 Homestead Street
General Information
Standard status
Active
Size
4,659 SF
Lot size
0.09 Acres
Property subtype
Multi-family / 3 Family
Zoning
R3
Net Operating Income
$38,400
Taxes and HOA fees
Annual Taxes
$7,775
Amenities
No, Yes, .00
No
Hardwood, Wood
Disposal, Microwave, Refrigerator, Oven, Range
3.0
Unfinished Basement
Bathroom With Tub & Shower, Pantry, Living Room, Kitchen, Office/Den
3
3.00
Brick
Rubber
Other
Building Details
Year Built
1890
Construction
brick
Listing Agency:
Fine Living Realty
Listed By:
Becky Hobbs · License #9051952
(617) 442-1017
Source:
Compass
Added: Nov 12, 2025
Changed: Sep 2
Last Checked: Aug 30 at 6:31PM
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 Fine Living Realty
Investment Insights
Based on property information with market context.
This triplex is a brick residential income property built in 1890, with approximately 4,659 square feet of property size. Interior features include hardwood and wood finishes, living room and kitchen areas, an office or den, pantry space, and bathrooms with tub and shower combinations. The property also includes an unfinished basement and household appliances, including a disposal, microwave, refrigerator, oven, and range. Exterior materials include brick and rubber. R3 zoning is identified for the property, supporting its classification as a residential multifamily asset.
Key Highlights
- Triplex classification with 4,659 square feet of property size
- Built in 1890
- Brick exterior
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
$117,730
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
7.85%
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%
$2,354,600
$2.4M
Cap Rate 7%
$1,681,857
$1.7M
Cap Rate 9%
$1,308,111
$1.3M
Market Conditions
NOI Build-Up for 4,659 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
$176.1K $37.80/SF
− Vacancy
−$7.9K −$1.70/SF
EGI
$168.2K $36.10/SF
− OpEx
−$50.5K −$10.83/SF
NOI
$117.7K $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%
$2,354,600
Cap Rate 7%
$1,681,857
Cap Rate 9%
$1,308,111
Alternative Uses
Best Use
Multifamily LT 5
$1.68M
$1.47M – $1.96M
NOI $117,730 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$1.56M
$1.37M – $1.82M
NOI $109,449 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,206 @ 7.0% cap · market cap 16.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,436
Businesses Nearby
Explore this area
Business Placement
Demographics for 02121, MA
28,766
Population
11,384
Households
2.5
Avg Household Size
33
Median Age
21%
College-Educated
75%
High-School Grad
1.9 sq mi
ZIP Area
15,140
Density / Sq Mi
$38,565
Median Household Income
$33,700
Median Earnings
$1,316
Median Rent
$548,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential income property with hardwood interiors, household appliances, and an unfinished basement.
Where is this triplex located?
The property is located at 71 Homestead Street Boston, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Triplex classification with 4,659 square feet of property size; Built in 1890; Brick exterior
