Two-Family Home Near Ashmont
For Sale
$799,000
Pending
72 Bailey St, Boston, MA 02124
Two-family home near Ashmont Hill with hardwood floors.
Property Size2,870 SF
Lot Size0.10 Acres
Days on Market267
Property Features for 72 Bailey St
General Information
Standard status
Pending
Size
2,870 SF
Lot size
0.10 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$8,682
Building Details
Building Size
2,870 SF
Year Built
1900
Stories
3
Units
2
Listing Agency:
LAER Realty Partners
(617) 800-9111
Listed By:
Jonathan Evans
(617) 800-9111
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 7
Last Checked: Aug 21 at 12:45PM
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 LAER Realty Partners
Investment Insights
Based on property information with market context.
This two-family home is located at the foot of Ashmont Hill, with convenient access to the T. The property features hardwood floors, multiple kitchens, and a finished attic. The finished attic offers flexibility and could be used as an office, in-law space, or bonus room. The layout is suitable for investors, owner-occupants, or multi-generational living. Situated near shops, restaurants, and public transit, this multi-family property presents an opportunity for value addition through updates. The sale is subject to final probate approval.
Key Highlights
- Prime location at the foot of desirable Ashmont Hill, steps to the T (public transit).
- Multi‑family home ideal for investors, owner‑occupants, or multi‑generational living.
- Versatile finished attic suitable for an office, in‑law suite, or bonus space.
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
$72,523
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
9.08%
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%
$1,450,460
$1.5M
Cap Rate 7%
$1,036,043
$1.0M
Cap Rate 9%
$805,811
$805.8K
Market Conditions
NOI Build-Up for 2,870 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
$108.5K $37.80/SF
− Vacancy
−$4.9K −$1.70/SF
EGI
$103.6K $36.10/SF
− OpEx
−$31.1K −$10.83/SF
NOI
$72.5K $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%
$1,450,460
Cap Rate 7%
$1,036,043
Cap Rate 9%
$805,811
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$906.5K – $1.21M
NOI $72,523 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$963.2K
$842.8K – $1.12M
NOI $67,422 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,434 @ 7.0% cap · market cap 18.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,783
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 - Two-family home near Ashmont Hill with hardwood floors.
Where is this duplex located?
The property is located at 72 Bailey St Boston, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime location at the foot of desirable Ashmont Hill, steps to the T (public transit).; Multi‑family home ideal for investors, owner‑occupants, or multi‑generational living.; Versatile finished attic suitable for an office, in‑law suite, or bonus space.
