Triplex with Separate Heating
New
For Sale
$1,250,000
73 Draper St, Boston, MA 02122
Each residence has its own heating system, and all three units received updates within the past two years.
Property Size3,870 SF
Price / SF$322
Days on Market6
Property Features for 73 Draper St
General Information
Standard status
Active
Size
3,870 SF
Property subtype
3 Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,710
Building Details
Building Size
3,870 SF
Year Built
1910
Buildings
1
Listing Agency:
Thumbprint Realty, LLC
Listed By:
Jeremy Brandon
(781) 227-1179
Source:
Allisonmazer
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 11:53AM
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 Thumbprint Realty, LLC
Investment Insights
Based on property information with market context.
At 73 Draper Street in Boston, this 3,870-square-foot triplex contains three units, each arranged across six rooms with three legal bedrooms and a full bath. Two units have also been configured for use with four bedrooms. The property was built in 1910, and each residence has a separate heating system. Updates to all three units were completed within the past two years.
The building offers nine legal bedrooms and three full baths overall. The seller may deliver the property fully occupied or with one or two units vacant.
The building offers nine legal bedrooms and three full baths overall. The seller may deliver the property fully occupied or with one or two units vacant.
Key Highlights
- 3,870‑square‑foot triplex with three units
- Nine legal bedrooms and three full baths
- Each unit has a six‑room layout, three legal bedrooms, and a full bath
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
$97,792
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
7.82%
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%
$1,955,840
$2.0M
Cap Rate 7%
$1,397,029
$1.4M
Cap Rate 9%
$1,086,578
$1.1M
Market Conditions
NOI Build-Up for 3,870 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
$146.3K $37.80/SF
− Vacancy
−$6.6K −$1.70/SF
EGI
$139.7K $36.10/SF
− OpEx
−$41.9K −$10.83/SF
NOI
$97.8K $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%
$1,955,840
Cap Rate 7%
$1,397,029
Cap Rate 9%
$1,086,578
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.22M – $1.63M
NOI $97,792 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$1.30M
$1.14M – $1.52M
NOI $90,914 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$2.90M
$2.54M – $3.38M
NOI $202,850 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,073
Businesses Nearby
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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 - Each residence has its own heating system, and all three units received updates within the past two years.
Where is this triplex located?
The property is located at 73 Draper St Boston, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 3,870‑square‑foot triplex with three units; Nine legal bedrooms and three full baths; Each unit has a six‑room layout, three legal bedrooms, and a full bath
