Renovated Triplex with
For Sale
$2,030,000
73 Romsey Street, Boston, MA 02125
Three residential units offer updated systems, central air and heat, and modern finishes throughout.
Property Size4,655 SF
Price / SF$436.09
Days on Market152
Property Features for 73 Romsey Street
General Information
Standard status
Active
Size
4,655 SF
Total Parking Spaces
2
Property subtype
Multi-family / 3 Family
Zoning
R3
Net Operating Income
$239,976
Units
Unit Mix
2 x 3BR/2BA, 1 x 4BR/3BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,727
Amenities
No
Wood, Tile, Hardwood, Stone/Ceramic Tile
Dishwasher, Disposal, Microwave, Refrigerator, Range Hood, Range
7.0
Intercom
Screens
Washer & Dryer Hookup, Electric Dryer Hookup, Washer Hookup
Full, Concrete Floor, Unfinished Basement
Storage, Upgraded Cabinets, Upgraded Countertops, Bathroom with Shower Stall, Bathroom With Tub, Open Floorplan, Remodeled, Internet Available - Unknown, Bathroom With Tub & Shower, Living Room, Dining Room, Kitchen, Laundry Room, Living RM/Dining RM Combo, Intercom
7
7.00
City, Yes
Frame
Shingle
Cleared, Level
Rain Gutters, Professional Landscaping, Sprinkler System, Varies per Unit, City View(s), Screens, Porch
Bay
Bay, 1/10 to 3/10 To Beach, Beach Ownership(Public)
Porch
Building Details
Year Built
1905
Buildings
1
Listing Agency:
RE/MAX Real Estate Center
Listed By:
Melvin A. Vieira Jr. · License #9006462
(617) 536-3800
Source:
Compass
Added: Apr 4
Changed: Sep 2
Last Checked: Aug 30 at 1:21PM
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 RE/MAX Real Estate Center
Investment Insights
Based on property information with market context.
This renovated triplex contains 4,655 square feet across three residential units. The first- and second-floor residences each include 3 bedrooms and 2 full bathrooms, while the third-floor unit provides 4 bedrooms and 3 full bathrooms. Central air and heat, updated systems, and refreshed interior finishes serve the property. Interior features include hardwood, tile, upgraded cabinetry and countertops, dishwashers, ranges, refrigerators, microwaves, intercoms, and laundry hookups. The property also includes an unfinished concrete-floor basement with storage, a porch, rain gutters, professional landscaping, and an irrigation system.
Built in 1905 and zoned R3, the property is located at 73 Romsey Street in Boston’s Savin Hill section of Dorchester. Savin Hill T station, UMass Boston, and the restaurants, bars, and shops along Dorchester Ave. are within walking distance. Off-street parking is included.
Built in 1905 and zoned R3, the property is located at 73 Romsey Street in Boston’s Savin Hill section of Dorchester. Savin Hill T station, UMass Boston, and the restaurants, bars, and shops along Dorchester Ave. are within walking distance. Off-street parking is included.
Key Highlights
- Three‑unit property totaling 4,655 square feet
- First- and second‑floor units each have 3 bedrooms and 2 full baths
- Third‑floor residence offers 4 bedrooms and 3 full baths
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
$117,629
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
5.79%
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%
$2,352,580
$2.4M
Cap Rate 7%
$1,680,414
$1.7M
Cap Rate 9%
$1,306,989
$1.3M
Market Conditions
NOI Build-Up for 4,655 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
$176.0K $37.80/SF
− Vacancy
−$7.9K −$1.70/SF
EGI
$168.0K $36.10/SF
− OpEx
−$50.4K −$10.83/SF
NOI
$117.6K $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%
$2,352,580
Cap Rate 7%
$1,680,414
Cap Rate 9%
$1,306,989
Alternative Uses
Best Use
Multifamily LT 5
$1.68M
$1.47M – $1.96M
NOI $117,629 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$1.56M
$1.37M – $1.82M
NOI $109,355 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $243,996 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,154
Businesses Nearby
Explore this area
Business Placement
Demographics for 02125, MA
34,926
Population
14,999
Households
2.3
Avg Household Size
32
Median Age
42%
College-Educated
87%
High-School Grad
2.2 sq mi
ZIP Area
15,875
Density / Sq Mi
$71,810
Median Household Income
$52,106
Median Earnings
$1,897
Median Rent
$645,400
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?
Triplex - Three residential units offer updated systems, central air and heat, and modern finishes throughout.
Where is this triplex located?
The property is located at 73 Romsey Street Boston, MA.
What is the asking price?
The asking price for this property is $2,030,000.
What are key features of this property?
This property features: Three‑unit property totaling 4,655 square feet; First- and second‑floor units each have 3 bedrooms and 2 full baths; Third‑floor residence offers 4 bedrooms and 3 full baths
