Three-Unit Decker-Style
For Sale
$988,000
74 Trenton St, Boston, MA 02128
R3-zoned multifamily property with basement storage, enclosed patio space, and gas heating.
Property Size2,838 SF
Price / SF$348.13
Days on Market9
Property Features for 74 Trenton St
General Information
Standard status
Active
Size
2,838 SF
Property subtype
Multi-Family
Zoning
R3
Net Operating Income
$63,840
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,056
Amenities
enclosed patio area
full basement
gas heating system
Building Details
Building Size
2,838 SF
Year Built
1900
Buildings
1
Stories
3
Construction
Decker style
Listing Agency:
Ellis Realty Advisors
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Sep 19
Changed: Sep 26
Last Checked: Sep 26 at 4:14AM
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 Ellis Realty Advisors
Investment Insights
Based on property information with market context.
Built in 1900, this Decker-style multifamily residence contains 3 distinct units within 2,838 square feet of total living area. The property offers 11 rooms and 3 full baths, along with an enclosed patio, full basement, and gas heating system. One unit is vacant, while the remaining two units are expected to become vacant soon, providing flexibility for a future owner’s renovation or occupancy plans.
Located at 74 Trenton St in Boston’s East Boston neighborhood, the property is positioned a few blocks from public transit, local shopping, and neighborhood dining. R3 zoning supports its multifamily classification, while the three-unit configuration offers a defined residential income property format.
Located at 74 Trenton St in Boston’s East Boston neighborhood, the property is positioned a few blocks from public transit, local shopping, and neighborhood dining. R3 zoning supports its multifamily classification, while the three-unit configuration offers a defined residential income property format.
Key Highlights
- 2,838 square feet of total living area
- 3 distinct residential units with 11 rooms and 3 full baths
- One unit vacant; remaining two units expected to become vacant soon
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
$71,714
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
7.26%
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%
$1,434,280
$1.4M
Cap Rate 7%
$1,024,486
$1.0M
Cap Rate 9%
$796,822
$796.8K
Market Conditions
NOI Build-Up for 2,838 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
$107.3K $37.80/SF
− Vacancy
−$4.8K −$1.70/SF
EGI
$102.4K $36.10/SF
− OpEx
−$30.7K −$10.83/SF
NOI
$71.7K $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%
$1,434,280
Cap Rate 7%
$1,024,486
Cap Rate 9%
$796,822
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$896.4K – $1.20M
NOI $71,714 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$952.4K
$833.4K – $1.11M
NOI $66,670 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $148,757 @ 7.0% cap · market cap 15.06%
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
1,553
Businesses Nearby
Explore this area
Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
Median Home Value
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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 - R3-zoned multifamily property with basement storage, enclosed patio space, and gas heating.
Where is this triplex located?
The property is located at 74 Trenton St Boston, MA.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: 2,838 square feet of total living area; 3 distinct residential units with 11 rooms and 3 full baths; One unit vacant; remaining two units expected to become vacant soon
