Brick Two-Family
For Sale
$899,000
88 Trenton St, Boston, MA 02128
Two-family brick home with 4 bedrooms per unit, enclosed porch, separate heating, and 2-car parking.
Property Size2,342 SF
Price / SF$383.86
Days on Market49
Property Features for 88 Trenton St
General Information
Standard status
Active
Size
2,342 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$64,800
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,558
Amenities
enclosed porch
Building Details
Building Size
2,342 SF
Year Built
1880
Stories
2
Construction
brick
Tenancy
Multi
Listing Agency:
Prestige Realty Experts Inc.
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jul 21
Changed: Sep 6
Last Checked: Sep 6 at 5:44AM
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 Prestige Realty Experts Inc.
Investment Insights
Based on property information with market context.
This large brick two-family features 4 bedrooms in each unit, along with a living room, an eat-in kitchen, and one bath each. The second floor includes an enclosed porch. The units have separate heating utilities, and the property provides 2-car parking via a shared driveway.
Located at 88 Trenton St in Boston’s Eastie area, the home is described as walkable to restaurants, stores, parks, and public transportation.
Located at 88 Trenton St in Boston’s Eastie area, the home is described as walkable to restaurants, stores, parks, and public transportation.
Key Highlights
- Large brick two‑family home built in 1880
- 4 bedrooms per unit, with living room and eat‑in kitchen
- 1 full bath per unit
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
$59,181
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
6.58%
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%
$1,183,620
$1.2M
Cap Rate 7%
$845,443
$845.4K
Cap Rate 9%
$657,567
$657.6K
Market Conditions
NOI Build-Up for 2,342 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
$88.5K $37.80/SF
− Vacancy
−$4.0K −$1.70/SF
EGI
$84.5K $36.10/SF
− OpEx
−$25.4K −$10.83/SF
NOI
$59.2K $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%
$1,183,620
Cap Rate 7%
$845,443
Cap Rate 9%
$657,567
Alternative Uses
Best Use
Multifamily LT 5
$845.4K
$739.8K – $986.4K
NOI $59,181 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$786.0K
$687.7K – $917.0K
NOI $55,018 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$1.75M
$1.53M – $2.05M
NOI $122,758 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
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 brick home with 4 bedrooms per unit, enclosed porch, separate heating, and 2-car parking.
Where is this duplex located?
The property is located at 88 Trenton St Boston, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Large brick two‑family home built in 1880; 4 bedrooms per unit, with living room and eat‑in kitchen; 1 full bath per unit
