Two-Family Home with Fenced
For Sale
$974,999
969 Canterbury St, Boston, MA 02131
R2-zoned property with one vacant unit, one rented unit, and off-street parking.
Property Size2,044 SF
Lot Size0.20 Acres
Price / SF$477.01
Days on Market84
Property Features for 969 Canterbury St
General Information
Standard status
Active
Size
2,044 SF
Total Parking Spaces
3
Lot size
0.20 Acres
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$36,000
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,119
Amenities
private outdoor deck
large fenced backyard
off-street parking
Building Details
Building Size
2,044 SF
Year Built
1935
Buildings
1
Stories
3
Listing Agency:
www.HomeZu.com
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 11
Changed: Sep 2
Last Checked: Sep 1 at 3:19PM
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 www.HomeZu.com
Investment Insights
Based on property information with market context.
This two-family property was built in 1935 and includes two separate residential units with spacious living areas, high ceilings, tiled bathrooms, and updated kitchens. The first-floor residence has a dedicated dining area and Jacuzzi tub, while the second-floor unit includes a private outdoor deck. Multiple entrances serve the property, which also provides off-street parking and a large fenced backyard.
The first-floor unit is vacant and available for occupancy, while the second-floor unit is currently rented. The property sits on an oversized 8,534-square-foot lot and is zoned R2. Its Boston location provides access to Roslindale Village, commuter rail and bus service, shopping, restaurants, and parks.
The first-floor unit is vacant and available for occupancy, while the second-floor unit is currently rented. The property sits on an oversized 8,534-square-foot lot and is zoned R2. Its Boston location provides access to Roslindale Village, commuter rail and bus service, shopping, restaurants, and parks.
Key Highlights
- Two‑family property on an 8,534‑square‑foot lot
- R2 zoning with two residential units
- First‑floor unit is vacant; second‑floor unit is currently rented
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
$51,650
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
5.30%
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%
$1,033,000
$1.0M
Cap Rate 7%
$737,857
$737.9K
Cap Rate 9%
$573,889
$573.9K
Market Conditions
NOI Build-Up for 2,044 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
$77.3K $37.80/SF
− Vacancy
−$3.5K −$1.70/SF
EGI
$73.8K $36.10/SF
− OpEx
−$22.1K −$10.83/SF
NOI
$51.7K $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%
$1,033,000
Cap Rate 7%
$737,857
Cap Rate 9%
$573,889
Alternative Uses
Best Use
Multifamily LT 5
$737.9K
$645.6K – $860.8K
NOI $51,650 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$686.0K
$600.2K – $800.3K
NOI $48,018 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,138 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 02131, MA
30,544
Population
13,264
Households
2.3
Avg Household Size
39
Median Age
52%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
10,909
Density / Sq Mi
$109,237
Median Household Income
$65,268
Median Earnings
$1,999
Median Rent
$634,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned property with one vacant unit, one rented unit, and off-street parking.
Where is this duplex located?
The property is located at 969 Canterbury St Boston, MA.
What is the asking price?
The asking price for this property is $974,999.
What are key features of this property?
This property features: Two‑family property on an 8,534‑square‑foot lot; R2 zoning with two residential units; First‑floor unit is vacant; second‑floor unit is currently rented
