Waterfront New Construction
For Sale
$695,000
Pending
99 Sumner St, Boston, MA 02128
New 2 bed, 2 bath waterfront condo with city views.
Property Size1,085 SF
Days on Market174
Property Features for 99 Sumner St
General Information
Standard status
Pending
Size
1,085 SF
Property subtype
Apartment
Amenities
Range
Dishwasher
Microwave
Refrigerator
Washer
Dryer
Central Air
Forced Air
1.0 Story
$8,067 Taxes
Public
Built in 2020
Building Details
Year Built
2020
Listing Agency:
Douglas Elliman Real Estate - The Sarkis Team
(617) 875-4950
Listed By:
The Sarkis Team · License #1999023818
(404) 668-6621
Source:
Donahuere
Added: Mar 24
Changed: Sep 10
Last Checked: Sep 13 at 3:56AM
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 Douglas Elliman Real Estate - The Sarkis Team
Investment Insights
Based on property information with market context.
This new construction residential income property features 2 bedrooms and 2 bathrooms, offering harbor and city skyline views. A south-facing private balcony allows residents to watch boats pass by. Located in The Mark at DeNormandie Wharf in East Boston, the property is transit-oriented, situated a 2-minute walk from Maverick Square Blue Line MBTA, providing convenient access to Aquarium (3 minutes) and State Street (5 minutes). Water Taxi Stop 66 and ReelHouse are nearby, and the airport is a 5-minute drive away. The property features elegant and distinctive interior finishes and is pet-friendly. Amenities include a 24/7 concierge, a fitness center with a flex studio, a harbor view resident terrace with grills and fire pits, a golf simulator, and a Tesla Model X Envoy car share. Storage is available for purchase on the same floor as the unit. The property size is 1085 square feet.
Key Highlights
- Waterfront location with stunning Harbor and City Skyline views.
- New construction featuring elegant interior finishes.
- Enjoy a South‑facing private balcony.
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
$25,489
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
3.67%
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%
$509,780
$509.8K
Cap Rate 7%
$364,129
$364.1K
Cap Rate 9%
$283,211
$283.2K
Market Conditions
NOI Build-Up for 1,085 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
$48.2K $44.40/SF
− Vacancy
−$1.8K −$1.69/SF
EGI
$46.3K $42.71/SF
− OpEx
−$20.9K −$19.22/SF
NOI
$25.5K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$509,780
Cap Rate 7%
$364,129
Cap Rate 9%
$283,211
Alternative Uses
Best Use
Apartment 5plus
$364.1K
$318.6K – $424.8K
NOI $25,489 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$812.4K
$710.9K – $947.9K
NOI $56,871 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,672
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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Frequently Asked Questions
What type of property is this?
Residential income property - New 2 bed, 2 bath waterfront condo with city views.
Where is this residential income property located?
The property is located at 99 Sumner St Boston, MA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Waterfront location with stunning Harbor and City Skyline views.; New construction featuring elegant interior finishes.; Enjoy a South‑facing private balcony.
