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South Boston MA Multi-Family Properties

Empowering Your Real Estate Investment Search

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Steve Martin
Buy or Sell a Multi
Licensed in MA

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Kevin Potter
Mortgage Financing
NMLS# 1401242, 3029, 41781

Header Left

Steve Martin
Buy or Sell a Multi
Licensed in MA

Header Right

Kevin Potter
Mortgage Financing
NMLS# 1401242, 3029, 41781
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MultiFamilyProperties.com » Markets » South Boston » Property Details

556 E Broadway, Boston, MA 02127

$1,800,000
 Call Agent  Text Agent
3 Units
$600,000 Cost/Unit
6 BRs
3,942 Sq.Ft.
1.90% Cap Rate
-10.80% Cash-on-Cash Return

REQUEST INFO / SCHEDULE SHOWING...

Historic Brownstone on the "Top of the Hill" on East Broadway with tremendous natural light and magnificent views. 556 E. Broadway is just blocks from the beautiful beaches of Pleasure Bay and steps from the shops and restaurants along Broadway. The brownstone has 3 residential units and 1 unit with rear access that can be used as commercial space. Unit 1 is a 634 square foot studio with an eat-in ... kitchen, unit 2 is a 1004 square foot 2 bedroom/1 full bath, and unit 3 is a duplex 3 bedroom/1 full bath with 117 square feet of outdoor space.

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PROPERTY HIGHLIGHTS

Status
Active
Days on Market
107
List Price
$1,800,000
Price per Unit
$600,000
Price per Bedroom
$300,000
Gross Living Area
3,942 Sq.Ft.
Price per Sq.ft.
$457
Assessed Value
$1,515,000
Taxes
$21,657

PROPERTY FEATURES

Year Built
1899
Number of Units
3
Total Bedroms
6
Bathrooms
3 full / 0 half
Parking/Garage Spaces
2 / 0
Lot Size
960 Sq.Ft.
Acreage
0.02 acres
Basement
Y

ESTIMATED MORTGAGE PAYMENT

Offer Price
$1,800,000
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Down Payment %
25%
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Down Payment Amount
$450,000
Loan Amount
$1,350,000
Interest Rate Estimate
4.50%
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Monthly Payment
Contact Our Mortgage Partner:

Kevin Potter
Cross Country Mortgage
978-548-4464
$6,840
Contact Our Mortgage Partner:

Kevin Potter
Cross Country Mortgage
978-548-4464

PROJECTED ANNUAL INCOME

Projected Rents
Based on average rents in this market for these sized units.
$62,676
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Less 5.0% Vacancy
$3,134
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Net Rental Income
$59,542
Other Income
Laundry, Storage, etc.
$0
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Total Operating Income
$59,542

PROJECTED ANNUAL EXPENSE

Real Estate Taxes
Obtained from MLS or estimated based on tax rates.
$21,657
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Insurance
Contact Our Insurance Partner:

Greg Porziano
Paul Murphy Insurance
617-288-2873
$2,000
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Water/Sewer
Estimated based on property size.
$750
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Heat
Typically paid by tenants.
$0
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Electric
Typically paid by tenants.
$0
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Trash Removal
Typically paid by the owner.
$0
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Management Fee
Contact our property management software partner:

Hemlane
All-in-one Property Mgmt Tool
$0
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Maintenance/Repairs
We estimate 3% of operating income.
$1,786
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Total Operating Expenses
$26,193

PROJECTED RETURN ON INVESTMENT

Total Operating Income
$59,542
Total Operating Expenses
$26,193
Net Operating Income
$33,349
Est. Annual Mortgage Payments
Contact Our Mortgage Partner:

Kevin Potter
Cross Country Mortgage
978-548-4464
$-82,080
Projected Cash Flow
$-48,731
Cash on Cash Return
Projected Cash Flow Over Down Payment
-10.80%
Cap Rate
Net Operating Income Divided by Sales Price
1.90%
Condo Conversion Equity
$577,026

Local Multi-Family Experts for This Market…

Real Estate Agent


Steve Martin
Wellsco Realty
617-212-3251

Residential Lender


Kevin Potter
Cross Country Mortgage
978-548-4464

Commercial Lender


Steven Provanzano
East Boston Savings Bank
978-977-8543

Real Estate Attorney


Meredith Fine
Cape Ann Business Law, PC
978-314-9277

Insurance Company


Greg Porziano
Paul Murphy Insurance
617-288-2873

Property Management


Hemlane
All-in-one Property Mgmt Tool
This property is listed by Live in Luxury Real Estate Team of Douglas Elliman Real Estate. The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing, leasing or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
Disclaimer: We do not guarantee the numbers provided are 100% accurate. These are rough estimates to help decide whether or not you’d like to learn more about the property. We recommend doing your own due diligence or having a one of our agents do the leg work for you. There are many factors that can affect any of the projected numbers listed above. Such factors beyond our control include but are not limited to: financing terms, tax rates, overall condition of property, and investor ability to operate and manage property and tenants effectively.
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Steve Martin
Wellsco Realty
617-212-3251 direct
978-518-1481 office
40R Merrimac Street, Newburyport, MA 01950

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