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$1,025,000

For Sale - Active
294 Newbury St Unit 3B, Boston, MA 02115
1 Bed
1 Bath
773 Square Feet
0.00 Acres Lot
Built in 1900
For Sale - Active
11 Units
Checked: 2 days ago
Updated: Jun 21, 2025 at 03:22AM

Investment Summary


Monthly Cash Flow
-$4,040
Cap Rate
1.5%
Cash-on-Cash Return
-20.6%
Debt Coverage Ratio
0.25
Internal Rate of Return (5 years)
-15.9%

Property Description


0.00 Acres Lot
Built in 1900
For Sale - Active
11 Units

This stunning one-bedroom condo combines a prime location in the heart of Back Bay on Newbury Street. The open floor plan features a sleek, modern kitchen with Sub-Zero appliances, a Wolf gas stove, Bosch dishwasher, high end cabinetry, elegant granite countertops, and a breakfast bar that seamlessly connects to the dining and living areas, complete with a gas fireplace. The bedroom boasts excellent closet space and its own gas fireplace. Additional amenities include a marble-tiled full bath, recessed lighting, hardwood floors, abundant closet storage, built-in speakers, in-unit washer and dryer, elevator, and direct access parking. The building is pet-friendly and professionally managed. Ideally situated just steps from the best restaurants, shops, public transportation, and the picturesque Esplanade and Commonwealth Ave Mall.

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Location


Property Details


Parking

  • Description: Off Street, Assigned
  • Details: Assigned
  • Garage Spaces: 0
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 3
  • # of Stories: 1
  • Basement: Yes
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Brick
  • Roof Type: Flat

HOA

  • Has HOA: Yes
  • HOA Fee: $553/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: CBOSW:05P:03114S:026
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1900

Tax Information

  • Annual Tax: $11,580

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Suffolk

Investment Summary


Monthly Cash Flow
-$4,040
Cap Rate
1.5%
Cash-on-Cash Return
-20.6%
Debt Coverage Ratio
0.25
Internal Rate of Return (5 years)
-15.9%

Purchase Details

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Purchase price:
$1,025,000
Amount financed:
-$820,000
Down payment:
$205,000
Closing costs:
$30,750
Rehab costs:
$0
Initial cash invested:
$235,750
Square feet:
773
Cost per square foot:
$1,326
Monthly rent per square foot:
$5.30

Financing Details

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Loan amount:
$820,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$5,351
Property tax:
$965
Insurance:
$287
Private mortgage insurance (PMI):
$0
Monthly payment:
$6,603

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,100 $49,200
Vacancy loss: (6%)
6% -$246 -$2,952
Operating income:
$3,854 $46,248

Operating Expenses


% Rent Monthly Yearly
Property taxes: (24%)
24%-$965-$11,580
Insurance: (7%)
7%-$287-$3,444
Property management: (8%)
8%-$328-$3,936
Repairs & maintenance: (5%)
5%-$205-$2,460
Capital expenditures: (5%)
5%-$205-$2,460
HOA fees: (13%)
13%-$553-$6,636
Total operating expenses: (62%)
62%-$2,543-$30,516

Cash Flow


Monthly Yearly
Net operating income:
$1,311 $15,732
Mortgage payments:
-$5,351 -$64,212
Cash flow:
$4,040 $48,480