C-1 Zoned
For Sale
$2,900,000
Pending
114 Elm St, Cambridge, MA 02139
Residential Income, Cambridge, MA
Property Size3,795 SF
Lot Size0.12 Acres
Days on Market283
Property Features for 114 Elm St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-1
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 9, Bedroom 10, Bathroom 5, Bedroom 12, Bathroom 3, Bathroom 4, Bedroom 6, Bathroom 6, Bedroom 5, Bedroom 8, Bedroom 7, Bedroom 1, Bedroom 2, Bedroom 11, Bathroom 2
Parking
4
Directions
Off Hampshire St
Standard status
Pending
APN
M:00086 L:00097,403194
Size
3,795 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12089
Building Details
Year built
1930
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams Realty Boston Northwest
(617) 497-8900
Listed By:
Christina Hill
(978) 369-5775
Added: Nov 20, 2025
Changed: Aug 19
Last Checked: Aug 30 at 6:06PM
MLS# 73456611
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 114 Elm St in Cambridge, Massachusetts, this triplex contains three residential units within a 3,795-square-foot building. The property was built in 1930 and sits on a 5,173-square-foot lot, offering an established multifamily layout for continued residential use.
The property is identified as C-1 zoning and is situated in Cambridge’s 02139 postal area, within Middlesex County. Its documented bedroom and bathroom rooms support the existing three-unit residential configuration.
The property is identified as C-1 zoning and is situated in Cambridge’s 02139 postal area, within Middlesex County. Its documented bedroom and bathroom rooms support the existing three-unit residential configuration.
Key Highlights
- Three residential units
- 3,795‑square‑foot building
- 5,173‑square‑foot lot
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
$95,194
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
3.28%
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%
$1,903,880
$1.9M
Cap Rate 7%
$1,359,914
$1.4M
Cap Rate 9%
$1,057,711
$1.1M
Market Conditions
NOI Build-Up for 3,795 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
$143.5K $37.80/SF
− Vacancy
−$7.5K −$1.97/SF
EGI
$136.0K $35.83/SF
− OpEx
−$40.8K −$10.75/SF
NOI
$95.2K $25.08/SF
Area
Cambridge, MA
Vacancy
5.20%
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%
$1,903,880
Cap Rate 7%
$1,359,914
Cap Rate 9%
$1,057,711
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,194 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $88,967 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$2.93M
$2.56M – $3.41M
NOI $204,803 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 02139, MA
39,525
Population
16,930
Households
2.3
Avg Household Size
30
Median Age
78%
College-Educated
94%
High-School Grad
1.6 sq mi
ZIP Area
24,703
Density / Sq Mi
$124,648
Median Household Income
$61,025
Median Earnings
$2,613
Median Rent
$1,066,200
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?
Triplex - Three-unit residential property with established multifamily configuration in Cambridge.
Where is this triplex located?
The property is located at 114 Elm St Cambridge, MA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Three residential units; 3,795‑square‑foot building; 5,173‑square‑foot lot
