Updated Two-Family
For Sale
$1,299,000
29-31 Victoria St, Somerville, MA 02144
Residential Income, Somerville, MA
Property Size3,136 SF
Lot Size0.09 Acres
Price / SF$414.22
Days on Market53
Property Features for 29-31 Victoria St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Parking
2
Directions
Off Broadway
Standard status
Active
APN
M:6 B:B L:10
Size
3,136 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14026
Amenities
in-unit laundry
private backyard
Building Details
Year built
1930
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty Boston Northwest
(617) 497-8900
Listed By:
Christina Hill
(978) 369-5775
Added: Jul 9
Changed: Aug 27
Last Checked: Aug 30 at 3:06PM
MLS# 73547658
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.
This 1930 duplex contains 3,136 square feet across two residential units. The first unit includes two bedrooms, one bathroom, a living room, and an eat-in kitchen. The second provides four bedrooms, one bathroom, a spacious living area, and in-unit laundry. Both residences have freshly painted interiors and refinished hardwood flooring. Water heaters serving each unit are less than one year old.
The property occupies a 0.0927-acre lot with a private, partially fenced backyard and a driveway accommodating up to two vehicles. Located on Victoria Street in Somerville, the home offers access to Cambridge, Davis Square, and Tufts University. RB zoning is listed for the property.
The property occupies a 0.0927-acre lot with a private, partially fenced backyard and a driveway accommodating up to two vehicles. Located on Victoria Street in Somerville, the home offers access to Cambridge, Davis Square, and Tufts University. RB zoning is listed for the property.
Key Highlights
- Two‑unit duplex with 3,136 square feet of building area
- Unit 1: 2 bedrooms, 1 bathroom, living room, and eat‑in kitchen
- Unit 2: 4 bedrooms, 1 bathroom, spacious living area, and in‑unit laundry
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
$66,359
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
5.11%
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%
$1,327,180
$1.3M
Cap Rate 7%
$947,986
$948.0K
Cap Rate 9%
$737,322
$737.3K
Market Conditions
NOI Build-Up for 3,136 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
$99.7K $31.80/SF
− Vacancy
−$4.9K −$1.57/SF
EGI
$94.8K $30.23/SF
− OpEx
−$28.4K −$9.07/SF
NOI
$66.4K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,327,180
Cap Rate 7%
$947,986
Cap Rate 9%
$737,322
Alternative Uses
Best Use
Multifamily LT 5
$948.0K
$829.5K – $1.11M
NOI $66,359 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$891.4K
$780.0K – $1.04M
NOI $62,396 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$1.86M
$1.62M – $2.17M
NOI $129,955 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,981
Businesses Nearby
Explore this area
Business Placement
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
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?
Duplex - Two residential units offer distinct bedroom layouts, refreshed interiors, outdoor space, and off-street parking.
Where is this duplex located?
The property is located at 29-31 Victoria St Somerville, MA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,136 square feet of building area; Unit 1: 2 bedrooms, 1 bathroom, living room, and eat‑in kitchen; Unit 2: 4 bedrooms, 1 bathroom, spacious living area, and in‑unit laundry
