Duplex with Detached
For Sale
Under Contract
$629,900
84 Third St, Somerset, MA 02726
Residential Income, Somerset, MA
Property Size2,210 SF
Lot Size0.34 Acres
Price / SF$285.02
Days on Market12
Property Features for 84 Third St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Parking
7
Directions
Please use GPS for best navigation.
Standard status
Active Under Contract
APN
M:0B5 L:0037
Size
2,210 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6216
Building Details
Year built
1930
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
(508) 677-3233
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Aug 16
Changed: Aug 22
Last Checked: Aug 27 at 2:06AM
MLS# 73564206
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 2,210-square-foot duplex, built in 1930, includes two residential units with distinct layouts. Unit #2 extends across two floors and is described with 2-3 bedrooms, while Unit #1 has separate front and rear deck entrances. The property includes three bathrooms and five bedrooms overall based on the listed room count.
Set on a 15,000-square-foot lot, the property features a detached two-car garage and additional storage or workshop space with electricity. The third floor adds a half bath, full insulation, updated heating, and updated electrical wiring. The yard provides space for outdoor use, gardening, entertaining, children, and pets. R1 zoning and the multi-level configuration further define the property’s residential income profile.
Set on a 15,000-square-foot lot, the property features a detached two-car garage and additional storage or workshop space with electricity. The third floor adds a half bath, full insulation, updated heating, and updated electrical wiring. The yard provides space for outdoor use, gardening, entertaining, children, and pets. R1 zoning and the multi-level configuration further define the property’s residential income profile.
Key Highlights
- 2,210 square feet on a 15,000‑square‑foot lot
- Two‑family layout with Unit #2 spanning 2 floors and offering 2‑3 bedrooms
- Detached two‑car garage with additional storage/workshop space and electricity
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
$39,495
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
6.27%
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%
$789,900
$789.9K
Cap Rate 7%
$564,214
$564.2K
Cap Rate 9%
$438,833
$438.8K
Market Conditions
NOI Build-Up for 2,210 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
$61.0K $27.60/SF
− Vacancy
−$4.6K −$2.07/SF
EGI
$56.4K $25.53/SF
− OpEx
−$16.9K −$7.66/SF
NOI
$39.5K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /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%
$789,900
Cap Rate 7%
$564,214
Cap Rate 9%
$438,833
Alternative Uses
Best Use
Multifamily LT 5
$564.2K
$493.7K – $658.3K
NOI $39,495 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$524.3K
$458.8K – $611.7K
NOI $36,704 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,210 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 02726, MA
15,671
Population
6,719
Households
2.3
Avg Household Size
46
Median Age
37%
College-Educated
93%
High-School Grad
5.5 sq mi
ZIP Area
2,849
Density / Sq Mi
$110,427
Median Household Income
$65,106
Median Earnings
$1,316
Median Rent
$389,300
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 flexible layouts, separate entrances, and additional workshop space for varied household needs.
Where is this duplex located?
The property is located at 84 Third St Somerset, MA.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: 2,210 square feet on a 15,000‑square‑foot lot; Two‑family layout with Unit #2 spanning 2 floors and offering 2‑3 bedrooms; Detached two‑car garage with additional storage/workshop space and electricity
