Side-by-Side Duplex with Water
For Sale
$650,000
1022 Riverside Ave, Somerset, MA 02726
Corner-lot two-family property with separate driveways, fenced outdoor space, and expansion potential.
Property Size2,422 SF
Days on Market193
Property Features for 1022 Riverside Ave
General Information
Standard status
Active
Size
2,422 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
Porch, Water Front, for Gas Range, for Electric Dryer, Washer Hookup, Shingle
Building Details
Building Size
2,422 SF
Year Built
1941
Buildings
1
Stories
3
Listing Agency:
Keller Williams South Watuppa
(774) 488-8654
Listed By:
Dawn Mercer · License #MA
(774) 488-8654
Source:
Kw
Added: Feb 20
Changed: Aug 30
Last Checked: Sep 1 at 12:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams South Watuppa
Investment Insights
Based on property information with market context.
This side-by-side duplex, built in 1941, provides two separate residential units, each with 2 bedrooms, bright eat-in kitchen space, and private entrances. One unit may be configured for a third bedroom. The property also includes a fenced yard, two driveways, a full walk-out unfinished basement, and a walk-up attic that could support future expansion. Water views and a porch add to the exterior setting.
Recent mechanical improvements include one brand-new boiler, a second boiler scheduled for installation before closing, and two brand-new hot water heaters. The home sits near the bridge and is a couple of miles from the new train station, with shopping, the town beach, waterfront restaurants, and other local amenities nearby.
Recent mechanical improvements include one brand-new boiler, a second boiler scheduled for installation before closing, and two brand-new hot water heaters. The home sits near the bridge and is a couple of miles from the new train station, with shopping, the town beach, waterfront restaurants, and other local amenities nearby.
Key Highlights
- Two‑unit side‑by‑side duplex with 2 bedrooms in each unit
- One unit offers potential for a third bedroom
- Corner lot with two separate driveways and a fenced yard
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
$43,284
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
6.66%
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%
$865,680
$865.7K
Cap Rate 7%
$618,343
$618.3K
Cap Rate 9%
$480,933
$480.9K
Market Conditions
NOI Build-Up for 2,422 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
$66.8K $27.60/SF
− Vacancy
−$5.0K −$2.07/SF
EGI
$61.8K $25.53/SF
− OpEx
−$18.6K −$7.66/SF
NOI
$43.3K $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%
$865,680
Cap Rate 7%
$618,343
Cap Rate 9%
$480,933
Alternative Uses
Best Use
Multifamily LT 5
$618.3K
$541.1K – $721.4K
NOI $43,284 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$574.6K
$502.8K – $670.4K
NOI $40,225 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,247 @ 7.0% cap · market cap 15.88%
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
433
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 - Corner-lot two-family property with separate driveways, fenced outdoor space, and expansion potential.
Where is this duplex located?
The property is located at 1022 Riverside Ave Somerset, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with 2 bedrooms in each unit; One unit offers potential for a third bedroom; Corner lot with two separate driveways and a fenced yard
