Somerville Two-Family Near Gilman
For Sale
$1,279,900
Pending
185-187 School St, Somerville, MA 02145
Well-maintained two-family near transit, shops, and restaurants.
Property Size2,506 SF
Days on Market565
Property Features for 185-187 School St
General Information
Standard status
Pending
Size
2,506 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,827
Building Details
Year Built
1900
Listing Agency:
Maven Realty
(617) 868-0100
Listed By:
Manish Kumar
(617) 947-6466
Source:
Exitrealty
Added: Mar 22, 2025
Changed: Sep 10
Last Checked: Sep 15 at 6:41AM
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 Maven Realty
Investment Insights
Based on property information with market context.
This well-cared-for two-family property benefits from southern exposure, filling the space with natural light. The interior features a mix of hardwood and yellow pine floors, complemented by tall ceilings. Located steps from Somerville's Gilman Square T station and bike path, the property is situated in a walkable neighborhood with cafes, shops, and restaurants. The property includes front, side, and back yards, offering peace and privacy. The backyard features a weeping cherry tree and space for a vegetable garden. The owner's unit, spanning two floors, includes five bedrooms and 1.5 bathrooms, solar panels, a large Trek deck, and a modern kitchen with stainless steel appliances. The entire house is equipped with two newer air-source heat pumps per floor (six total) for both air conditioning and heating. Newer gas furnaces are present, with one installed in 2024. A shared hot water system with a tankless system was installed in 2023. A Grizzl-E EV level 2 charger was installed in 2024. Each unit has a washer and dryer. The upstairs unit has a laundry room and a gas stove with electric conversion. The property has a Walk Score of 91 and a Bike Score of 94. This property presents an investment opportunity or the option to live with rental income potential.
Key Highlights
- Steps from Gilman Sq T (subway) and bike path, offering excellent walkability (Walk Score 91) and bikeability (Bike Score 94).
- Two‑family home with owner's unit (2 floors, 5 BR/1.5 BA) and rental income potential.
- Energy efficient: Solar panels, newer air‑source heat pumps (6 total) for heating and A/C, and newer gas furnaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,028
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,060,560
$1.1M
Cap Rate 7%
$757,543
$757.5K
Cap Rate 9%
$589,200
$589.2K
Market Conditions
NOI Build-Up for 2,506 SF
Gross rent
$79.7K $31.80/SF
− Vacancy
−$3.9K −$1.57/SF
EGI
$75.8K $30.23/SF
− OpEx
−$22.7K −$9.07/SF
NOI
$53.0K $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 Rate 5%
$1,060,560
Cap Rate 7%
$757,543
Cap Rate 9%
$589,200
Alternative Uses
Best Use
Multifamily LT 5
$757.5K
$662.9K – $883.8K
NOI $53,028 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$712.3K
$623.3K – $831.0K
NOI $49,861 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,848 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 02145, MA
27,520
Population
12,669
Households
2.2
Avg Household Size
33
Median Age
55%
College-Educated
89%
High-School Grad
1.4 sq mi
ZIP Area
19,657
Density / Sq Mi
$119,167
Median Household Income
$63,629
Median Earnings
$2,377
Median Rent
$784,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family near transit, shops, and restaurants.
Where is this duplex located?
The property is located at 185-187 School St Somerville, MA.
What is the asking price?
The asking price for this property is $1,279,900.
What are key features of this property?
This property features: Steps from Gilman Sq T (subway) and bike path, offering excellent walkability (Walk Score 91) and bikeability (Bike Score 94).; Two‑family home with owner's unit (2 floors, 5 BR/1.5 BA) and rental income potential.; Energy efficient: Solar panels, newer air‑source heat pumps (6 total) for heating and A/C, and newer gas furnaces.
