Two-Family Home with Loft in
32 Richardson Street, Somerville, MA 02145
Two-family home with versatile loft near Magoun Square.
Type:Multi-family / 2 Family
Property size:
2,992 SFPrice / SF:
$401/SF- Added:
- May 15, 2025
- Days on Market:
- 382
- Last Refresh:
- Mar 13 at 5:11 pm
Property Features for 32 Richardson Street
General Information
- Standard status
- Active
- Size
- 2,992 SF
- Property subtype
- Multi-family / 2 Family
Building Details
- Year Built
- 1905
Listing agent Legacy Fine Homes & Estates Team (617) 266-4430
Listing office Coldwell Banker Realty - Boston (617) 266-4430
Listing date May 15, 2025
Source Compass
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 Coldwell Banker Realty - Boston
HighLights
- Prime Location: Steps to the Green Line T, Tufts University, shops, dining, and parks in Magoun Square; close to Assembly Row and Davis Square with easy access to Boston.
- Versatile 2‑Family Home: Ideal for investors, multi‑generational living, or owner‑occupants with a flexible third‑floor loft.
- Spacious Layout: Nearly 3,000 sq. ft. with two units featuring 2 bedrooms, eat‑in kitchens, and modern amenities.
- Third‑Floor Loft: Sun‑filled with vaulted ceilings, skylights, and a full bath, perfect as a studio, office, or guest suite.
- Modern Amenities: Central A/C (first floor), mini‑splits (second floor), modern kitchens, and shared laundry.
- Desirable Features: Corner lot, stone driveway, inviting porch, and basement storage.
Overview
Located on a corner lot in Magoun Square, this two-family residence at 32 Richardson St offers nearly 3,000 sq. ft. of living space. The property includes a versatile third-floor loft and is suitable for investors, multi-generational living, or owner-occupants. The first floor features 2 bedrooms, a bright eat-in kitchen with gas cooking, central A/C, and tall ceilings. The second floor mirrors the layout and includes a modern kitchen and walk-in closet, and mini-splits. The sun-filled loft crowns the home with vaulted ceilings, skylights, and a full bath, making it ideal as a studio, office, or guest suite. Additional features include a stone driveway, an inviting porch, basement storage, and shared laundry. The property is located steps from the Green Line T, Tufts University, shops, dining, and parks, and offers convenient access to Assembly Row, Davis Square, and Boston.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.1k | $31.80 |
| − Vacancy | −$4.7k | −$1.57 |
| EGI | $90.4k | $30.23 |
| − OpEx | −$27.1k | −$9.07 |
| NOI | $63.3k | $21.16 |
2,992 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$904.5K
$791.4K – $1.06M
NOI $63,312 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$850.4K
$744.1K – $992.2K
NOI $59,531 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $123,988 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Somerville
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.1057686
- Latitude
- 42.3958527
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two-family home with versatile loft near Magoun Square.
Where is this duplex located?
The property is located at 32 Richardson Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Prime Location: Steps to the Green Line T, Tufts University, shops, dining, and parks in Magoun Square; close to Assembly Row and Davis Square with easy access to Boston.; Versatile 2‑Family Home: Ideal for investors, multi‑generational living, or owner‑occupants with a flexible third‑floor loft.; Spacious Layout: Nearly 3,000 sq. ft. with two units featuring 2 bedrooms, eat‑in kitchens, and modern amenities.
