Renovated Multifamily Property with
For Sale
$1,199,000
Pending
17 Everett Ave, Somerville, MA 02145
Turnkey, renovated multifamily property with a three-car garage.
Property Size2,200 SF
Days on Market124
Property Features for 17 Everett Ave
General Information
Standard status
Pending
Size
2,200 SF
Total Parking Spaces
8
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$7,626
Building Details
Building Size
2,200 SF
Year Built
1890
Listing Agency:
Today Real Estate, Inc.
(781) 910-5475
Listed By:
Kyle Pettinelli
Source:
Classifiedrealtygroup
Added: Apr 23
Changed: Aug 23
Last Checked: Jul 31 at 2:24AM
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 Today Real Estate, Inc.
Investment Insights
Based on property information with market context.
Located centrally, 17 Everett Ave is a fully renovated multifamily property suitable for investors and owner-occupants. Both units feature new electrical and plumbing systems, along with new GE appliances and refinished hardwood floors. The second unit includes a newly constructed front porch, offering flexible space for a home office, sunroom, or additional living area. Each unit has private entrances and in-unit laundry with new machines. The property includes a three-car garage and a private driveway, providing off-street parking. The home is delivered vacant and ready for immediate occupancy or income potential. Unit 1 has two bedrooms, one full bath, and a single-level living layout. Unit 2 spans the second and third floors and features three bedrooms, one full bath, and a walk-in closet. The property size is 2200 square feet.
Key Highlights
- Fully renovated multi‑family property with all‑new electrical and plumbing.
- Delivered vacant and ready for immediate occupancy or rental income.
- Rare three‑car garage and private driveway provide ample off‑street parking.
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
$46,553
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
3.88%
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%
$931,060
$931.1K
Cap Rate 7%
$665,043
$665.0K
Cap Rate 9%
$517,256
$517.3K
Market Conditions
NOI Build-Up for 2,200 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
$70.0K $31.80/SF
− Vacancy
−$3.5K −$1.57/SF
EGI
$66.5K $30.23/SF
− OpEx
−$20.0K −$9.07/SF
NOI
$46.6K $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%
$931,060
Cap Rate 7%
$665,043
Cap Rate 9%
$517,256
Alternative Uses
Best Use
Multifamily LT 5
$665.0K
$581.9K – $775.9K
NOI $46,553 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$625.3K
$547.2K – $729.6K
NOI $43,773 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,167 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,293
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Turnkey, renovated multifamily property with a three-car garage.
Where is this multifamily property located?
The property is located at 17 Everett Ave Somerville, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Fully renovated multi‑family property with all‑new electrical and plumbing.; Delivered vacant and ready for immediate occupancy or rental income.; Rare three‑car garage and private driveway provide ample off‑street parking.
