Magoun Square Three-Family
For Sale
$1,750,000
5 Partridge Ave, Somerville, MA 02145
Well-maintained three-family in desirable Somerville location with strong rental potential.
Property Size3,096 SF
Days on Market112
Property Features for 5 Partridge Ave
General Information
Standard status
Active
Size
3,096 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$13,904
Building Details
Building Size
3,096 SF
Year Built
1920
Stories
3
Units
3
Listing Agency:
(617) 634-9665
Listed By:
Maggie Dee + Charles Cherney Team
(617) 634-9665
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 13 at 6:53AM
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 Maggie Dee + Charles Cherney Team
Investment Insights
Based on property information with market context.
This well-maintained three-family property is situated on a quiet side street in the desirable Magoun Square neighborhood. Each unit features two spacious bedrooms, separate living and dining rooms, and generous kitchens with pantry storage. High ceilings and abundant natural light enhance the interiors. A shared backyard area provides space for outdoor enjoyment. The property presents an opportunity for investors or owner-occupants seeking rental potential in a prime Somerville location. Current lease agreements are in place through May 31, 2027 for units 2 and 3, and through May 31, 2026 for unit 1. The location is very bikeable with a bike score of 82, and considered a walker's paradise with a walk score of 92. The transit score is 70, indicating excellent transit options.
Key Highlights
- Prime Magoun Square location (Somerville)
- Strong rental potential for investors or owner‑occupants
- Three‑family property with well‑maintained units
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
$65,512
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
3.74%
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%
$1,310,240
$1.3M
Cap Rate 7%
$935,886
$935.9K
Cap Rate 9%
$727,911
$727.9K
Market Conditions
NOI Build-Up for 3,096 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
$98.5K $31.80/SF
− Vacancy
−$4.9K −$1.57/SF
EGI
$93.6K $30.23/SF
− OpEx
−$28.1K −$9.07/SF
NOI
$65.5K $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%
$1,310,240
Cap Rate 7%
$935,886
Cap Rate 9%
$727,911
Alternative Uses
Best Use
Multifamily LT 5
$935.9K
$818.9K – $1.09M
NOI $65,512 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$880.0K
$770.0K – $1.03M
NOI $61,600 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,297 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,875
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?
Triplex - Well-maintained three-family in desirable Somerville location with strong rental potential.
Where is this triplex located?
The property is located at 5 Partridge Ave Somerville, MA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Prime Magoun Square location (Somerville); Strong rental potential for investors or owner‑occupants; Three‑family property with well‑maintained units
