Cambridge Three-Family Investment
For Sale
$2,375,000
7-9 Orrin St, Cambridge, MA 02138
Well-maintained three-family property near Porter Square and Fresh Pond.
Property Size3,342 SF
Days on Market112
Property Features for 7-9 Orrin St
General Information
Standard status
Active
Size
3,342 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$12,282
Building Details
Building Size
3,342 SF
Year Built
1911
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 12 at 6:26AM
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 located just off Garden Street. The building features three floor-through units, each with high ceilings, hardwood floors, kitchen pantries, and separate systems. Front and rear decks are included with each unit. Additional features include a full unfinished basement, a side yard, and a spacious backyard. Current leases are in place through May 31, 2027. This property is a solid investment with potential for condo conversion. The location provides convenient access to Porter Square and Fresh Pond. The bike score is 96, indicating it is a biker's paradise. The walk score is 96, designating it as a walker's paradise. The transit score is 70, indicating excellent transit options.
Key Highlights
- Leases in place through May 31, 2027, providing immediate rental income.
- Excellent location with easy access to Porter Square and Fresh Pond, plus high walk, bike, and transit scores.
- Potential for condo conversion, offering a future value‑add opportunity.
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
$83,831
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
3.53%
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%
$1,676,620
$1.7M
Cap Rate 7%
$1,197,586
$1.2M
Cap Rate 9%
$931,456
$931.5K
Market Conditions
NOI Build-Up for 3,342 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
$126.3K $37.80/SF
− Vacancy
−$6.6K −$1.97/SF
EGI
$119.8K $35.83/SF
− OpEx
−$35.9K −$10.75/SF
NOI
$83.8K $25.08/SF
Area
Cambridge, MA
Vacancy
5.20%
Lease Rate
$37.80 /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%
$1,676,620
Cap Rate 7%
$1,197,586
Cap Rate 9%
$931,456
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,831 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$1.12M
$979.3K – $1.31M
NOI $78,347 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$2.58M
$2.25M – $3.01M
NOI $180,356 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,116
Businesses Nearby
Explore this area
Business Placement
Demographics for 02138, MA
37,982
Population
16,132
Households
2.4
Avg Household Size
30
Median Age
86%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
14,067
Density / Sq Mi
$122,040
Median Household Income
$46,436
Median Earnings
$2,799
Median Rent
$1,088,700
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 property near Porter Square and Fresh Pond.
Where is this triplex located?
The property is located at 7-9 Orrin St Cambridge, MA.
What is the asking price?
The asking price for this property is $2,375,000.
What are key features of this property?
This property features: Leases in place through May 31, 2027, providing immediate rental income.; Excellent location with easy access to Porter Square and Fresh Pond, plus high walk, bike, and transit scores.; Potential for condo conversion, offering a future value‑add opportunity.
