Two-Family Residential Income
For Sale
$1,049,986
Pending
68 Raymond Ave, Somerville, MA 02144
Spacious two-family home with five bedrooms and two full bathrooms, fully vacant and ready for immediate occupancy.
Property Size2,867 SF
Days on Market47
Property Features for 68 Raymond Ave
General Information
Standard status
Pending
Size
2,867 SF
Total Parking Spaces
1
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,183
Building Details
Building Size
2,867 SF
Year Built
1910
Listing Agency:
United Brokers
(857) 361-8584
Listed By:
Matt Tasgin · License #9586146
Source:
Classifiedrealtygroup
Added: Jul 17
Changed: Aug 27
Last Checked: Aug 24 at 3:19AM
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 United Brokers
Investment Insights
Based on property information with market context.
This spacious two-family residential income property is fully vacant and ready for its next owner. The home offers approximately 2,867 square feet of living space with five bedrooms and two full bathrooms, providing generous room sizes and abundant natural light. With immediate occupancy available, the layout offers flexibility for owner-occupancy or rental use.
The property is located in Somerville near Davis Square and Teele Square, with the MBTA Red Line within minutes for commuting to Cambridge and Boston. It is also close to Tufts University, Powder House Park, the Somerville Community Path, and a variety of restaurants, cafes, shopping, and entertainment.
As listed, the home is configured as a two-family residence and is available now for buyers looking for a turn-key, vacant asset.
The property is located in Somerville near Davis Square and Teele Square, with the MBTA Red Line within minutes for commuting to Cambridge and Boston. It is also close to Tufts University, Powder House Park, the Somerville Community Path, and a variety of restaurants, cafes, shopping, and entertainment.
As listed, the home is configured as a two-family residence and is available now for buyers looking for a turn-key, vacant asset.
Key Highlights
- Fully vacant two‑family home with 5 bedrooms and 2 full bathrooms, ready for immediate occupancy
- Approx. 2,867 sq ft of living space in a 1910‑built home
- Great flexibility for owner‑occupants, investors, or multi‑generational living
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
$60,667
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
5.78%
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%
$1,213,340
$1.2M
Cap Rate 7%
$866,671
$866.7K
Cap Rate 9%
$674,078
$674.1K
Market Conditions
NOI Build-Up for 2,867 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
$91.2K $31.80/SF
− Vacancy
−$4.5K −$1.57/SF
EGI
$86.7K $30.23/SF
− OpEx
−$26.0K −$9.07/SF
NOI
$60.7K $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%
$1,213,340
Cap Rate 7%
$866,671
Cap Rate 9%
$674,078
Alternative Uses
Best Use
Multifamily LT 5
$866.7K
$758.3K – $1.01M
NOI $60,667 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$814.9K
$713.1K – $950.7K
NOI $57,044 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,808 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,350
Businesses Nearby
Explore this area
Business Placement
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
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?
Duplex - Spacious two-family home with five bedrooms and two full bathrooms, fully vacant and ready for immediate occupancy.
Where is this duplex located?
The property is located at 68 Raymond Ave Somerville, MA.
What is the asking price?
The asking price for this property is $1,049,986.
What are key features of this property?
This property features: Fully vacant two‑family home with 5 bedrooms and 2 full bathrooms, ready for immediate occupancy; Approx. 2,867 sq ft of living space in a 1910‑built home; Great flexibility for owner‑occupants, investors, or multi‑generational living
