Victorian Triplex with Owner-User
For Sale
$1,300,000
13 Howe Street, Somerville, MA 02145
Three residential units with updated finishes, outdoor space, and convenient transit access support flexible ownership options.
Property Size2,636 SF
Price / SF$493.17
Days on Market9
Property Features for 13 Howe Street
General Information
Standard status
Active
Size
2,636 SF
Total Parking Spaces
4
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA, 1 x studio/1BA
Multifamily Units
3
Amenities
cedar siding
replacement windows
decks
fenced yard
cobblestone driveway
stainless steel appliances
granite counters
maple cabinets
Building Details
Year Built
1900
Buildings
1
Stories
3
Construction
Victorian Italianate
Listing Agency:
Benoit Real Estate Group,LLC
Listed By:
Shane Marrion
(978) 658-2345
Source:
Wilsonwolfe
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 10:08AM
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 Benoit Real Estate Group,LLC
Investment Insights
Based on property information with market context.
This three-story Victorian Italianate triplex at 13 Howe Street contains three residential units: a three-bedroom, two-bath residence, a one-bedroom, one-bath apartment, and a studio with one bath. The owner’s unit features stainless steel appliances, granite countertops, and maple cabinetry. Cedar siding, replacement windows, two decks, and a fenced yard add to the property’s physical appeal, while a cobblestone driveway provides parking for four vehicles. Built in 1900, the property measures 2636 square feet.
Units 2 and 3 are leased through May and August of 2027, respectively. Unit 1 is scheduled to become available at the end of August, providing an owner-user configuration. The property is two blocks from the Gilman Square Green Line station and the community bike path, with access to Route 93 and Boston nearby.
Units 2 and 3 are leased through May and August of 2027, respectively. Unit 1 is scheduled to become available at the end of August, providing an owner-user configuration. The property is two blocks from the Gilman Square Green Line station and the community bike path, with access to Route 93 and Boston nearby.
Key Highlights
- Three‑unit configuration: 3 bed/2 bath, 1 bed/1 bath, and studio/1 bath
- 2636 SF Victorian Italianate property built in 1900
- Units 2 and 3 leased through May and August of 2027, respectively
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
$55,779
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
4.29%
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%
$1,115,580
$1.1M
Cap Rate 7%
$796,843
$796.8K
Cap Rate 9%
$619,767
$619.8K
Market Conditions
NOI Build-Up for 2,636 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
$83.8K $31.80/SF
− Vacancy
−$4.1K −$1.57/SF
EGI
$79.7K $30.23/SF
− OpEx
−$23.9K −$9.07/SF
NOI
$55.8K $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%
$1,115,580
Cap Rate 7%
$796,843
Cap Rate 9%
$619,767
Alternative Uses
Best Use
Multifamily LT 5
$796.8K
$697.2K – $929.7K
NOI $55,779 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$749.3K
$655.6K – $874.1K
NOI $52,448 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,235 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,034
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units with updated finishes, outdoor space, and convenient transit access support flexible ownership options.
Where is this triplex located?
The property is located at 13 Howe Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Three‑unit configuration: 3 bed/2 bath, 1 bed/1 bath, and studio/1 bath; 2636 SF Victorian Italianate property built in 1900; Units 2 and 3 leased through May and August of 2027, respectively
