Two-Family Residential Income
For Sale
$749,900
138 - 140 Berube Avenue, Somerset, MA 02726
Impeccably maintained two-family home with two units, central air, and in-unit laundry features.
Property Size2,724 SF
Price / SF$275.29
Days on Market96
Property Features for 138 - 140 Berube Avenue
General Information
Standard status
Active
Size
2,724 SF
Property subtype
Multi-family
Building Details
Year Built
1947
Listing Agency:
Keller Williams South Watuppa
(508) 677-3233
Listed By:
Cindy Ferry · License #9067567
(603) 352-5533
Source:
Hgjohnsonrealestate
Added: May 21
Changed: Aug 24
Last Checked: Aug 21 at 6:13AM
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 Keller Williams South Watuppa
Investment Insights
Based on property information with market context.
This impeccably maintained two-family home offers two separate residences, each with central air. The first-floor unit features three bedrooms, two full baths, an open floor plan, an enclosed porch, and a chef’s kitchen with stainless steel appliances, abundant cabinetry, and a stone fireplace anchoring the living area. The second unit offers one to two bedrooms, an open floor plan, a private entrance, an outdoor deck and patio, and in-unit laundry.
Outside, the property includes beautifully landscaped grounds, a two-car garage, and additional side parking. The home is described as located on a quiet dead-end street, conveniently near shopping, dining, schools, and major highways. Both units have been deleaded.
Overall, the layout provides a practical setup for occupants seeking separate entrances and functional indoor/outdoor living space while maintaining a single, turnkey property.
Outside, the property includes beautifully landscaped grounds, a two-car garage, and additional side parking. The home is described as located on a quiet dead-end street, conveniently near shopping, dining, schools, and major highways. Both units have been deleaded.
Overall, the layout provides a practical setup for occupants seeking separate entrances and functional indoor/outdoor living space while maintaining a single, turnkey property.
Key Highlights
- 1947‑built two‑family home featuring two separate units with central air
- First‑floor unit: 3 bedrooms, 2 full baths, open floor plan, enclosed porch, and chef’s kitchen with stainless appliances
- First‑floor kitchen includes a pot filler, beverage cooler, abundant cabinetry, and a stone fireplace in the living area
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
$48,681
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
6.49%
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%
$973,620
$973.6K
Cap Rate 7%
$695,443
$695.4K
Cap Rate 9%
$540,900
$540.9K
Market Conditions
NOI Build-Up for 2,724 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
$75.2K $27.60/SF
− Vacancy
−$5.6K −$2.07/SF
EGI
$69.5K $25.53/SF
− OpEx
−$20.9K −$7.66/SF
NOI
$48.7K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /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%
$973,620
Cap Rate 7%
$695,443
Cap Rate 9%
$540,900
Alternative Uses
Best Use
Multifamily LT 5
$695.4K
$608.5K – $811.4K
NOI $48,681 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$646.3K
$565.5K – $754.0K
NOI $45,241 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,121 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 02726, MA
15,671
Population
6,719
Households
2.3
Avg Household Size
46
Median Age
37%
College-Educated
93%
High-School Grad
5.5 sq mi
ZIP Area
2,849
Density / Sq Mi
$110,427
Median Household Income
$65,106
Median Earnings
$1,316
Median Rent
$389,300
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 - Impeccably maintained two-family home with two units, central air, and in-unit laundry features.
Where is this duplex located?
The property is located at 138 - 140 Berube Avenue Somerset, MA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 1947‑built two‑family home featuring two separate units with central air; First‑floor unit: 3 bedrooms, 2 full baths, open floor plan, enclosed porch, and chef’s kitchen with stainless appliances; First‑floor kitchen includes a pot filler, beverage cooler, abundant cabinetry, and a stone fireplace in the living area
