Mid-Cambridge Multifamily Renovation
For Sale
$1,399,000
Pending
155 Amory St, Cambridge, MA 02139
Three-story multifamily with rehab potential in prime Mid-Cambridge location.
Property Size2,700 SF
Days on Market119
Property Features for 155 Amory St
General Information
Standard status
Pending
Size
2,700 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$8,729
Building Details
Building Size
2,700 SF
Year Built
1910
Stories
3
Units
3
Listing Agency:
(508) 361-9355
Listed By:
Janet Cook
(508) 361-9355
Source:
Elliman
Added: Apr 26
Changed: Aug 16
Last Checked: Aug 22 at 10:28AM
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 Janet Cook
Investment Insights
Based on property information with market context.
Located in Mid-Cambridge, this three-story multifamily property presents a renovation opportunity for investors and contractors. The building is configured with three 2-bed/1-bath units and one 1-bed/1-bath unit. The units require repairs, updates, and full rehabilitation. There are three gas and three electric meters. The property may offer value-add potential with a fourth-level expansion or roof deck, subject to buyer verification. The property is being sold in as-is condition. The location provides access to Harvard, MIT, Central Square, Harvard Square, and Union Square. The area has strong rental demand and limited inventory. The property has a bike score of 89, indicating it is very bikeable, a walk score of 97, indicating it is a walker's paradise, and a transit score of 85, indicating excellent transit.
Key Highlights
- Prime Mid‑Cambridge location near Inman Square with easy access to Harvard, MIT, Central Square, Harvard Square, and Union Square.
- Strong rental demand area with limited inventory in a desirable Cambridge neighborhood.
- Rare rehab/renovation opportunity for investors and contractors.
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
$63,297
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
4.52%
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%
$1,265,940
$1.3M
Cap Rate 7%
$904,243
$904.2K
Cap Rate 9%
$703,300
$703.3K
Market Conditions
NOI Build-Up for 2,700 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
$119.9K $44.40/SF
− Vacancy
−$4.8K −$1.78/SF
EGI
$115.1K $42.62/SF
− OpEx
−$51.8K −$19.18/SF
NOI
$63.3K $23.44/SF
Area
Cambridge, MA
Vacancy
4.00%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,265,940
Cap Rate 7%
$904,243
Cap Rate 9%
$703,300
Alternative Uses
Best Use
Apartment 5plus
$904.2K
$791.2K – $1.05M
NOI $63,297 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,710 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 02139, MA
39,525
Population
16,930
Households
2.3
Avg Household Size
30
Median Age
78%
College-Educated
94%
High-School Grad
1.6 sq mi
ZIP Area
24,703
Density / Sq Mi
$124,648
Median Household Income
$61,025
Median Earnings
$2,613
Median Rent
$1,066,200
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?
Apartment building - Three-story multifamily with rehab potential in prime Mid-Cambridge location.
Where is this apartment building located?
The property is located at 155 Amory St Cambridge, MA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Prime Mid‑Cambridge location near Inman Square with easy access to Harvard, MIT, Central Square, Harvard Square, and Union Square.; Strong rental demand area with limited inventory in a desirable Cambridge neighborhood.; Rare rehab/renovation opportunity for investors and contractors.
