Duplex with Updated
New
For Sale
$1,499,000
166 Albion St, Somerville, MA 02144
Both residences include hardwood floors, high ceilings, and updated kitchens and bathrooms.
Property Size2,530 SF
Days on Market6
Property Features for 166 Albion St
General Information
Standard status
Active
Size
2,530 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,475
Amenities
hardwood floors
updated kitchens and baths
high ceilings
Building Details
Building Size
2,530 SF
Year Built
1910
Listing Agency:
Block Realty
Listed By:
AD Advisors Team
(617) 505-3324
Source:
Donnellyandco
Added: Sep 22
Changed: Sep 27
Last Checked: Sep 26 at 2:15PM
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 Block Realty
Investment Insights
Based on property information with market context.
This 1910 duplex contains two residences with hardwood flooring, high ceilings, and updated kitchens and bathrooms. The property is zoned NR, and its reported occupancy history spans more than a decade with no vacancy noted.
At 166 Albion St in Somerville, the property is positioned between Davis Square, Porter Square, and Magoun Square, with multiple MBTA stops nearby. Long-term tenants follow a September 1 leasing cycle.
At 166 Albion St in Somerville, the property is positioned between Davis Square, Porter Square, and Magoun Square, with multiple MBTA stops nearby. Long-term tenants follow a September 1 leasing cycle.
Key Highlights
- Two residences in a 1910 duplex
- 2,530 property size
- Hardwood floors, high ceilings, and updated kitchens and bathrooms in both residences
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
$53,536
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
3.57%
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%
$1,070,720
$1.1M
Cap Rate 7%
$764,800
$764.8K
Cap Rate 9%
$594,844
$594.8K
Market Conditions
NOI Build-Up for 2,530 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
$80.5K $31.80/SF
− Vacancy
−$4.0K −$1.57/SF
EGI
$76.5K $30.23/SF
− OpEx
−$22.9K −$9.07/SF
NOI
$53.5K $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%
$1,070,720
Cap Rate 7%
$764,800
Cap Rate 9%
$594,844
Alternative Uses
Best Use
Multifamily LT 5
$764.8K
$669.2K – $892.3K
NOI $53,536 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$719.1K
$629.2K – $839.0K
NOI $50,338 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,843 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,432
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Both residences include hardwood floors, high ceilings, and updated kitchens and bathrooms.
Where is this duplex located?
The property is located at 166 Albion St Somerville, MA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Two residences in a 1910 duplex; 2,530 property size; Hardwood floors, high ceilings, and updated kitchens and bathrooms in both residences
