Renovated 3-Unit
For Sale
$2,100,000
17 Kenneson Rd, Somerville, MA 02145
Three matching apartments offer private laundry, central air conditioning, updated interiors, and shared outdoor space.
Property Size3,821 SF
Price / SF$549.59
Days on Market143
Property Features for 17 Kenneson Rd
General Information
Standard status
Active
Size
3,821 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
RB
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 4BR/1.5BA
Multifamily Units
3
Additional Details
Gross Income
$145,000
Amenities
enclosed porch
central AC
in-unit laundry
hardwood floors
recessed lighting
SS appliances
quartz countertops
shared backyard
City View(s)
No
Yes
Rubber
Public Transportation, Shopping, Pool, Park, Medical Facility, Highway Access, House of Worship, Private School, Public School, T-Station, University
2
Building Details
Building Size
3,821 SF
Year Built
1900
Year Renovated
2017
Buildings
1
Stories
3
Listing Agency:
Cambridge Sage Inc.
Listed By:
Sage Jankowitz
Source:
Reishomesearch
Added: Apr 13
Changed: Aug 29
Last Checked: Apr 22 at 10:59AM
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 Cambridge Sage Inc.
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains 3,821 square feet across three matching apartments, each configured with four bedrooms and 1.5 bathrooms. The units feature enclosed porches, central AC, in-unit laundry, hardwood flooring, recessed lighting, and renovated kitchens with stainless steel appliances and quartz countertops. Electrical, plumbing, and gas heating systems were updated in 2017, and the property was gut-renovated that year.
The property includes two off-street parking spaces and a large shared backyard. Gilman Square Green Line station is 0.4 miles away, with access to Route 93, Assembly Row, Union Square, and Stop & Shop within the surrounding area. The building was originally constructed in 1900.
The property includes two off-street parking spaces and a large shared backyard. Gilman Square Green Line station is 0.4 miles away, with access to Route 93, Assembly Row, Union Square, and Stop & Shop within the surrounding area. The building was originally constructed in 1900.
Key Highlights
- 3,821 square feet across three matching units
- Three 4‑bedroom, 1.5‑bath apartments
- Gut renovation completed in 2017
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
$80,854
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
3.85%
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%
$1,617,080
$1.6M
Cap Rate 7%
$1,155,057
$1.2M
Cap Rate 9%
$898,378
$898.4K
Market Conditions
NOI Build-Up for 3,821 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
$121.5K $31.80/SF
− Vacancy
−$6.0K −$1.57/SF
EGI
$115.5K $30.23/SF
− OpEx
−$34.7K −$9.07/SF
NOI
$80.9K $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%
$1,617,080
Cap Rate 7%
$1,155,057
Cap Rate 9%
$898,378
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.01M – $1.35M
NOI $80,854 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$1.09M
$950.3K – $1.27M
NOI $76,025 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,341 @ 7.0% cap · market cap 7.54%
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
1,617
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three matching apartments offer private laundry, central air conditioning, updated interiors, and shared outdoor space.
Where is this triplex located?
The property is located at 17 Kenneson Rd Somerville, MA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 3,821 square feet across three matching units; Three 4‑bedroom, 1.5‑bath apartments; Gut renovation completed in 2017
