Triplex with Separate
For Sale
$1,629,900
20 Harding St., Cambridge, MA 02141
Three-unit residential property with separate heating and electric systems, current leases, and updated exterior components.
Property Size2,496 SF
Price / SF$653
Days on Market167
Property Features for 20 Harding St.
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Multi-Family
Zoning
C-1
Net Operating Income
$84,000
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,413
Amenities
Views
Building Details
Building Size
2,496 SF
Year Built
1894
Stories
3
Listing Agency:
REMAX Executive Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 19
Changed: Aug 31
Last Checked: Aug 31 at 1:07PM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This 2,496-square-foot triplex was built in 1894 and includes separate heating and electric systems. The exterior has new vinyl siding, while the rubber roof is described as being in very good condition. Existing leases are in place across the property. Zoned C-1, the building is located at 20 Harding St. in Cambridge’s East Cambridge neighborhood.
The property is near the Green Line T stops at Union Square and Lechmere, with schools, shopping, a public library, restaurants, and boutique shops in the surrounding area. Harvard and MIT are also identified as nearby destinations.
The property is near the Green Line T stops at Union Square and Lechmere, with schools, shopping, a public library, restaurants, and boutique shops in the surrounding area. Harvard and MIT are also identified as nearby destinations.
Key Highlights
- 2,496‑square‑foot triplex built in 1894
- C‑1 zoning in East Cambridge
- Separate heating and electric systems
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
$62,610
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
3.84%
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%
$1,252,200
$1.3M
Cap Rate 7%
$894,429
$894.4K
Cap Rate 9%
$695,667
$695.7K
Market Conditions
NOI Build-Up for 2,496 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
$94.3K $37.80/SF
− Vacancy
−$4.9K −$1.97/SF
EGI
$89.4K $35.83/SF
− OpEx
−$26.8K −$10.75/SF
NOI
$62.6K $25.08/SF
Area
Cambridge, MA
Vacancy
5.20%
Lease Rate
$37.80 /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%
$1,252,200
Cap Rate 7%
$894,429
Cap Rate 9%
$695,667
Alternative Uses
Best Use
Multifamily LT 5
$894.4K
$782.6K – $1.04M
NOI $62,610 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$835.9K
$731.4K – $975.2K
NOI $58,514 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$1.92M
$1.68M – $2.25M
NOI $134,701 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,412
Businesses Nearby
Explore this area
Business Placement
Demographics for 02141, MA
15,130
Population
8,128
Households
1.9
Avg Household Size
32
Median Age
74%
College-Educated
94%
High-School Grad
0.6 sq mi
ZIP Area
25,217
Density / Sq Mi
$120,542
Median Household Income
$73,002
Median Earnings
$2,752
Median Rent
$892,600
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-unit residential property with separate heating and electric systems, current leases, and updated exterior components.
Where is this triplex located?
The property is located at 20 Harding St. Cambridge, MA.
What is the asking price?
The asking price for this property is $1,629,900.
What are key features of this property?
This property features: 2,496‑square‑foot triplex built in 1894; C‑1 zoning in East Cambridge; Separate heating and electric systems
