Two-Unit Multifamily
New
For Sale
$1,800,000
22-24 Fountain Avenue, Somerville, MA 02145
Recently built duplex with separate multi-level residences, finished lower levels, and tandem off-street parking.
Property Size3,807 SF
Price / SF$472.81
Days on Market3
Property Features for 22-24 Fountain Avenue
General Information
Standard status
Active
Size
3,807 SF
Total Parking Spaces
2
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/3.5BA, 1 x 3BR/3.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,405
Building Details
Building Size
3,807 SF
Year Built
2021
Buildings
1
Stories
3
Listing Agency:
Century 21 Mario Real Estate
(617) 569-6044
Listed By:
Thomas Mario · License #9517545
Source:
Classifiedrealtygroup
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 2:08PM
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 Century 21 Mario Real Estate
Investment Insights
Based on property information with market context.
Built in 2021, this duplex contains 3,807 total finished square feet arranged across three levels, including finished lower levels. The property has five bedrooms, six full bathrooms, and two half bathrooms, with each residence offering a multi-level configuration. Unit 1 includes two bedrooms, three and one-half bathrooms, an office or den, and living and dining areas. Unit 2 is arranged as a three-bedroom, three and one-half bathroom townhome with additional flex space.
Two-car tandem parking is provided off street. The property is located at 22-24 Fountain Avenue in Somerville, near the Green Line Extension, Assembly Row, Route 28, I-93, and downtown Boston.
Two-car tandem parking is provided off street. The property is located at 22-24 Fountain Avenue in Somerville, near the Green Line Extension, Assembly Row, Route 28, I-93, and downtown Boston.
Key Highlights
- 3,807 total finished sq. ft. across 3 levels
- Two residences with 5 bedrooms, 6 full bathrooms, and 2 half bathrooms
- Unit 1 includes 2 bedrooms, 3.5 baths, and an office/den
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
$80,557
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
4.48%
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%
$1,611,140
$1.6M
Cap Rate 7%
$1,150,814
$1.2M
Cap Rate 9%
$895,078
$895.1K
Market Conditions
NOI Build-Up for 3,807 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
$121.1K $31.80/SF
− Vacancy
−$6.0K −$1.57/SF
EGI
$115.1K $30.23/SF
− OpEx
−$34.5K −$9.07/SF
NOI
$80.6K $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%
$1,611,140
Cap Rate 7%
$1,150,814
Cap Rate 9%
$895,078
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.01M – $1.34M
NOI $80,557 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$1.08M
$946.8K – $1.26M
NOI $75,746 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,761 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,265
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?
Duplex - Recently built duplex with separate multi-level residences, finished lower levels, and tandem off-street parking.
Where is this duplex located?
The property is located at 22-24 Fountain Avenue Somerville, MA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 3,807 total finished sq. ft. across 3 levels; Two residences with 5 bedrooms, 6 full bathrooms, and 2 half bathrooms; Unit 1 includes 2 bedrooms, 3.5 baths, and an office/den
