Somerville Two-Family Home Near
232 Pearl Street Somerville, MA 02145
For Sale
$1,099,000
Two-family home near Magoun Square and the new Green Line.
Property Size1,952 SF
Price / SF$563.01
Days on Market578
Property Features for 232 Pearl Street
General Information
- Standard status
- Active
- Size
- 1,952 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1905
Listing Agency:
Cameron Real Estate Group
Listed By:
Arlindo Neto
Source:
Stevebremis
Added: Dec 23, 2024
Changed: Jul 10
Last Checked: Jul 23 at 9:08AM
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 Cameron Real Estate Group
Investment Insights
Based on property information with market context.
Located on Pearl Street in Somerville, Massachusetts, this two-family home offers proximity to Magoun Square, dining, bars, and a bike path. It is also situated steps from the new Green Line. Unit 1, located on the first floor, features three rooms including one bedroom, one bathroom, a living room, and a kitchen. Unit 2, on the second floor, includes six rooms with three bedrooms, one bathroom, a kitchen, a dining room, and a living room. The property provides off-street parking for up to three cars. The total property size is 1952 square feet.
Key Highlights
- Prime location: Steps from the new Green Line, Magoun Square, dining, bars, and bike path.
- Two‑family home: Ideal for owner‑occupancy with rental income potential.
- Three off‑street parking spaces: A valuable amenity in Somerville.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.1k | $31.80 |
| − Vacancy | −$3.1k | −$1.57 |
| EGI | $59.0k | $30.23 |
| − OpEx | −$17.7k | −$9.07 |
| NOI | $41.3k | $21.16 |
1,952 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$590.1K
$516.3K – $688.4K
NOI $41,305 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$554.8K
$485.5K – $647.3K
NOI $38,838 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,890 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-family home near Magoun Square and the new Green Line.
Where is this duplex located?
The property is located at 232 Pearl Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Prime location: Steps from the new Green Line, Magoun Square, dining, bars, and bike path.; Two‑family home: Ideal for owner‑occupancy with rental income potential.; Three off‑street parking spaces: A valuable amenity in Somerville.
