Triplex with Two-Car
246 School Street, Somerville, MA 02145
For Sale
$1,749,000
This three-family property in Winter Hill combines a garage with driveway parking.
Property Size4,261 SF
Price / SF$410.47
Days on Market14
Property Features for 246 School Street
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Public Transit
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
Berkshire Hathaway HomeServices Verani Realty
Listed By:
Jack Lister
(617) 438-2460
Source:
Stevebremis
Added: Oct 26
Changed: Nov 7
Last Checked: Nov 7 at 2:25PM
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 Berkshire Hathaway HomeServices Verani Realty
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Investment Insights
Based on property information with market context.
Built in 1900, this Somerville triplex offers approximately 4,261 square feet of living space, a two-car garage and a long driveway for off-street parking.
The property is near Davis Square, Tufts University and the Gilman Square Green Line station. Magoun Square’s shops, cafés and restaurants are a seven-minute walk away, and Route 93 provides a connection for regional travel.
The property is near Davis Square, Tufts University and the Gilman Square Green Line station. Magoun Square’s shops, cafés and restaurants are a seven-minute walk away, and Route 93 provides a connection for regional travel.
Key Highlights
- Approximately 4,261 square feet of living space
- Two‑car garage and long driveway for off‑street parking
- Seven‑minute walk to Magoun Square shops, cafés and restaurants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,164
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,803,280
$1.8M
Cap Rate 7%
$1,288,057
$1.3M
Cap Rate 9%
$1,001,822
$1.0M
Market Conditions
NOI Build-Up for 4,261 SF
Gross rent
$135.5K $31.80/SF
− Vacancy
−$6.7K −$1.57/SF
EGI
$128.8K $30.23/SF
− OpEx
−$38.6K −$9.07/SF
NOI
$90.2K $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 Rate 5%
$1,803,280
Cap Rate 7%
$1,288,057
Cap Rate 9%
$1,001,822
Alternative Uses
Best Use
Multifamily LT 5
$1.29M
$1.13M – $1.50M
NOI $90,164 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,780 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,575 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,612
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
$784,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Somerville, MA
Properties on Market for Triplexes in Somerville
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - This three-family property in Winter Hill combines a garage with driveway parking.
Where is this triplex located?
The property is located at 246 School Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: Approximately 4,261 square feet of living space; Two‑car garage and long driveway for off‑street parking; Seven‑minute walk to Magoun Square shops, cafés and restaurants
