Two-Unit Duplex with Enclosed
New
For Sale
$1,298,000
283 Alewife Brook Pkwy, Somerville, MA 02144
Both residences are leased and feature updated kitchens and hardwood floors.
Property Size2,458 SF
Price / SF$528.07
Days on Market5
Property Features for 283 Alewife Brook Pkwy
General Information
Standard status
Active
Size
2,458 SF
Property subtype
2 Family - 2 Units Up/Down
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,539
Amenities
basement laundry
shared backyard
private/enclosed porch
Building Details
Building Size
2,458 SF
Year Built
1920
Listing Agency:
Centre Realty Group
Listed By:
John Saleh · License #9503072
(617) 332-0077
Source:
Madelyngarciarealestate
Added: Sep 23
Changed: Sep 27
Last Checked: Sep 26 at 2:09PM
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 Centre Realty Group
Investment Insights
Based on property information with market context.
This two-family property contains 2,458 square feet of living space and was built in 1920. The two residences offer 4+ bedrooms, living and dining areas, updated kitchens, hardwood floors, and enclosed porch space. Basement laundry, driveway parking, and a shared backyard round out the property’s features.
At 283 Alewife Brook Parkway in Somerville, the property sits directly across from Dilboy Field and is minutes from Tufts University. Both units are currently leased.
At 283 Alewife Brook Parkway in Somerville, the property sits directly across from Dilboy Field and is minutes from Tufts University. Both units are currently leased.
Key Highlights
- Two‑family property with 2,458 SF of living space
- Both units are leased
- 4+ bedrooms across two residences
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
$52,012
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
4.01%
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%
$1,040,240
$1.0M
Cap Rate 7%
$743,029
$743.0K
Cap Rate 9%
$577,911
$577.9K
Market Conditions
NOI Build-Up for 2,458 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
$78.2K $31.80/SF
− Vacancy
−$3.9K −$1.57/SF
EGI
$74.3K $30.23/SF
− OpEx
−$22.3K −$9.07/SF
NOI
$52.0K $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%
$1,040,240
Cap Rate 7%
$743,029
Cap Rate 9%
$577,911
Alternative Uses
Best Use
Multifamily LT 5
$743.0K
$650.2K – $866.9K
NOI $52,012 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$698.7K
$611.3K – $815.1K
NOI $48,906 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,859 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,150
Businesses Nearby
Explore this area
Business Placement
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - Both residences are leased and feature updated kitchens and hardwood floors.
Where is this duplex located?
The property is located at 283 Alewife Brook Pkwy Somerville, MA.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: Two‑family property with 2,458 SF of living space; Both units are leased; 4+ bedrooms across two residences
