Multifamily Residential Income
For Sale
$850,000
3 Lincoln Pl, Somerville, MA 02145
Multi-family home offered for sale near Sullivan Station, ready for renovation and potential updates, subject to approvals.
Property Size1,609 SF
Price / SF$528.28
Days on Market51
Property Features for 3 Lincoln Pl
General Information
Standard status
Active
Size
1,609 SF
Property subtype
Multi Family
Building Details
Year Built
1900
Listing Agency:
Kaverns
(781) 630-1401
Listed By:
Alessandro Colarusso
(781) 858-5098
Source:
Lockandkeyre
Added: Jul 17
Changed: Sep 4
Last Checked: Sep 5 at 6:28AM
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 Kaverns
Investment Insights
Based on property information with market context.
This multi-family residential income property is offered for sale and is described as ready for the right buyer to renovate and update. The home presents an opportunity to refresh the existing improvements and explore additional possibilities, including the potential to add another unit, subject to local approvals.
The property is located at 3 Lincoln Pl in Somerville, MA, just a few blocks from Sullivan Station, which can be an important consideration for tenants seeking nearby transit access.
With its existing multi-family configuration and renovation-oriented positioning, the property may appeal to buyers looking for a hands-on project within a transit-adjacent setting.
The property is located at 3 Lincoln Pl in Somerville, MA, just a few blocks from Sullivan Station, which can be an important consideration for tenants seeking nearby transit access.
With its existing multi-family configuration and renovation-oriented positioning, the property may appeal to buyers looking for a hands-on project within a transit-adjacent setting.
Key Highlights
- Multi‑family home built in 1900
- Located just a few blocks from Sullivan Station
- Offered for sale as a renovation/update project
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
$34,047
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%
$680,940
$680.9K
Cap Rate 7%
$486,386
$486.4K
Cap Rate 9%
$378,300
$378.3K
Market Conditions
NOI Build-Up for 1,609 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
$51.2K $31.80/SF
− Vacancy
−$2.5K −$1.57/SF
EGI
$48.6K $30.23/SF
− OpEx
−$14.6K −$9.07/SF
NOI
$34.0K $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%
$680,940
Cap Rate 7%
$486,386
Cap Rate 9%
$378,300
Alternative Uses
Best Use
Multifamily LT 5
$486.4K
$425.6K – $567.5K
NOI $34,047 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$457.3K
$400.2K – $533.6K
NOI $32,014 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$952.5K
$833.5K – $1.11M
NOI $66,677 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,924
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 - Multi-family home offered for sale near Sullivan Station, ready for renovation and potential updates, subject to approvals.
Where is this duplex located?
The property is located at 3 Lincoln Pl Somerville, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Multi‑family home built in 1900; Located just a few blocks from Sullivan Station; Offered for sale as a renovation/update project
