Duplex with Off-Street
303 Alewife Brook Pkwy, Somerville, MA 02144
For Sale
New
$1,200,000
Both residences include laundry hookups, with parking available off the street.
Property Size2,204 SF
Price / SF$544.46
Days on Market4
Property Features for 303 Alewife Brook Pkwy
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
separate laundry hookups
Building Details
Building Size
Year Built
Stories
Listing Agency:
LAER Realty Partners
Listed By:
Marie White
Source:
Laerrealty
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 6 at 5:42AM
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 LAER Realty Partners
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,204 square feet and was built in 1920. Each residence has its own laundry hookups, and the property includes off-street parking. The zoning designation is NR.
The property is in Somerville, near Tufts University, the Alewife Greenway, parks, restaurants, shopping, public transportation, and major commuter routes. Its address is 303 Alewife Brook Pkwy.
The property is in Somerville, near Tufts University, the Alewife Greenway, parks, restaurants, shopping, public transportation, and major commuter routes. Its address is 303 Alewife Brook Pkwy.
Key Highlights
- Two‑unit duplex totaling 2,204 square feet
- Built in 1920
- Laundry hookups in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,637
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$932,740
$932.7K
Cap Rate 7%
$666,243
$666.2K
Cap Rate 9%
$518,189
$518.2K
Market Conditions
NOI Build-Up for 2,204 SF
Gross rent
$70.1K $31.80/SF
− Vacancy
−$3.5K −$1.57/SF
EGI
$66.6K $30.23/SF
− OpEx
−$20.0K −$9.07/SF
NOI
$46.6K $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 Rate 5%
$932,740
Cap Rate 7%
$666,243
Cap Rate 9%
$518,189
Alternative Uses
Best Use
Multifamily LT 5
$666.2K
$583.0K – $777.3K
NOI $46,637 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$626.5K
$548.2K – $730.9K
NOI $43,852 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,333 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,150
Businesses Nearby
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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
$987,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Somerville, MA
Properties on Market for Duplexes in Somerville
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include laundry hookups, with parking available off the street.
Where is this duplex located?
The property is located at 303 Alewife Brook Pkwy Somerville, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,204 square feet; Built in 1920; Laundry hookups in both units
