Two-Family Residential Income
For Sale
$1,299,999
32 Rush St, Somerville, MA 02145
Expansive two-unit home with paved parking, mostly finished basement, and multi-level living configurations.
Property Size3,855 SF
Price / SF$337.22
Days on Market125
Property Features for 32 Rush St
General Information
Standard status
Active
Size
3,855 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
RB
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,028
Building Details
Building Size
3,855 SF
Year Built
1900
Stories
4
Listing Agency:
Prestige Realty Experts Inc.
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 5
Changed: Sep 6
Last Checked: Sep 6 at 4:27AM
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 Prestige Realty Experts Inc.
Investment Insights
Based on property information with market context.
This expansive two-family residence is configured as two separate units with additional flexible space in the basement. The first-floor unit includes a formal living and dining room and three bedrooms. The second unit spans two levels and features a large living room, a generous kitchen, four bedrooms, and a bonus room on the second level that could be converted into an additional bedroom. A mostly finished basement provides further flexibility, including a kitchenette area that could potentially be upgraded for use as a third unit, though the property may require some cosmetic updates.
The home offers paved parking and a spacious backyard. Public remarks indicate easy access to I-93, local shops, and Assembly Square.
Overall, the layout supports a conventional two-family setup with meaningful additional space that can be tailored within the existing footprint.
The home offers paved parking and a spacious backyard. Public remarks indicate easy access to I-93, local shops, and Assembly Square.
Overall, the layout supports a conventional two-family setup with meaningful additional space that can be tailored within the existing footprint.
Key Highlights
- Two‑family home built in 1900 with paved parking and a spacious backyard.
- First‑floor unit features a formal living and dining room and three bedrooms.
- Second unit spans two levels with a large living room, generous kitchen, and four bedrooms.
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
$81,573
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
6.27%
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%
$1,631,460
$1.6M
Cap Rate 7%
$1,165,329
$1.2M
Cap Rate 9%
$906,367
$906.4K
Market Conditions
NOI Build-Up for 3,855 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
$122.6K $31.80/SF
− Vacancy
−$6.1K −$1.57/SF
EGI
$116.5K $30.23/SF
− OpEx
−$35.0K −$9.07/SF
NOI
$81.6K $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 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%
$1,631,460
Cap Rate 7%
$1,165,329
Cap Rate 9%
$906,367
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.36M
NOI $81,573 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$1.10M
$958.8K – $1.28M
NOI $76,701 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$2.28M
$2.00M – $2.66M
NOI $159,750 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,293
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 - Expansive two-unit home with paved parking, mostly finished basement, and multi-level living configurations.
Where is this duplex located?
The property is located at 32 Rush St Somerville, MA.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: Two‑family home built in 1900 with paved parking and a spacious backyard.; First‑floor unit features a formal living and dining room and three bedrooms.; Second unit spans two levels with a large living room, generous kitchen, and four bedrooms.
