Victorian Triplex with Owner’s
New
For Sale
$1,599,900
34 Central St, Somerville, MA 02143
The upper-level residence spans two floors and includes four bedrooms and four bathrooms.
Property Size2,631 SF
Days on Market3
Property Features for 34 Central St
General Information
Standard status
Active
Size
2,631 SF
Total Parking Spaces
5
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$14,311
Building Details
Building Size
2,631 SF
Year Built
1900
Listing Agency:
Steve Bremis Realty Group
Listed By:
The Steve Bremis Team
(617) 828-1070
Source:
Classifiedrealtygroup
Added: Sep 29
Last Checked: Oct 1 at 8:43AM
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 Steve Bremis Realty Group
Investment Insights
Based on property information with market context.
Built in 1900 and listed on the Historical Register, this three-unit Victorian property combines a two-level, four-bedroom, four-bathroom owner’s residence on the upper floors with two first-floor apartments. Each apartment has one bedroom and three rooms, and both leases run through August 31, 2027. Period features include stained glass, hardwood floors, a bay-window seating area, and a front porch with Grecian columns. The property also has basement space with approximately 8-foot ceilings, a garage, and parking for three cars. The exterior was painted and the roof replaced in 2024.
The property is in Somerville’s Spring Hill neighborhood, with a Walk Score of 91, Bike Score of 83, and Transit Score of 85. The Green Line is one-half mile away, and the Red Line is less than one mile away.
The property is in Somerville’s Spring Hill neighborhood, with a Walk Score of 91, Bike Score of 83, and Transit Score of 85. The Green Line is one-half mile away, and the Red Line is less than one mile away.
Key Highlights
- Three‑unit Victorian property built in 1900 and listed on the Historical Register
- Upper‑level owner’s residence spans two floors, with 4 bedrooms and 4 bathrooms
- Two first‑floor apartments, each with 1 bedroom and 3 rooms; leases run through 8/31/27
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
$55,673
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
3.48%
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%
$1,113,460
$1.1M
Cap Rate 7%
$795,329
$795.3K
Cap Rate 9%
$618,589
$618.6K
Market Conditions
NOI Build-Up for 2,631 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
$83.7K $31.80/SF
− Vacancy
−$4.1K −$1.57/SF
EGI
$79.5K $30.23/SF
− OpEx
−$23.9K −$9.07/SF
NOI
$55.7K $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%
$1,113,460
Cap Rate 7%
$795,329
Cap Rate 9%
$618,589
Alternative Uses
Best Use
Multifamily LT 5
$795.3K
$695.9K – $927.9K
NOI $55,673 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$747.8K
$654.4K – $872.5K
NOI $52,348 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,028 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,379
Businesses Nearby
Explore this area
Business Placement
Demographics for 02143, MA
26,022
Population
12,901
Households
2
Avg Household Size
33
Median Age
74%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
17,348
Density / Sq Mi
$126,102
Median Household Income
$73,055
Median Earnings
$2,424
Median Rent
$930,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - The upper-level residence spans two floors and includes four bedrooms and four bathrooms.
Where is this triplex located?
The property is located at 34 Central St Somerville, MA.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: Three‑unit Victorian property built in 1900 and listed on the Historical Register; Upper‑level owner’s residence spans two floors, with 4 bedrooms and 4 bathrooms; Two first‑floor apartments, each with 1 bedroom and 3 rooms; leases run through 8/31/27
