East Somerville Two-Family
For Sale
$925,000
34 Franklin Ave, Somerville, MA 02145
Two-family home near the new green line T stop.
Property Size2,176 SF
Price / SF$425.09
Days on Market123
Property Features for 34 Franklin Ave
General Information
Standard status
Active
Size
2,176 SF
Property subtype
Multi Family Home
Zoning
NR
Taxes and HOA fees
Annual Taxes
$7,606
Building Details
Building Size
2,176 SF
Year Built
1900
Stories
3
Units
2
Listing Agency:
LAER Realty Partners
(603) 731-7228
Listed By:
Dana Ford
(603) 731-7228
Source:
Athomeboston
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 23 at 7:18AM
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
Investment Insights
Based on property information with market context.
Located in the East Somerville neighborhood, this two-family home is near the new green line T stop. The property is described as being in great condition and has been under the same family's ownership for decades. The second-floor unit features a townhouse-style layout spanning two floors. The building includes a full basement and separate utilities. The location is considered very bikeable with a bike score of 86, a walker's paradise with a walk score of 91, and has excellent transit with a transit score of 72.
Key Highlights
- Prime location near the new Green Line T stop, offering excellent transit options.
- Two‑family home in great condition, ideal for owner‑occupancy or investment.
- The second‑floor unit is a townhouse style, providing ample living space.
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
$46,045
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
4.98%
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%
$920,900
$920.9K
Cap Rate 7%
$657,786
$657.8K
Cap Rate 9%
$511,611
$511.6K
Market Conditions
NOI Build-Up for 2,176 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
$69.2K $31.80/SF
− Vacancy
−$3.4K −$1.57/SF
EGI
$65.8K $30.23/SF
− OpEx
−$19.7K −$9.07/SF
NOI
$46.0K $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%
$920,900
Cap Rate 7%
$657,786
Cap Rate 9%
$511,611
Alternative Uses
Best Use
Multifamily LT 5
$657.8K
$575.6K – $767.4K
NOI $46,045 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$618.5K
$541.2K – $721.6K
NOI $43,295 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,173 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,795
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home near the new green line T stop.
Where is this duplex located?
The property is located at 34 Franklin Ave Somerville, MA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Prime location near the new Green Line T stop, offering excellent transit options.; Two‑family home in great condition, ideal for owner‑occupancy or investment.; The second‑floor unit is a townhouse style, providing ample living space.
