Updated Two-Unit
For Sale
$1,549,000
34 Summer St, Somerville, MA 02143
Two residential units feature hardwood floors, renovated kitchens, and distinct living configurations.
Property Size3,341 SF
Price / SF$463.63
Days on Market202
Property Features for 34 Summer St
General Information
Standard status
Active
Size
3,341 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 5BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$108,240
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Coldwell Banker Realty - Cambridge
Listed By:
Nathan Long · License #9579073
(617) 821-5889
Source:
Livianhomesct
Added: Mar 27
Changed: Oct 3
Last Checked: Oct 7 at 2:56PM
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 Coldwell Banker Realty - Cambridge
Investment Insights
Based on property information with market context.
This two-unit duplex at 34 Summer Street contains 3,341 square feet and was built in 1900. Both residences include hardwood flooring, renovated kitchens, natural light, and separate living, dining, and kitchen areas. Unit 1 occupies the first floor and lower level, with 1,128 square feet on the main level and 764 square feet below; it is configured as 3 bedrooms and 2 bathrooms. Unit 2 spans the second and third floors, offering 1,110 square feet on the second floor and 339 square feet on the third, with a current layout of 5 bedrooms and 1 bathroom.
Three tandem parking spaces are available for Unit 1 tenants. The property is located in Somerville near Bow Market and Union Square, placing both units within close walking distance of those destinations.
Three tandem parking spaces are available for Unit 1 tenants. The property is located in Somerville near Bow Market and Union Square, placing both units within close walking distance of those destinations.
Key Highlights
- Two‑unit duplex at 34 Summer Street, built in 1900
- 3,341 square feet across two residential units
- Unit 1: 3 bedrooms, 2 bathrooms, 1,128 SF main level and 764 SF lower level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,697
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,413,940
$1.4M
Cap Rate 7%
$1,009,957
$1.0M
Cap Rate 9%
$785,522
$785.5K
Market Conditions
NOI Build-Up for 3,341 SF
Gross rent
$106.2K $31.80/SF
− Vacancy
−$5.2K −$1.57/SF
EGI
$101.0K $30.23/SF
− OpEx
−$30.3K −$9.07/SF
NOI
$70.7K $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 Rate 5%
$1,413,940
Cap Rate 7%
$1,009,957
Cap Rate 9%
$785,522
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$883.7K – $1.18M
NOI $70,697 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$949.6K
$830.9K – $1.11M
NOI $66,475 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,450 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,250
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?
Duplex - Two residential units feature hardwood floors, renovated kitchens, and distinct living configurations.
Where is this duplex located?
The property is located at 34 Summer St Somerville, MA.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: Two‑unit duplex at 34 Summer Street, built in 1900; 3,341 square feet across two residential units; Unit 1: 3 bedrooms, 2 bathrooms, 1,128 SF main level and 764 SF lower level
