Updated Two-Unit
For Sale
$1,595,000
34 Summer Street, Somerville, MA 02143
Two residential units feature hardwood floors, renovated kitchens, and distinct living configurations.
Property Size3,341 SF
Price / SF$477.40
Days on Market158
Property Features for 34 Summer Street
General Information
Standard status
Active
Size
3,341 SF
Total Parking Spaces
3
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Net Operating Income
$108,240
Units
Unit Mix
1 x 3BR/2BA, 1 x 5BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$108,240
Taxes and HOA fees
Annual Taxes
$12,269
Amenities
No
Hardwood, Other
Range, Disposal, Microwave, Refrigerator, Freezer, Washer, Dryer, Dishwasher
1
Yes
3.0
Full
Bathroom With Tub, Living Room, Kitchen, Dining Room, Window AC
3
3.00
Stone
Shingle
Level
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Coldwell Banker Realty - Cambridge
(617) 864-4430
Listed By:
Nathan Long · License #9579073
(617) 864-4430
Source:
Compass
Added: Mar 26
Changed: Aug 29
Last Checked: Aug 29 at 9:25PM
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 = 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
$70,697
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
4.43%
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%
$1,413,940
$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
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
$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 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%
$1,413,940
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 4.43%
Second Best
Apartment 5plus
$949.6K
$830.9K – $1.11M
NOI $66,475 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,450 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Two residential units feature hardwood floors, renovated kitchens, and distinct living configurations.
Where is this duplex located?
The property is located at 34 Summer Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,595,000.
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
