Duplex With Owned Solar
For Sale
$1,249,000
35 Franklin Ave, Somerville, MA 02145
Two-unit property with off-street parking, enclosed outdoor space, and convenient access to public transportation.
Property Size2,148 SF
Days on Market11
Property Features for 35 Franklin Ave
General Information
Standard status
Active
Size
2,148 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,591
Amenities
solar panels
fully enclosed backyard
Building Details
Building Size
2,148 SF
Year Built
1890
Listing Agency:
Keller Williams Realty Boston Northwest
(617) 304-3686
Listed By:
Paul B. Campano
Source:
Downtownbostonrealty
Added: Aug 14
Changed: Aug 24
Last Checked: Aug 23 at 10:47AM
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 Keller Williams Realty Boston Northwest
Investment Insights
Based on property information with market context.
This duplex includes two residential units, with the upper unit currently serving as the owner’s residence. The interiors have received updates over time, and the property includes off-street parking, owned solar panels, and a fully enclosed backyard measuring 1350sqft+.
Situated at 35 Franklin Ave in Somerville, the home occupies a side-street setting with access to public transportation near both the Orange and Green lines. Highway access is also available. WalkScore and bikeScore are each 84, while transitScore is 67.
Situated at 35 Franklin Ave in Somerville, the home occupies a side-street setting with access to public transportation near both the Orange and Green lines. Highway access is also available. WalkScore and bikeScore are each 84, while transitScore is 67.
Key Highlights
- Two‑unit duplex with the upper unit currently used as the owner’s residence
- Owned solar panels installed on the roof
- Fully enclosed 1350sqft+ backyard
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
$45,452
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
3.64%
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%
$909,040
$909.0K
Cap Rate 7%
$649,314
$649.3K
Cap Rate 9%
$505,022
$505.0K
Market Conditions
NOI Build-Up for 2,148 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
$68.3K $31.80/SF
− Vacancy
−$3.4K −$1.57/SF
EGI
$64.9K $30.23/SF
− OpEx
−$19.5K −$9.07/SF
NOI
$45.5K $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%
$909,040
Cap Rate 7%
$649,314
Cap Rate 9%
$505,022
Alternative Uses
Best Use
Multifamily LT 5
$649.3K
$568.2K – $757.5K
NOI $45,452 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$610.5K
$534.2K – $712.3K
NOI $42,738 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,013 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with off-street parking, enclosed outdoor space, and convenient access to public transportation.
Where is this duplex located?
The property is located at 35 Franklin Ave Somerville, MA.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: Two‑unit duplex with the upper unit currently used as the owner’s residence; Owned solar panels installed on the roof; Fully enclosed 1350sqft+ backyard
