Duplex with Owned Solar
For Sale
$1,249,000
35 Franklin Ave, Somerville, MA 02145
Residential Income, Somerville, MA
Property Size2,148 SF
Lot Size0.06 Acres
Price / SF$581.47
Days on Market49
Property Features for 35 Franklin Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NR
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4
Parking
2
Directions
google maps
Subdivision
East Somerville
Standard status
Active
APN
M:0104 B:000D L:0013,761158
Size
2,148 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10591
Amenities
solar panels
fully enclosed backyard
Building Details
Year built
1890
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty Boston Northwest
(617) 497-8900
Listed By:
Christina Hill
(978) 369-5775
Added: Aug 14
Changed: Oct 1
Last Checked: Oct 1 at 11:06PM
MLS# 73563730
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,148-square-foot duplex dates to 1890 and includes five bedrooms and three bathrooms. The upper unit serves as the owner’s residence, while the property also has rental income. Solar panels are owned and installed on the roof, and the lot includes off-street parking and a fully enclosed backyard measuring more than 1,350 square feet.
Zoned NR, the property is on a side street with access to public transportation on the Orange and Green lines, as well as nearby highway access. The site measures 0.0587 acres.
Zoned NR, the property is on a side street with access to public transportation on the Orange and Green lines, as well as nearby highway access. The site measures 0.0587 acres.
Key Highlights
- Duplex with 2,148 square feet, five bedrooms, and three bathrooms
- Owned rooftop solar panels
- Fully enclosed backyard measuring 1,350 square feet+
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
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Open Analytics
Current Use
Lease Details
Yes
Highway 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 include off-street parking and an enclosed backyard.
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: Duplex with 2,148 square feet, five bedrooms, and three bathrooms; Owned rooftop solar panels; Fully enclosed backyard measuring 1,350 square feet+
