Duplex with Owned Solar
New
For Sale
$1,249,000
35 Franklin Ave, Somerville, MA 02145
MULTI_FAMILY - Somerville, MA
Property Size2,148 SF
Lot Size0.06 Acres
Price / SF$581.47
Days on Market2
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
Bedroom 5, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 2
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
outdoor spaces
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
Last Checked: Aug 15 at 5:06AM
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 duplex contains 2148 square feet within a two-unit configuration, with the upper residence currently serving as the owner’s unit. Interior improvements have been completed over time, and the property includes rooftop solar panels owned by the property owner. Off-street parking and a fully enclosed backyard measuring 1350sqft+ add practical outdoor space.
Positioned on a side street in Somerville, the property is equidistant from the Orange and Green public transportation lines and offers highway access. The parcel measures 0.0587 acres, carries NR zoning, and includes three bathrooms and five bedrooms overall. Built in 1890, the property combines existing residential income characteristics with outdoor amenities and transit connectivity.
Positioned on a side street in Somerville, the property is equidistant from the Orange and Green public transportation lines and offers highway access. The parcel measures 0.0587 acres, carries NR zoning, and includes three bathrooms and five bedrooms overall. Built in 1890, the property combines existing residential income characteristics with outdoor amenities and transit connectivity.
Key Highlights
- Duplex configuration with five bedrooms and three bathrooms
- 2148 square feet on a 0.0587‑acre parcel
- Owned rooftop solar panels
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
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 private outdoor space, off-street parking, and owned rooftop solar.
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 configuration with five bedrooms and three bathrooms; 2148 square feet on a 0.0587‑acre parcel; Owned rooftop solar panels
