Two-Family Residential Income
For Sale
$1,560,000
Pending
39 Whitman Street, Somerville, MA 02144
Two-unit Somerville residence with multi-level second unit, dedicated office/study, and in-unit laundry.
Property Size3,025 SF
Days on Market102
Property Features for 39 Whitman Street
General Information
Standard status
Pending
Size
3,025 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,331
Building Details
Building Size
3,025 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Century 21 North East
Listed By:
Leonard Ferrari Jr. · License #9571217
(781) 231-2236
Source:
Classifiedrealtygroup
Added: May 28
Changed: Aug 23
Last Checked: Jul 21 at 1:28AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This two-family home offers a spacious first-floor unit and a multi-level second-floor unit. The first floor includes a charming foyer, sun-filled living and dining rooms, a full bath, and an eat-in kitchen with breakfast seating. The second unit features four bedrooms, a living room, dining room, an eat-in kitchen, and a dedicated office or study with built-in tabletops that overlooks the porch. Laundry is located within each unit in a closet, and original hardwood floors and natural woodwork run throughout the home.
The property is set in a desirable Somerville neighborhood between Tufts University and Powder House Square, with Davis Square a few blocks away. It is also described as convenient to the Red Line and Green Line, along with nearby restaurants, shops, and parks.
Outside, the home includes a newer backyard patio suited for outdoor gatherings.
The property is set in a desirable Somerville neighborhood between Tufts University and Powder House Square, with Davis Square a few blocks away. It is also described as convenient to the Red Line and Green Line, along with nearby restaurants, shops, and parks.
Outside, the home includes a newer backyard patio suited for outdoor gatherings.
Key Highlights
- Two‑family Somerville home built in 1900.
- First‑floor unit includes a foyer, sun‑filled living and dining rooms, full bath, and eat‑in kitchen with granite countertops.
- Second‑floor unit features four bedrooms plus living and dining rooms and an eat‑in kitchen.
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
$64,010
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
4.10%
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%
$1,280,200
$1.3M
Cap Rate 7%
$914,429
$914.4K
Cap Rate 9%
$711,222
$711.2K
Market Conditions
NOI Build-Up for 3,025 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
$96.2K $31.80/SF
− Vacancy
−$4.8K −$1.57/SF
EGI
$91.4K $30.23/SF
− OpEx
−$27.4K −$9.07/SF
NOI
$64.0K $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%
$1,280,200
Cap Rate 7%
$914,429
Cap Rate 9%
$711,222
Alternative Uses
Best Use
Multifamily LT 5
$914.4K
$800.1K – $1.07M
NOI $64,010 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$859.8K
$752.3K – $1.00M
NOI $60,187 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,355 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,433
Businesses Nearby
Explore this area
Business Placement
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit Somerville residence with multi-level second unit, dedicated office/study, and in-unit laundry.
Where is this duplex located?
The property is located at 39 Whitman Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,560,000.
What are key features of this property?
This property features: Two‑family Somerville home built in 1900.; First‑floor unit includes a foyer, sun‑filled living and dining rooms, full bath, and eat‑in kitchen with granite countertops.; Second‑floor unit features four bedrooms plus living and dining rooms and an eat‑in kitchen.
