3-Unit Row
New
For Sale
$1,150,000
419 Somerville Ave., Somerville, MA 02143
One apartment is occupied at market rent, while the other two units are vacant.
Property Size1,887 SF
Price / SF$609.43
Days on Market3
Property Features for 419 Somerville Ave.
General Information
Standard status
Active
Size
1,887 SF
Property subtype
Multi-Family
Zoning
UR
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,673
Building Details
Building Size
1,887 SF
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Unicorn Realty
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Sep 24
Last Checked: Sep 24 at 2:26PM
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 Unicorn Realty
Investment Insights
Based on property information with market context.
This 1,887-square-foot, three-unit row house was built in 1900 and is zoned UR. One unit is occupied by a tenant at will paying market rent; the other two are vacant. The ground level previously operated as a storefront, and future use should be evaluated by the buyer.
The property is on Somerville Ave. Market Basket is directly across the street, with Union Square, Green Line service, bus service, restaurants, cafés, and shops nearby. Two additional three-family buildings from the same owner are also available, with the option to acquire one, two, or all three properties.
The property is on Somerville Ave. Market Basket is directly across the street, with Union Square, Green Line service, bus service, restaurants, cafés, and shops nearby. Two additional three-family buildings from the same owner are also available, with the option to acquire one, two, or all three properties.
Key Highlights
- Three‑unit row house with 1,887 square feet
- Built in 1900; zoned UR
- One unit occupied at market rent; two units vacant
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
$39,930
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
3.47%
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%
$798,600
$798.6K
Cap Rate 7%
$570,429
$570.4K
Cap Rate 9%
$443,667
$443.7K
Market Conditions
NOI Build-Up for 1,887 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
$60.0K $31.80/SF
− Vacancy
−$3.0K −$1.57/SF
EGI
$57.0K $30.23/SF
− OpEx
−$17.1K −$9.07/SF
NOI
$39.9K $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%
$798,600
Cap Rate 7%
$570,429
Cap Rate 9%
$443,667
Alternative Uses
Best Use
Multifamily LT 5
$570.4K
$499.1K – $665.5K
NOI $39,930 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$536.4K
$469.3K – $625.8K
NOI $37,545 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.12M
$977.5K – $1.30M
NOI $78,197 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - One apartment is occupied at market rent, while the other two units are vacant.
Where is this triplex located?
The property is located at 419 Somerville Ave. Somerville, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three‑unit row house with 1,887 square feet; Built in 1900; zoned UR; One unit occupied at market rent; two units vacant
