Somerville Six-Unit Investment
For Sale
$3,975,000
42 Calvin St, Somerville, MA 02143
Six-unit building near Harvard, Inman Square, strong rental potential.
Property Size9,106 SF
Days on Market112
Property Features for 42 Calvin St
General Information
Standard status
Active
Size
9,106 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$38,768
Building Details
Building Size
9,106 SF
Year Built
1900
Stories
5
Units
6
Listing Agency:
(617) 634-9665
Listed By:
Maggie Dee + Charles Cherney Team
(617) 634-9665
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 12 at 9:10AM
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 Maggie Dee + Charles Cherney Team
Investment Insights
Based on property information with market context.
This six-unit building presents an investment opportunity in Somerville. The property features spacious units with flexible floor plans that can function as 3-bedrooms, suitable for roommate living and with rental potential. Each apartment includes high ceilings and private covered back porches. The location provides access to Harvard University and the shops and services in Inman Square, as well as Whole Foods Market on Beacon Street and Kirkland Village with its shops and dining destinations. Current lease agreements are in place through May 31, 2027. The property has a bike score of 89, indicating it is very bikeable, a walk score of 97, indicating it is a walker's paradise, and a transit score of 85, indicating excellent transit.
Key Highlights
- Prime location with a Walk Score of 97, placing residents in a "Walker's Paradise"
- Strong income‑generating potential with leases in place through May 31, 2027
- Six spacious units with flexible floor plans, ideal for roommate living
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
$181,179
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
4.56%
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%
$3,623,580
$3.6M
Cap Rate 7%
$2,588,271
$2.6M
Cap Rate 9%
$2,013,100
$2.0M
Market Conditions
NOI Build-Up for 9,106 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
$347.5K $38.16/SF
− Vacancy
−$18.1K −$1.98/SF
EGI
$329.4K $36.18/SF
− OpEx
−$148.2K −$16.28/SF
NOI
$181.2K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
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%
$3,623,580
Cap Rate 7%
$2,588,271
Cap Rate 9%
$2,013,100
Alternative Uses
Best Use
Apartment 5plus
$2.59M
$2.26M – $3.02M
NOI $181,179 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.39M
$4.72M – $6.29M
NOI $377,350 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,032
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit building near Harvard, Inman Square, strong rental potential.
Where is this apartment building located?
The property is located at 42 Calvin St Somerville, MA.
What is the asking price?
The asking price for this property is $3,975,000.
What are key features of this property?
This property features: Prime location with a Walk Score of 97, placing residents in a "Walker's Paradise"; Strong income‑generating potential with leases in place through May 31, 2027; Six spacious units with flexible floor plans, ideal for roommate living
