Renovated
New
For Sale
$1,475,000
43 Harrison Street, Somerville, MA 02143
Three distinct living areas include a legal accessory dwelling unit and updated first-floor accommodations.
Property Size3,141 SF
Days on Market6
Property Features for 43 Harrison Street
General Information
Standard status
Active
Size
3,141 SF
Total Parking Spaces
3
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$13,145
Building Details
Building Size
3,141 SF
Year Built
1890
Listing Agency:
Coldwell Banker Realty - Lexington
(781) 862-2600
Listed By:
Jessica Mirabella
Source:
Classifiedrealtygroup
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 25 at 4:59AM
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 Coldwell Banker Realty - Lexington
Investment Insights
Based on property information with market context.
This triplex at 43 Harrison Street includes three distinct living areas. The first-floor residence has been comprehensively updated with hardwood flooring, recessed lighting, new cabinetry, upgraded counters, stainless-steel appliances, an induction cooktop, tiled tub and shower, and custom blinds. A legal accessory dwelling unit below adds a bedroom, kitchenette, full bathroom, and laundry area. The upper residence spans the second and third floors and provides four bedrooms, a full bathroom, hardwood flooring in the living room and kitchen, and a separate laundry room.
The property also includes off-street parking for approximately three cars, an electrically equipped custom shed, an OTO smart sprinkler system, and a patio with string lights. Built in 1890, the Somerville property combines multiple residential layouts with substantial updates to the first-floor unit and practical outdoor features.
The property also includes off-street parking for approximately three cars, an electrically equipped custom shed, an OTO smart sprinkler system, and a patio with string lights. Built in 1890, the Somerville property combines multiple residential layouts with substantial updates to the first-floor unit and practical outdoor features.
Key Highlights
- Legal ADU with bedroom, kitchenette, full bathroom, and laundry area
- Upper residence spans the second and third floors with four bedrooms
- First‑floor unit updated with hardwood floors, recessed lighting, cabinetry, counters, and stainless‑steel appliances
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
$66,465
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
4.51%
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%
$1,329,300
$1.3M
Cap Rate 7%
$949,500
$949.5K
Cap Rate 9%
$738,500
$738.5K
Market Conditions
NOI Build-Up for 3,141 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
$99.9K $31.80/SF
− Vacancy
−$4.9K −$1.57/SF
EGI
$94.9K $30.23/SF
− OpEx
−$28.5K −$9.07/SF
NOI
$66.5K $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%
$1,329,300
Cap Rate 7%
$949,500
Cap Rate 9%
$738,500
Alternative Uses
Best Use
Multifamily LT 5
$949.5K
$830.8K – $1.11M
NOI $66,465 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$892.8K
$781.2K – $1.04M
NOI $62,495 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,162 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,772
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?
Triplex - Three distinct living areas include a legal accessory dwelling unit and updated first-floor accommodations.
Where is this triplex located?
The property is located at 43 Harrison Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Legal ADU with bedroom, kitchenette, full bathroom, and laundry area; Upper residence spans the second and third floors with four bedrooms; First‑floor unit updated with hardwood floors, recessed lighting, cabinetry, counters, and stainless‑steel appliances
