Vacant Quadplex
For Sale
$2,599,900
46-52 Hancock Street, Somerville, MA 02144
Residential income property with separate utilities, gas heating, and a fenced yard.
Property Size4,422 SF
Price / SF$587.95
Days on Market10
Property Features for 46-52 Hancock Street
General Information
Standard status
Active
Size
4,422 SF
Total Parking Spaces
2
Property subtype
Multi-family
Lease Term
[]
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR/1BA, 1 x 4BR/1.5BA
Multifamily Units
4
Amenities
fenced in yard
coin-op laundry
storage areas
Building Details
Year Built
1920
Buildings
2
Listing Agency:
Century 21 North East
Listed By:
Kristin Gennetti · License #448551493
(781) 704-7040
Source:
Yourhomeforsale
Added: Sep 14
Changed: Sep 23
Last Checked: Sep 22 at 5:08PM
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 four-unit residential property combines a three-family building with a separate single-family home on the corner of Summer and Hancock Street. The single-family residence includes a first-floor living room, eat-in kitchen, two bedrooms, and a full bath; the second floor adds two bedrooms and a half bath, while the finished basement contains two bonus rooms and laundry space. A two-car garage serves the home.
The three-family building features high ceilings, spacious rooms, and period details. Units 1 and 2 each offer 5 rooms, 2 bedrooms, and 1 bath, while Unit 3 includes 4 rooms, 2 bedrooms, and 1 bath. Additional property features include coin-operated laundry, storage areas for each unit, separate utilities, gas heating, and a fenced yard. The exterior was painted in 2025, and new furnaces were installed for the 2nd and 3rd floors in 2024. The property will be delivered vacant and is near Davis Square, Porter Square, the Red Line, the Bike Path, bus service, Harvard, Tufts University, schools, and Boston.
The three-family building features high ceilings, spacious rooms, and period details. Units 1 and 2 each offer 5 rooms, 2 bedrooms, and 1 bath, while Unit 3 includes 4 rooms, 2 bedrooms, and 1 bath. Additional property features include coin-operated laundry, storage areas for each unit, separate utilities, gas heating, and a fenced yard. The exterior was painted in 2025, and new furnaces were installed for the 2nd and 3rd floors in 2024. The property will be delivered vacant and is near Davis Square, Porter Square, the Red Line, the Bike Path, bus service, Harvard, Tufts University, schools, and Boston.
Key Highlights
- Four‑unit configuration with a three‑family building and separate single‑family home
- Single‑family residence includes 4 bedrooms, 1 full bath, 1 half bath, finished basement, and 2‑car garage
- Units 1 and 2 each have 5 rooms, 2 bedrooms, and 1 bath; Unit 3 has 4 rooms, 2 bedrooms, and 1 bath
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
$93,571
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
3.60%
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%
$1,871,420
$1.9M
Cap Rate 7%
$1,336,729
$1.3M
Cap Rate 9%
$1,039,678
$1.0M
Market Conditions
NOI Build-Up for 4,422 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
$140.6K $31.80/SF
− Vacancy
−$6.9K −$1.57/SF
EGI
$133.7K $30.23/SF
− OpEx
−$40.1K −$9.07/SF
NOI
$93.6K $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%
$1,871,420
Cap Rate 7%
$1,336,729
Cap Rate 9%
$1,039,678
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.56M
NOI $93,571 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $87,983 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$2.62M
$2.29M – $3.05M
NOI $183,247 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,996
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with separate utilities, gas heating, and a fenced yard.
Where is this quadplex located?
The property is located at 46-52 Hancock Street Somerville, MA.
What is the asking price?
The asking price for this property is $2,599,900.
What are key features of this property?
This property features: Four‑unit configuration with a three‑family building and separate single‑family home; Single‑family residence includes 4 bedrooms, 1 full bath, 1 half bath, finished basement, and 2‑car garage; Units 1 and 2 each have 5 rooms, 2 bedrooms, and 1 bath; Unit 3 has 4 rooms, 2 bedrooms, and 1 bath
