Triplex with Three-Deck
For Sale
$2,396,000
49 Porter Street, Somerville, MA 02143
Move-in ready triplex with high ceilings, original hardwood floors, and multiple private decks plus a shared yard.
Property Size4,110 SF
Price / SF$582.97
Days on Market124
Property Features for 49 Porter Street
General Information
Standard status
Active
Size
4,110 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
NR
Net Operating Income
$112,804
Taxes and HOA fees
Annual Taxes
$24,365
Building Details
Building Size
4,110 SF
Year Built
1900
Stories
4
Listing Agency:
Herion Karbunara
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 5
Changed: Sep 5
Last Checked: Sep 5 at 4:30AM
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 Herion Karbunara
Investment Insights
Based on property information with market context.
This well-maintained, move-in ready triplex offers a classic three-deck configuration with generous layouts throughout. Interior features include high ceilings, original hardwood floors, and abundant natural light. Outdoor space includes multiple private decks and a shared yard, providing flexible options for everyday use or entertaining.
Located in Somerville’s Spring Hill neighborhood, the property is positioned between Porter and Davis Squares with a 91 Walk Score. It offers convenient access to MBTA Red Line service, commuter rail, local shops and dining, and nearby universities including Harvard, Lesley, and Tufts.
The functional layout supports a range of residential income and owner-occupant use scenarios, making it a practical fit for buyers seeking a well-kept property with multiple outdoor living areas.
Located in Somerville’s Spring Hill neighborhood, the property is positioned between Porter and Davis Squares with a 91 Walk Score. It offers convenient access to MBTA Red Line service, commuter rail, local shops and dining, and nearby universities including Harvard, Lesley, and Tufts.
The functional layout supports a range of residential income and owner-occupant use scenarios, making it a practical fit for buyers seeking a well-kept property with multiple outdoor living areas.
Key Highlights
- Move‑in ready triplex built in 1900 with high ceilings and original hardwood floors
- Classic three‑deck configuration with multiple private decks plus access to a shared yard
- Abundant natural light and generous layouts throughout
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
$86,969
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
3.63%
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%
$1,739,380
$1.7M
Cap Rate 7%
$1,242,414
$1.2M
Cap Rate 9%
$966,322
$966.3K
Market Conditions
NOI Build-Up for 4,110 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
$130.7K $31.80/SF
− Vacancy
−$6.5K −$1.57/SF
EGI
$124.2K $30.23/SF
− OpEx
−$37.3K −$9.07/SF
NOI
$87.0K $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%
$1,739,380
Cap Rate 7%
$1,242,414
Cap Rate 9%
$966,322
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $86,969 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,775 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,317 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,325
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 - Move-in ready triplex with high ceilings, original hardwood floors, and multiple private decks plus a shared yard.
Where is this triplex located?
The property is located at 49 Porter Street Somerville, MA.
What is the asking price?
The asking price for this property is $2,396,000.
What are key features of this property?
This property features: Move‑in ready triplex built in 1900 with high ceilings and original hardwood floors; Classic three‑deck configuration with multiple private decks plus access to a shared yard; Abundant natural light and generous layouts throughout
