Two-Unit Multifamily
For Sale
$925,000
54 Flint Street, Somerville, MA 02145
Flexible two-family layout with high ceilings, oversized eat-in kitchens, and laundry within each unit.
Property Size2,135 SF
Price / SF$433.26
Days on Market109
Property Features for 54 Flint Street
General Information
Standard status
Active
Size
2,135 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
RB
Property Condition
Severity
Repairs Needed
Evidence
a true blank slate for any and all renovations tailored to ones lifestyle
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,640
Amenities
in-unit laundry
Building Details
Building Size
2,135 SF
Year Built
1915
Buildings
1
Stories
3
Listing Agency:
Keller Williams Realty Evolution
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 12:59AM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
This 2,135-square-foot two-family property, built in 1915, includes two residential units with flexible floor plans and high ceilings. Each residence offers an oversized eat-in kitchen, a spacious living room, well-proportioned bedrooms, and in-unit laundry. Unit 1 functions as a two-bedroom layout, while Unit 2 adds a flex room suitable for use as an office or nursery. The property is zoned RB.
Located on Flint Street in East Somerville, the home provides access to the Green Line Extension and I-93. Broadway shops and restaurants are a few blocks away, with Assembly Row, Union Square, and Foss Park nearby. East Somerville Community School is one block from the property.
Located on Flint Street in East Somerville, the home provides access to the Green Line Extension and I-93. Broadway shops and restaurants are a few blocks away, with Assembly Row, Union Square, and Foss Park nearby. East Somerville Community School is one block from the property.
Key Highlights
- 2,135‑square‑foot two‑family property built in 1915
- Two residential units with flexible floor plans and high ceilings
- Unit 1 functions as a two‑bedroom; Unit 2 includes an additional flex room
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
$45,177
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
4.88%
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%
$903,540
$903.5K
Cap Rate 7%
$645,386
$645.4K
Cap Rate 9%
$501,967
$502.0K
Market Conditions
NOI Build-Up for 2,135 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
$67.9K $31.80/SF
− Vacancy
−$3.4K −$1.57/SF
EGI
$64.5K $30.23/SF
− OpEx
−$19.4K −$9.07/SF
NOI
$45.2K $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%
$903,540
Cap Rate 7%
$645,386
Cap Rate 9%
$501,967
Alternative Uses
Best Use
Multifamily LT 5
$645.4K
$564.7K – $753.0K
NOI $45,177 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$606.8K
$531.0K – $708.0K
NOI $42,479 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$1.26M
$1.11M – $1.47M
NOI $88,474 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,144
Businesses Nearby
Explore this area
Business Placement
Demographics for 02145, MA
27,520
Population
12,669
Households
2.2
Avg Household Size
33
Median Age
55%
College-Educated
89%
High-School Grad
1.4 sq mi
ZIP Area
19,657
Density / Sq Mi
$119,167
Median Household Income
$63,629
Median Earnings
$2,377
Median Rent
$784,900
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?
Duplex - Flexible two-family layout with high ceilings, oversized eat-in kitchens, and laundry within each unit.
Where is this duplex located?
The property is located at 54 Flint Street Somerville, MA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 2,135‑square‑foot two‑family property built in 1915; Two residential units with flexible floor plans and high ceilings; Unit 1 functions as a two‑bedroom; Unit 2 includes an additional flex room
