Two-Family Residence with Driveway
56 School Street Somerville, MA 02143
56 School Street, Somerville, MA, 02143
$1,599,999
For Sale
$1,599,999
Well-maintained two-family home with two levels in the upper unit, hardwood floors, and ample off-street parking.
Property Size3,186 SF
Lot Size0.12 Acres
Price / SF$502.20
Days on Market101
Property Features for 56 School Street
General Information
- Standard status
- Active
- Size
- 3,186 SF
- Lot size
- 0.12 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1915
Listing agency
Berkshire Hathaway HomeServices Warren Residential
Listed by
Daniela Cafaro
(978) 808-8064
Source
Merryfoxrealty
Added: Apr 14 Updated: Jul 22 at 12:20PM Checked: Jul 22 at 12:20PM
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 Berkshire Hathaway HomeServices Warren Residential
Investment Insights
Based on property information with market context.
56 School Street is a well-maintained two-family residence offering two spacious units totaling 6 bedrooms and 4 bathrooms. The property features hardwood floors and inviting living and dining areas across both units. The upper unit spans two levels and includes a top-floor den, while the lower level provides abundant storage and bonus space with future potential.
The home sits on a 5,227 sq ft lot and includes a large driveway that provides ample off-street parking, along with an expansive yard. Located in the heart of Somerville’s Union Square, it’s positioned near local restaurants, shops, parks, and transit, with convenient access to Cambridge and downtown Boston.
With a total of 3,186 sq ft of living space, this property suits buyers seeking flexibility between units or an owner-occupant arrangement, backed by practical common improvements such as hard surface flooring and strong interior layout character.
The home sits on a 5,227 sq ft lot and includes a large driveway that provides ample off-street parking, along with an expansive yard. Located in the heart of Somerville’s Union Square, it’s positioned near local restaurants, shops, parks, and transit, with convenient access to Cambridge and downtown Boston.
With a total of 3,186 sq ft of living space, this property suits buyers seeking flexibility between units or an owner-occupant arrangement, backed by practical common improvements such as hard surface flooring and strong interior layout character.
Key Highlights
- Two‑family residence built in 1915 with 3,186 sq ft of living space on a 5,227 sq ft lot
- Total of 6 bedrooms and 4 bathrooms across both spacious units
- Hardwood floors and large living and dining areas in each residence
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.3k | $31.80 |
| − Vacancy | −$5.0k | −$1.57 |
| EGI | $96.3k | $30.23 |
| − OpEx | −$28.9k | −$9.07 |
| NOI | $67.4k | $21.16 |
3,186 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$963.1K
$842.7K – $1.12M
NOI $67,417 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$905.6K
$792.4K – $1.06M
NOI $63,391 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,027 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with two levels in the upper unit, hardwood floors, and ample off-street parking.
Where is this duplex located?
The property is located at 56 School Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Two‑family residence built in 1915 with 3,186 sq ft of living space on a 5,227 sq ft lot; Total of 6 bedrooms and 4 bathrooms across both spacious units; Hardwood floors and large living and dining areas in each residence
