Victorian Two-Family
For Sale
$1,649,900
61 Central Street, Somerville, MA 02143
Rare Spring Hill two-family with premium rental income potential.
Property Size3,548 SF
Price / SF$465.02
Days on Market87
Property Features for 61 Central Street
General Information
Standard status
Active
Size
3,548 SF
Total Parking Spaces
3
Property subtype
Multi-family / 2 Family
Zoning
RA
Taxes and HOA fees
Annual Taxes
$14,482
Amenities
City/Town Sewer, Public, 100 Amp Service
No
Wood
4.0
Full
2
3.00
4
Fenced
Frame
Shingle
Corner Lot
Fenced Yard, Deck
Deck
Building Details
Year Built
1900
Listing Agency:
McCaul & Mounsif Real Estate Group LLC
(781) 530-0753
Listed By:
McCaul & Mounsif Real Estate Group
(781) 530-0753
Source:
Compass
Added: May 26
Changed: Aug 8
Last Checked: Jul 27 at 2:23AM
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 McCaul & Mounsif Real Estate Group LLC
Investment Insights
Based on property information with market context.
This side-by-side Victorian two-family home is located in Spring Hill. The property features dark siding, a turret, and classic trim. Each unit offers 4 bedrooms and 1.5 baths. The layout includes a living room, formal dining room, kitchen, and half bath on the main level. The upper level contains 3 bedrooms and a full bath, with a private 4th bedroom on the top floor. Outdoor amenities include off-street parking, a deck, and a private side yard. The basement has ceiling height suitable for future expansion. The property is located near Union Square, Porter Square, and the green line. The property size is 3548 square feet and is suitable for generating rental income.
Key Highlights
- Premium rental income potential as a Victorian two‑family home
- Each unit features a spacious single‑family layout with 4 bedrooms and 1.5 baths
- Highly coveted off‑street parking, deck, and private side yard
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
$75,077
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
4.55%
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%
$1,501,540
$1.5M
Cap Rate 7%
$1,072,529
$1.1M
Cap Rate 9%
$834,189
$834.2K
Market Conditions
NOI Build-Up for 3,548 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
$112.8K $31.80/SF
− Vacancy
−$5.6K −$1.57/SF
EGI
$107.3K $30.23/SF
− OpEx
−$32.2K −$9.07/SF
NOI
$75.1K $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%
$1,501,540
Cap Rate 7%
$1,072,529
Cap Rate 9%
$834,189
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$938.5K – $1.25M
NOI $75,077 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$1.01M
$882.4K – $1.18M
NOI $70,593 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $147,028 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,346
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Rare Spring Hill two-family with premium rental income potential.
Where is this duplex located?
The property is located at 61 Central Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,649,900.
What are key features of this property?
This property features: Premium rental income potential as a Victorian two‑family home; Each unit features a spacious single‑family layout with 4 bedrooms and 1.5 baths; Highly coveted off‑street parking, deck, and private side yard
