Duplex Property with Updated
For Sale
$1,000,000
67 Prospect Street, Somerville, MA 02143
Two-unit residence near Union Square with a fenced yard, porch, and access to public transportation.
Property Size1,890 SF
Price / SF$529.10
Days on Market147
Property Features for 67 Prospect Street
General Information
Standard status
Active
Size
1,890 SF
Total Parking Spaces
2
Property subtype
Multi-family / 2 Family
Zoning
NR
Net Operating Income
$33,600
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,858
Amenities
No
Wood, Vinyl, Carpet
Range, Refrigerator
2.0
Partial
Ceiling Fan(s), Living Room, Kitchen, Laundry Room, Window AC
2
2.00
Fenced
Corner Lot
Fenced Yard, Porch
Porch
Building Details
Year Built
1900
Listing Agency:
Prospect Hill Realty Group, Inc.
(617) 335-4801
Listed By:
Dylan Lambert · License #9630398
(617) 335-4801
Source:
Compass
Added: Apr 8
Changed: Aug 31
Last Checked: Aug 31 at 12:01AM
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 Prospect Hill Realty Group, Inc.
Investment Insights
Based on property information with market context.
This 1,890-square-foot duplex was built in 1900 and offers a two-unit configuration with living areas, kitchens, bathrooms, and separate residential spaces. Unit 2 has an updated kitchen and bath, with the option for in-unit laundry. Interior finishes include wood, vinyl, and carpet flooring, while appliances include a range and refrigerator. Window AC and ceiling fans are also present.
The property occupies a fenced corner lot with a fenced yard and porch. Off-street parking options are available, and the location provides access to the Green Line Extension and local bus stops. Union Square restaurants, shops, and public transportation are nearby.
The property occupies a fenced corner lot with a fenced yard and porch. Off-street parking options are available, and the location provides access to the Green Line Extension and local bus stops. Union Square restaurants, shops, and public transportation are nearby.
Key Highlights
- 1,890‑square‑foot duplex on a fenced corner lot
- Unit 2 features an updated kitchen and bath
- Option for in‑unit laundry in Unit 2
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
$39,993
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
4.00%
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%
$799,860
$799.9K
Cap Rate 7%
$571,329
$571.3K
Cap Rate 9%
$444,367
$444.4K
Market Conditions
NOI Build-Up for 1,890 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
$60.1K $31.80/SF
− Vacancy
−$3.0K −$1.57/SF
EGI
$57.1K $30.23/SF
− OpEx
−$17.1K −$9.07/SF
NOI
$40.0K $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%
$799,860
Cap Rate 7%
$571,329
Cap Rate 9%
$444,367
Alternative Uses
Best Use
Multifamily LT 5
$571.3K
$499.9K – $666.6K
NOI $39,993 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$537.2K
$470.1K – $626.8K
NOI $37,605 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$1.12M
$979.0K – $1.31M
NOI $78,321 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,689
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?
Duplex - Two-unit residence near Union Square with a fenced yard, porch, and access to public transportation.
Where is this duplex located?
The property is located at 67 Prospect Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 1,890‑square‑foot duplex on a fenced corner lot; Unit 2 features an updated kitchen and bath; Option for in‑unit laundry in Unit 2
