Updated Triplex with
For Sale
$1,550,000
Pending
68 Flint St, Somerville, MA 02145
Three updated residences feature open-concept living areas, private outdoor spaces, driveway parking, and a walk-out basement.
Property Size3,001 SF
Days on Market140
Property Features for 68 Flint St
General Information
Standard status
Pending
Size
3,001 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
RB
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Additional Details
Road Access
Yes
Amenities
yard
walk-out basement
private balcony
back deck
ductless AC
Building Details
Building Size
3,001 SF
Year Built
1890
Buildings
1
Stories
3
Listing Agency:
Compass
(617) 303-0067
Listed By:
Lewis Carroll Team
Source:
Cjbarrett
Added: Apr 16
Changed: Aug 30
Last Checked: Aug 30 at 10:58AM
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 Compass
Investment Insights
Based on property information with market context.
This 3,001-square-foot triplex, built in 1890, contains three residences with updated interiors and open-concept kitchen, living, and dining areas. The property includes modern kitchens and baths, a large yard, a two-car driveway, and a walk-out basement. Additional outdoor features include a back deck and private balcony access. The building is located at 68 Flint St in Somerville’s East Somerville area, on a side street near restaurants, shops, and everyday conveniences. RB zoning is provided for the property.
Key Highlights
- Three‑unit multifamily property with 3,001 SF of building area
- Updated interiors throughout, including kitchens and baths
- Open‑concept kitchen, living, and dining areas in all three units
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
$63,502
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
4.10%
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%
$1,270,040
$1.3M
Cap Rate 7%
$907,171
$907.2K
Cap Rate 9%
$705,578
$705.6K
Market Conditions
NOI Build-Up for 3,001 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
$95.4K $31.80/SF
− Vacancy
−$4.7K −$1.57/SF
EGI
$90.7K $30.23/SF
− OpEx
−$27.2K −$9.07/SF
NOI
$63.5K $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%
$1,270,040
Cap Rate 7%
$907,171
Cap Rate 9%
$705,578
Alternative Uses
Best Use
Multifamily LT 5
$907.2K
$793.8K – $1.06M
NOI $63,502 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$853.0K
$746.4K – $995.2K
NOI $59,710 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$1.78M
$1.55M – $2.07M
NOI $124,361 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,265
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?
Triplex - Three updated residences feature open-concept living areas, private outdoor spaces, driveway parking, and a walk-out basement.
Where is this triplex located?
The property is located at 68 Flint St Somerville, MA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 3,001 SF of building area; Updated interiors throughout, including kitchens and baths; Open‑concept kitchen, living, and dining areas in all three units
