Two-Family Residential Income
For Sale
$1,049,986
68 Raymond Ave, Somerville, MA 02144
Spacious two-family home with five bedrooms and two full bathrooms, fully vacant and ready for immediate occupancy.
Property Size2,867 SF
Price / SF$366.23
Days on Market98
Property Features for 68 Raymond Ave
General Information
Standard status
Active
Size
2,867 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Listing Agency:
United Brokers
Listed By:
Matt Tasgin · License #9586146
(857) 361-8584
Source:
Gooddeedsrealtypartners
Added: Jul 17
Changed: Oct 14
Last Checked: Oct 7 at 5:10PM
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 United Brokers
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Investment Insights
Based on property information with market context.
This spacious two-family residential income property is fully vacant and ready for its next owner. The home offers approximately 2,867 square feet of living space with five bedrooms and two full bathrooms, providing generous room sizes and abundant natural light. With immediate occupancy available, the layout offers flexibility for owner-occupancy or rental use.
The property is located in Somerville near Davis Square and Teele Square, with the MBTA Red Line within minutes for commuting to Cambridge and Boston. It is also close to Tufts University, Powder House Park, the Somerville Community Path, and a variety of restaurants, cafes, shopping, and entertainment.
As listed, the home is configured as a two-family residence and is available now for buyers looking for a turn-key, vacant asset.
The property is located in Somerville near Davis Square and Teele Square, with the MBTA Red Line within minutes for commuting to Cambridge and Boston. It is also close to Tufts University, Powder House Park, the Somerville Community Path, and a variety of restaurants, cafes, shopping, and entertainment.
As listed, the home is configured as a two-family residence and is available now for buyers looking for a turn-key, vacant asset.
Key Highlights
- Fully vacant two‑family home with 5 bedrooms and 2 full bathrooms, ready for immediate occupancy
- Approx. 2,867 sq ft of living space in a 1910‑built home
- Great flexibility for owner‑occupants, investors, or multi‑generational living
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,667
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,213,340
$1.2M
Cap Rate 7%
$866,671
$866.7K
Cap Rate 9%
$674,078
$674.1K
Market Conditions
NOI Build-Up for 2,867 SF
Gross rent
$91.2K $31.80/SF
− Vacancy
−$4.5K −$1.57/SF
EGI
$86.7K $30.23/SF
− OpEx
−$26.0K −$9.07/SF
NOI
$60.7K $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 Rate 5%
$1,213,340
Cap Rate 7%
$866,671
Cap Rate 9%
$674,078
Alternative Uses
Best Use
Multifamily LT 5
$866.7K
$758.3K – $1.01M
NOI $60,667 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$814.9K
$713.1K – $950.7K
NOI $57,044 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,808 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,350
Businesses Nearby
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Business Placement
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Spacious two-family home with five bedrooms and two full bathrooms, fully vacant and ready for immediate occupancy.
Where is this duplex located?
The property is located at 68 Raymond Ave Somerville, MA.
What is the asking price?
The asking price for this property is $1,049,986.
What are key features of this property?
This property features: Fully vacant two‑family home with 5 bedrooms and 2 full bathrooms, ready for immediate occupancy; Approx. 2,867 sq ft of living space in a 1910‑built home; Great flexibility for owner‑occupants, investors, or multi‑generational living
