Three-Family Home with
For Sale
$1,999,900
757 Somerville Ave, Somerville, MA 02143
Three well-maintained units with eat-in kitchens, in-building laundry, and private porches, plus garage and parking for six.
Property Size3,774 SF
Days on Market20
Property Features for 757 Somerville Ave
General Information
Standard status
Active
Size
3,774 SF
Total Parking Spaces
8
Property subtype
Multifamily
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$20,019
Amenities
hardwood floors
replacement windows
coin-operated laundry
private storage
private side porch
front deck
two-bay garage
yard
Building Details
Building Size
3,774 SF
Year Built
1910
Stories
3
Tenancy
Multi
Listing Agency:
RE/MAX Real Estate Center
(617) 290-5868
Listed By:
David Lilley · License #126913
Source:
Classifiedrealtygroup
Added: Jul 24
Changed: Aug 11
Last Checked: Aug 11 at 5:16AM
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 RE/MAX Real Estate Center
Investment Insights
Based on property information with market context.
A well-maintained three-family residence offering three spacious, income-producing units. Each unit features a living room, three equally sized bedrooms, modern baths, and sunny eat-in kitchens with dishwashers and pantries. Interior amenities include hardwood floors and replacement windows, with coin-operated laundry and private storage in the basement. Both the 2nd and 3rd floor units also have front decks, and every unit includes a large private side porch.
The home is located near Porter Square, right on the Cambridge/Somerville line, with easy access to Harvard Square, Davis Square, Kendall Square/MIT, and downtown Boston. The property is described as being at the intersection of Somerville Avenue and Beacon Street.
Operations are simplified with separately metered utilities. Additional features include a small yard, a two-bay garage, and parking for six cars. There is also potential to expand into the full basement. Gross income, including parking income, is reported as $144,720 per year.
The home is located near Porter Square, right on the Cambridge/Somerville line, with easy access to Harvard Square, Davis Square, Kendall Square/MIT, and downtown Boston. The property is described as being at the intersection of Somerville Avenue and Beacon Street.
Operations are simplified with separately metered utilities. Additional features include a small yard, a two-bay garage, and parking for six cars. There is also potential to expand into the full basement. Gross income, including parking income, is reported as $144,720 per year.
Key Highlights
- Built in 1910: well‑maintained income‑producing 3‑family home near Porter Square
- Three units; each has a spacious living room, three equally sized bedrooms, and a modern bath
- Sunny eat‑in kitchens with dishwashers and pantries; hardwood floors and replacement windows
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
$79,859
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
3.99%
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%
$1,597,180
$1.6M
Cap Rate 7%
$1,140,843
$1.1M
Cap Rate 9%
$887,322
$887.3K
Market Conditions
NOI Build-Up for 3,774 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
$120.0K $31.80/SF
− Vacancy
−$5.9K −$1.57/SF
EGI
$114.1K $30.23/SF
− OpEx
−$34.2K −$9.07/SF
NOI
$79.9K $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%
$1,597,180
Cap Rate 7%
$1,140,843
Cap Rate 9%
$887,322
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$998.2K – $1.33M
NOI $79,859 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$1.07M
$938.6K – $1.25M
NOI $75,090 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$2.23M
$1.95M – $2.61M
NOI $156,394 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,660
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?
Triplex - Three well-maintained units with eat-in kitchens, in-building laundry, and private porches, plus garage and parking for six.
Where is this triplex located?
The property is located at 757 Somerville Ave Somerville, MA.
What is the asking price?
The asking price for this property is $1,999,900.
What are key features of this property?
This property features: Built in 1910: well‑maintained income‑producing 3‑family home near Porter Square; Three units; each has a spacious living room, three equally sized bedrooms, and a modern bath; Sunny eat‑in kitchens with dishwashers and pantries; hardwood floors and replacement windows
