Renovated Two-Family
For Sale
$1,680,000
81 Gilman, Somerville, MA 02145
Separate residences offer modern finishes, distinct layouts, and private outdoor areas.
Property Size2,396 SF
Price / SF$701.17
Days on Market94
Property Features for 81 Gilman
General Information
Standard status
Active
Size
2,396 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Zoning
RB
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/3BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,157
Building Details
Building Size
2,396 SF
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
The Collaborative Companies
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 29
Changed: Aug 29
Last Checked: Aug 29 at 4:42PM
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 The Collaborative Companies
Investment Insights
Based on property information with market context.
This 2,396-square-foot duplex was built in 1900 and has undergone a full gut renovation. The two-unit configuration includes a lower residence with 2 bedrooms and 2 bathrooms, a single-level layout, and private outdoor space. The upper residence occupies two levels and provides 3 bedrooms, 3 bathrooms, and its own outdoor area. Modern finishes and separation between the homes support independent residential use within the same property.
Located at 81 Gilman in Somerville, the property is approximately 0.3 mi from Gilman Square and offers proximity to the Green Line, neighborhood dining, and local establishments. The property is zoned RB and presents a two-family format suited to either investment ownership or an owner-occupant arrangement.
Located at 81 Gilman in Somerville, the property is approximately 0.3 mi from Gilman Square and offers proximity to the Green Line, neighborhood dining, and local establishments. The property is zoned RB and presents a two-family format suited to either investment ownership or an owner-occupant arrangement.
Key Highlights
- 2,396 SF two‑family duplex in Somerville
- Unit 1: 2 beds / 2 baths with a single‑level layout
- Unit 2: 3 beds / 3 baths across the upper levels
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
$50,700
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
3.02%
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%
$1,014,000
$1.0M
Cap Rate 7%
$724,286
$724.3K
Cap Rate 9%
$563,333
$563.3K
Market Conditions
NOI Build-Up for 2,396 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
$76.2K $31.80/SF
− Vacancy
−$3.8K −$1.57/SF
EGI
$72.4K $30.23/SF
− OpEx
−$21.7K −$9.07/SF
NOI
$50.7K $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 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%
$1,014,000
Cap Rate 7%
$724,286
Cap Rate 9%
$563,333
Alternative Uses
Best Use
Multifamily LT 5
$724.3K
$633.8K – $845.0K
NOI $50,700 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$681.0K
$595.9K – $794.5K
NOI $47,672 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,290 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,311
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?
Duplex - Separate residences offer modern finishes, distinct layouts, and private outdoor areas.
Where is this duplex located?
The property is located at 81 Gilman Somerville, MA.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: 2,396 SF two‑family duplex in Somerville; Unit 1: 2 beds / 2 baths with a single‑level layout; Unit 2: 3 beds / 3 baths across the upper levels
