Duplex With Detached
New
For Sale
$629,900
84 Third Street, Somerset, MA 02726
Two-family property with flexible living areas, separate entrances, and powered workshop space on a residential side street.
Property Size2,210 SF
Price / SF$285.02
Days on Market7
Property Features for 84 Third Street
General Information
Standard status
Active
Size
2,210 SF
Property subtype
Multi-family
Building Details
Year Built
1930
Listing Agency:
Keller Williams South Watuppa
Listed By:
The Ponte Group
(401) 245-9600
Source:
Residentialproperties
Added: Aug 14
Changed: Aug 19
Last Checked: Aug 19 at 9:58AM
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 Keller Williams South Watuppa
Investment Insights
Based on property information with market context.
Built in 1930, this 2,210-square-foot duplex contains two distinct residential units with adaptable layouts. Unit #2 extends across two floors and includes 2–3 bedrooms, while Unit #1 has independent access from the front and rear decks. The third floor adds a half bath, full insulation, updated heating, and updated electrical wiring.
The property occupies a 15,000-square-foot lot at 84 Third Street in Somerset, Massachusetts. Improvements include a detached two-car garage and additional storage or workshop space with electricity. A large maintained yard provides outdoor space for gardening, entertaining, children, or pets.
The property occupies a 15,000-square-foot lot at 84 Third Street in Somerset, Massachusetts. Improvements include a detached two-car garage and additional storage or workshop space with electricity. A large maintained yard provides outdoor space for gardening, entertaining, children, or pets.
Key Highlights
- Two‑family duplex with 2,210 square feet of building area
- Unit #2 spans two floors and includes 2–3 bedrooms
- Unit #1 has separate front and rear deck entrances
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
$39,495
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
6.27%
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%
$789,900
$789.9K
Cap Rate 7%
$564,214
$564.2K
Cap Rate 9%
$438,833
$438.8K
Market Conditions
NOI Build-Up for 2,210 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
$61.0K $27.60/SF
− Vacancy
−$4.6K −$2.07/SF
EGI
$56.4K $25.53/SF
− OpEx
−$16.9K −$7.66/SF
NOI
$39.5K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /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%
$789,900
Cap Rate 7%
$564,214
Cap Rate 9%
$438,833
Alternative Uses
Best Use
Multifamily LT 5
$564.2K
$493.7K – $658.3K
NOI $39,495 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$524.3K
$458.8K – $611.7K
NOI $36,704 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,210 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 02726, MA
15,671
Population
6,719
Households
2.3
Avg Household Size
46
Median Age
37%
College-Educated
93%
High-School Grad
5.5 sq mi
ZIP Area
2,849
Density / Sq Mi
$110,427
Median Household Income
$65,106
Median Earnings
$1,316
Median Rent
$389,300
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-family property with flexible living areas, separate entrances, and powered workshop space on a residential side street.
Where is this duplex located?
The property is located at 84 Third Street Somerset, MA.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: Two‑family duplex with 2,210 square feet of building area; Unit #2 spans two floors and includes 2–3 bedrooms; Unit #1 has separate front and rear deck entrances
