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Closed

298 Summer St., Somerville MA 02144

$1,299,900

Estimated $3,020.28/month Calculator

Multi Family

Total Units: 2

Price Per Unit: $649,950

Total Rent: 42000/year

Estimated CAP Rate: 2.39%

6 Bedrooms

2 Full Baths

2,598 SqFt

Total Parking: 2

2,194 SqFt

LOCATION, LOCATION, LOCATION!! This Philadelphia style two family is only minutes away from Porter Square and Davis Square. It's centrally located to all amenities such as schools, transportation, restaurants and shopping. It has a walkability score of 92 out of 100. This house is a renter's dream! This well maintained house hasn't been on the market for over 60 years! Each apartment has separate utilities. Roof was replaced 5 years ago. The boiler located on the 2nd floor was replaced in 2020 and the hot water heater in 2021. The boiler for the first floor was replaced in 2000 and the hot water heater in 2017. In the first floor apartment the washer and dryer were replaced in 2020 and the refrigerator in 2019. Schedule your appointment today!! The property is being sold "as is/where is".

This home has been viewed 33 times

Last Checked: May 7th, 2024 at 7:16am (Source: MLS PIN #73093782)

Gross Income: $42,000

Gross Expenses: $10,950

Net Income Calc: $31,050

CAP Rate: 2.39%

Annual Expenses for 298 Summer St., Somerville MA 02144

Total Gross Expenses (Calculated)$10,950/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$10,950

Annual Income & Unit Breakdown for 298 Summer St., Somerville MA 02144

Total Gross Income (Calculated)$42,000

Unit 1

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit2

HeatingYes

Rent Includes

Unit 2

Rental Income$3,500

LeaseY

Bedrooms4

Bathrooms1 Full

Floor2

Levels in Unit2

HeatingYes

Rent Includes

General Information for 298 Summer St., Somerville MA 02144

Listing ID73093782

Property TypeMulti Family / 2 Family

Price$1,299,900 ($500.35/SqFt)

Style2 Family - 2 Units Up/down

CitySomerville

CountyMiddlesex

MLS Area

Neighborhood(s)

Approximate Living Area Total2,598 SqFt

Approximate Lot Size (Acres)0.05 acres

Total Parking2

Garage Parking

Year Built1920

Year Built SourcePublic Records

Year Renovated

Year Built DetailsActual

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction Materials

Lot FeaturesCorner Lot

Foundation Area

Foundation DescriptionStone

Accessible Features

Outdoor Space

ZoningRA

Zoning Details

Water ViewsNo

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 298 Summer St., Somerville MA 02144

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area DisclosureMini split a/c system is located in the first floo

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data Source

Total Gross Expenses By Broker$0

Total Gross Income By Broker$42,000

Total Net Income By Broker$42,000

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2

Facilitator Compensation1

Sub-Agent Compensation

Compensation Based OnNet Sale Price

Financial Information for 298 Summer St., Somerville MA 02144

Real Estate Taxes$10,950

Tax Year2023

Assessed Value$1,059,000

Financial Data Source

Total Gross Expenses By Broker$0

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$42,000

BostonRealEstate.com Gross Income

Total Net Income By Broker$42,000

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)2.39%

Location Information for 298 Summer St., Somerville MA 02144

Elementary SchoolWest Somerville

Middle School-

High SchoolSomerville High

Neighborhood(s)

MLS Area

Area AmenitiesHouse Of Worship, Public School, Shopping, Laundromat, Public Transportation, T-station

Contact Information for 298 Summer St., Somerville MA 02144

Agent

Name: Jennifer Ann Scali

Office

Name: RE/MAX Andrew Realty Services

Phone: 781-438-7220

Payment Calculator

, Interest

Property Taxes 912.5

Principal & Interest 8009.57

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

RE/MAX Andrew Realty Services

Jennifer Ann Scali

Agent Phone

Office Phone

(781) 438-7220

Text Agent Call Agent Call Office

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                    [url] => https://media.mlspin.com/photo.aspx?mls=73093782&w=1024&h=768&n=21
                    [index] => 21
                    [enabled] => 1
                    [created] => 2024-05-07 07:16:24
                    [modified] => 2024-05-07 07:16:24
                )

[21] => Array
                (
                    [id] => 7547990
                    [name] => MLS22.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73093782&w=1024&h=768&n=22
                    [index] => 22
                    [enabled] => 1
                    [created] => 2024-05-07 07:16:24
                    [modified] => 2024-05-07 07:16:24
                )

[22] => Array
                (
                    [id] => 7547991
                    [name] => MLS23.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73093782&w=1024&h=768&n=23
                    [index] => 23
                    [enabled] => 1
                    [created] => 2024-05-07 07:16:24
                    [modified] => 2024-05-07 07:16:24
                )

[23] => Array
                (
                    [id] => 7547992
                    [name] => MLS24.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73093782&w=1024&h=768&n=24
                    [index] => 24
                    [enabled] => 1
                    [created] => 2024-05-07 07:16:24
                    [modified] => 2024-05-07 07:16:24
                )

[24] => Array
                (
                    [id] => 7547993
                    [name] => MLS25.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73093782&w=1024&h=768&n=25
                    [index] => 25
                    [enabled] => 1
                    [created] => 2024-05-07 07:16:24
                    [modified] => 2024-05-07 07:16:24
                )

[25] => Array
                (
                    [id] => 7547994
                    [name] => MLS26.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73093782&w=1024&h=768&n=26
                    [index] => 26
                    [enabled] => 1
                    [created] => 2024-05-07 07:16:24
                    [modified] => 2024-05-07 07:16:24
                )

[26] => Array
                (
                    [id] => 7547995
                    [name] => MLS27.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73093782&w=1024&h=768&n=27
                    [index] => 27
                    [enabled] => 1
                    [created] => 2024-05-07 07:16:24
                    [modified] => 2024-05-07 07:16:24
                )

[27] => Array
                (
                    [id] => 7547996
                    [name] => MLS28.jpg
                    [type] => gallery
                    [category] => external
                    [url] => https://media.mlspin.com/photo.aspx?mls=73093782&w=1024&h=768&n=28
                    [index] => 28
                    [enabled] => 1
                    [created] => 2024-05-07 07:16:24
                    [modified] => 2024-05-07 07:16:24
                )

)

)

EXIT