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Closed

24 Spencer Ave, Somerville MA 02144

$1,324,000

Estimated $3,342.69/month Calculator

Multi Family

Total Units: 2

Price Per Unit: $662,000

Total Rent: 48000/year

Estimated CAP Rate: 2.54%

6 Bedrooms

2 Full Baths

3,308 SqFt

Total Parking: 5

3,437 SqFt

Don’t miss this lucrative opportunity for investors looking to convert Philly style 2 family into condos, rental investment or owner occupied with rents paying most of mortgage! Minutes to Davis & Porter Squares Red Line & Magoun Square Green Line MBTA stations. Highly desirable, large 3,308 sqft space, 6 beds, 2 baths on quiet, tree lined street. Unit 1 w/ 5 rooms, 2 beds, 1 bath. Unit 2 w/ 7 rooms, 4 beds, 1 bath. Both units feature spacious living rooms, dining rooms, kitchens w/ gas stoves, dishwashers & laundry in units. Large bedrooms w/ walk-in closets. High ceilings, hardwood floors, dentil molding & extensive storage in large closets. Private decks & fenced back yard. Shared walk out basement. Separate heating & electrical. Newer roof, gas furnace 2nd flr, hot water heaters, insulation & many appliances. Care free vinyl siding. Tenants pay $4K/ TAW. Easy commute to Tufts Univ & Boston. Walk to restaurants, parks, walking/biking path. Off street parking 5 cars

This home has been viewed 24 times

Last Checked: May 7th, 2024 at 7:56am (Source: MLS PIN #73096604)

Gross Income: $48,000

Gross Expenses: $14,350

Net Income Calc: $33,650

CAP Rate: 2.54%

Annual Expenses for 24 Spencer Ave, Somerville MA 02144

Total Gross Expenses (Calculated)$14,350/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$14,350

Annual Income & Unit Breakdown for 24 Spencer Ave, Somerville MA 02144

Total Gross Income (Calculated)$48,000

Unit 1

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit2

HeatingYes

Rent Includes

Unit 2

Rental Income$4,000

LeaseN

Bedrooms4

Bathrooms1 Full

Floor2

Levels in Unit2

HeatingYes

Rent Includes

General Information for 24 Spencer Ave, Somerville MA 02144

Listing ID73096604

Property TypeMulti Family / 2 Family

Price$1,324,000 ($400.24/SqFt)

Style2 Family - 2 Units Up/down

CitySomerville

CountyMiddlesex

MLS Area

Neighborhood(s)

Approximate Living Area Total3,308 SqFt

Approximate Lot Size (Acres)0.08 acres

Total Parking5

Garage Parking

Year Built1900

Year Built SourcePublic Records

Year Renovated

Year Built DetailsApproximate

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction MaterialsFrame, Stone

Lot FeaturesLevel

Foundation Area

Foundation DescriptionStone

Accessible Features

Outdoor Space

ZoningRA

Zoning Details

Water ViewsNo

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 24 Spencer Ave, Somerville MA 02144

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data Source

Total Gross Expenses By Broker$0

Total Gross Income By Broker$48,000

Total Net Income By Broker$48,000

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2.5

Facilitator Compensation2.5

Sub-Agent Compensation

Compensation Based OnNet Sale Price

Financial Information for 24 Spencer Ave, Somerville MA 02144

Real Estate Taxes$14,350

Tax Year2023

Assessed Value$1,387,800

Financial Data Source

Total Gross Expenses By Broker$0

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$48,000

BostonRealEstate.com Gross Income

Total Net Income By Broker$48,000

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)2.54%

Location Information for 24 Spencer Ave, Somerville MA 02144

Elementary SchoolKennedy

Middle SchoolKennedy

High SchoolSomerville High

Neighborhood(s)

MLS Area

Area AmenitiesWalk/jog Trails, Highway Access, House Of Worship, Public School, Shopping, Golf, Park, Medical Facility, Bike Path, Public Transportation, T-station, Private School, University, Sidewalks

Contact Information for 24 Spencer Ave, Somerville MA 02144

Agent

Name: The Synergy Group

Office

Name: The Synergy Group

Phone: 888-410-5454

Team Members

Name: Marie Montieth

Phone: 781-492-1023

Payment Calculator

, Interest

Property Taxes 1195.83

Principal & Interest 8158.07

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

The Synergy Group

Agent Phone

Office Phone

(888) 410-5454

Text Agent Call Agent Call Office

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    [description] => Don’t miss this lucrative opportunity for investors looking to convert Philly style 2 family into condos, rental investment or owner occupied with rents paying most of mortgage! Minutes to Davis & Porter Squares Red Line & Magoun Square Green Line MBTA stations. Highly desirable, large 3,308 sqft space, 6 beds, 2 baths on quiet, tree lined street. Unit 1 w/ 5 rooms, 2 beds, 1 bath. Unit 2 w/ 7 rooms, 4 beds, 1 bath. Both units feature spacious living rooms, dining rooms, kitchens w/ gas stoves, dishwashers & laundry in units. Large bedrooms w/ walk-in closets. High ceilings, hardwood floors, dentil molding & extensive storage in large closets. Private decks & fenced back yard. Shared walk out basement. Separate heating & electrical. Newer roof, gas furnace 2nd flr, hot water heaters, insulation & many appliances. Care free vinyl siding. Tenants pay $4K/ TAW. Easy commute to Tufts Univ & Boston. Walk to restaurants, parks, walking/biking path. Off street parking 5 cars
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EXIT

Closed

24 Spencer Ave, Somerville MA 02144

$1,324,000

Annual Expenses for 24 Spencer Ave, Somerville MA 02144

Annual Income & Unit Breakdown for 24 Spencer Ave, Somerville MA 02144

General Information for 24 Spencer Ave, Somerville MA 02144

Disclosures for 24 Spencer Ave, Somerville MA 02144

Financial Information for 24 Spencer Ave, Somerville MA 02144

Location Information for 24 Spencer Ave, Somerville MA 02144

Contact Information for 24 Spencer Ave, Somerville MA 02144

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The Synergy Group

The Synergy Group