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$1,700,000

Sale Pending
10 Hancock St, Somerville, MA 02144
8 Beds
3 Baths
3,227 Square Feet
0.07 Acres Lot
Built in 1920
Sale Pending
2 Units
Checked: 9 hours ago
Updated: Jul 09, 2025 at 03:02AM

Investment Summary


Monthly Cash Flow
-$6,674
Cap Rate
1.0%
Cash-on-Cash Return
-20.5%
Debt Coverage Ratio
0.17
Internal Rate of Return (5 years)
-15.8%

Property Description


0.07 Acres Lot
Built in 1920
Sale Pending
2 Units

LOCATION! LOCATION! LOCATION! This well-maintained two-family is a prime investment opportunity. On-Street permit parking. Delivered with tenants, this property has had excellent rents over the years with a combined monthly rental income of $8350 through Aug 2025! Unit #1 - leased for $3,150/mo - is a 3 bedroom, 1 bath floor- Unit #2  - leased for $5200/mo - is a 5 bedroom, 2 bath floor, both units have modern Kitchens, large bedrooms with tall ceilings, hardwood floor, individual washer&dryer ,private porches and separate heating systems. There is also a cozy shared garden in the backyard. It sits on a quiet street adjacent to Porter Square. Minutes to Red Line T Stop, Star Market, Starbucks , Michaels and restaurants. Come to see this rare investment property. Offer deadline is 5pm 6/10.

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Location


Property Details


Parking

  • Description: On Street
  • Details: Off Street
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 8

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 12
  • # of Stories: 3
  • Basement: Yes
  • Basement Description: Full, Unfinished

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Foundation: Stone, Brick/Mortar
  • Roof Type: Gable
  • Roof Material: Shingle

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: SOMEM:30B:CL:17
  • Lot Size: 3213 sqft

Property Information

  • Property Type: Duplex
  • Year Built: 1920

Tax Information

  • Annual Tax: $17,493

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air

Location

  • County: Middlesex

Investment Summary


Monthly Cash Flow
-$6,674
Cap Rate
1.0%
Cash-on-Cash Return
-20.5%
Debt Coverage Ratio
0.17
Internal Rate of Return (5 years)
-15.8%

Purchase Details

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Purchase price:
$1,700,000
Amount financed:
-$1,360,000
Down payment:
$340,000
Closing costs:
$51,000
Rehab costs:
$0
Initial cash invested:
$391,000
Square feet:
3,227
Cost per square foot:
$527
Monthly rent per square foot:
$1.27

Financing Details

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Loan amount:
$1,360,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$8,045
Property tax:
$1,458
Insurance:
$287
Private mortgage insurance (PMI):
$0
Monthly payment:
$9,790

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,100 $49,200
Vacancy loss: (6%)
6% -$246 -$2,952
Operating income:
$3,854 $46,248

Operating Expenses


% Rent Monthly Yearly
Property taxes: (36%)
36%-$1,458-$17,494
Insurance: (7%)
7%-$287-$3,444
Property management: (8%)
8%-$328-$3,936
Repairs & maintenance: (5%)
5%-$205-$2,460
Capital expenditures: (5%)
5%-$205-$2,460
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (61%)
61%-$2,483-$29,794

Cash Flow


Monthly Yearly
Net operating income:
$1,371 $16,452
Mortgage payments:
-$8,045 -$96,540
Cash flow:
$6,674 $80,088