CCertihomes
241 Highland Ave, Somerville, MA 02143

$1,790,000

5 beds 3 baths 4,247 sqft Built 190043 days on marketActive

About this home

This meticulously maintained three-family building boasts a prime location and is fully leased to a vibrant community of young professionals. Additionally, it features coveted retail space on the ground floor, across from Somerville Hospital, offering endless possibilities for entrepreneurial ventures. Key Features: Fully Leased: Enjoy immediate returns on your investment with all three residential units occupied by young professionals. This ensures a steady stream of rental income from day one. Prime Location: Situated in the heart of Somerville, this property benefits from the bustling atmosphere of Highland Ave. With convenient access to public transportation, restaurants, and amenities, it attracts tenants seeking convenience and lifestyle. RETAIL SPACE: The first floor presents an exciting opportunity for retail businesses to thrive across from Somerville Hospital. Whether it's a cozy cafe, boutique shop, or professional office, this versatile space offers endless pot

Affordability — calculate your monthly payment

Adjust your budget to see what's left after housing, utilities and transportation. Numbers below assume a 5% down, 30YrJumbo at 4% APR.

Your estimated payment
$11,190/mo

Real estate (PITI + HOA + PMI)
$11,275
Principal + interest$8,118
Property tax + insurance$2,486
PMI / 2nd mortgage$671
Utilities
$725
Heating + cooling$201
Internet + TV + phone$157
Water + sewer + garbage$58
Transportation
$120
Car insurance + maintenance$120
Other (entertainment)
$157
$11,190/mo TLC
Budget$11,690/mo
Remaining after TLC$500/mo
Purchase price
$1,790,000
Down payment
$89,500 (5%)
Loan amount
$1,700,500
APR
4%

Quick facts

Type
3 Family - 3 Units Up/Down
Style
Year built
1900
Lot size
0.07 ac
Stories
9
Heating
Natural Gas
Cooling
Water
Public
HOA
Annual tax
$8,566
MLS #
73221310
County
Middlesex

At a glance

Garage (1)

Home features

Sewer
Public Sewer

Neighborhood — 02143

MetricThis ZIPCountyUSA
Population25,9986,444,931299,088,112
Population Change Since1990-2.00%7.00%20.00%
Population Density16,860786
Male12,8553,127,134147,432,321
Female13,1433,317,797151,655,844
Never Married12,0511,612,88563,775,926
Married7,2382,586,314123,120,365
Separated1,155247,85712,639,686
Widowed1,217363,59415,467,586
Divorced1,491436,88823,075,029
Number Of House Hold11,4432,431,591111,826,380
Average House Hold Size2.232.562.60
Medial Age32.9637.2535.46
Median House Hold Income$49,818$57,698$48,276
Average House Hold Income$56,671$75,023$63,629
P C I$25,726$29,196$24,529
M D I$42,538$48,105$41,133
A T H E$47,532$57,083$50,898
S T R5.00%5.00%
W C J76.32%81.38%77.74%
(Zip) Code
2143

Data via Certihomes neighborhood index. Comparisons across this ZIP, county and the United States.

Map & walkability

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MLSPIN

Listing information last refreshed 4/8/2024. Provided courtesy of the listing office via MLSPIN. Information deemed reliable but not guaranteed.