Duplex with Period
New
For Sale
$1,699,000
89 Dover St, Somerville, MA 02144
Two-family zoning and a flexible layout support the property’s current single-family configuration with a rental unit.
Property Size2,779 SF
Days on Market2
Property Features for 89 Dover St
General Information
Standard status
Active
Size
2,779 SF
Total Parking Spaces
6
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$19,048
Building Details
Building Size
2,779 SF
Year Built
1900
Listing Agency:
Coldwell Banker Realty - Newton
Listed By:
McKenzie Howarth · License #449595623
(617) 969-2447
Source:
Classifiedrealtygroup
Added: Sep 30
Last Checked: Oct 1 at 8:44AM
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 Coldwell Banker Realty - Newton
Investment Insights
Based on property information with market context.
Built in 1900, this five-bedroom, three-bath duplex features substantial woodwork, detailed fireplaces, moldings and generously sized rooms. The property is zoned for two-family use and is currently configured as a single-family home with a rental unit. Its lot includes a private driveway with six off-street parking spaces, and the interior retains period architectural details alongside an oversized kitchen.
At 89 Dover St in Somerville, the Davis Square MBTA Red Line station is at the end of the street. Restaurants, shops, entertainment, Tufts University, Porter Square, parks and the Somerville Community Path are also nearby.
At 89 Dover St in Somerville, the Davis Square MBTA Red Line station is at the end of the street. Restaurants, shops, entertainment, Tufts University, Porter Square, parks and the Somerville Community Path are also nearby.
Key Highlights
- Five bedrooms and three bathrooms in a home built in 1900
- Zoned for two‑family use; currently configured as a single‑family home with a rental unit
- Six off‑street parking spaces in a private driveway
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
$58,805
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
3.46%
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%
$1,176,100
$1.2M
Cap Rate 7%
$840,071
$840.1K
Cap Rate 9%
$653,389
$653.4K
Market Conditions
NOI Build-Up for 2,779 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
$88.4K $31.80/SF
− Vacancy
−$4.4K −$1.57/SF
EGI
$84.0K $30.23/SF
− OpEx
−$25.2K −$9.07/SF
NOI
$58.8K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$1,176,100
Cap Rate 7%
$840,071
Cap Rate 9%
$653,389
Alternative Uses
Best Use
Multifamily LT 5
$840.1K
$735.1K – $980.1K
NOI $58,805 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$789.9K
$691.2K – $921.6K
NOI $55,293 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,161 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family zoning and a flexible layout support the property’s current single-family configuration with a rental unit.
Where is this duplex located?
The property is located at 89 Dover St Somerville, MA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Five bedrooms and three bathrooms in a home built in 1900; Zoned for two‑family use; currently configured as a single‑family home with a rental unit; Six off‑street parking spaces in a private driveway
