Two-Unit Duplex with
For Sale
$1,274,000
17-19 Dimick Street, Somerville, MA 02143
Vacant residential income property with separate utilities, gas heating systems, and a full unfinished basement.
Property Size2,855 SF
Price / SF$446.23
Days on Market193
Property Features for 17-19 Dimick Street
General Information
Standard status
Active
Size
2,855 SF
Total Parking Spaces
3
Property subtype
Multi-family / 2 Family
Zoning
RB
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$15,436
Amenities
No
Dishwasher, Disposal, Microwave, Refrigerator, Freezer, Range
3.0
Full
Living Room, Kitchen, Sunroom
3
3.00
Level
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Nissenbaum, REALTORS
(617) 776-2016
Listed By:
Jeremy Nissenbaum · License #109962
(617) 776-2016
Source:
Compass
Added: Feb 20
Changed: Aug 30
Last Checked: Aug 31 at 9:52PM
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 Nissenbaum, REALTORS
Investment Insights
Based on property information with market context.
Built in 1910, this 2,855-square-foot duplex contains two distinct vacant units with 6+ bedrooms and 3 full baths in total. Each unit includes an eat-in kitchen, while the property also offers hardwood floors, tile baths, separate gas heating systems, and separate utilities. A full unfinished basement, small garage, and parking for two cars add functional storage and parking capacity. The property is zoned RB and sits on a level lot.
The home is located at 17-19 Dimick Street in Somerville, near Inman Square, Harvard University, MIT, The Red Line, Whole Foods, restaurants, and cafes. A stated walk score of 95% reflects the property's access to nearby amenities and transportation.
The home is located at 17-19 Dimick Street in Somerville, near Inman Square, Harvard University, MIT, The Red Line, Whole Foods, restaurants, and cafes. A stated walk score of 95% reflects the property's access to nearby amenities and transportation.
Key Highlights
- Two distinct vacant units with 6+ bedrooms and 3 full baths
- 2,855 SF duplex built in 1910
- Separate gas heating systems and utilities for each unit
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
$60,413
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
4.74%
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%
$1,208,260
$1.2M
Cap Rate 7%
$863,043
$863.0K
Cap Rate 9%
$671,256
$671.3K
Market Conditions
NOI Build-Up for 2,855 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
$90.8K $31.80/SF
− Vacancy
−$4.5K −$1.57/SF
EGI
$86.3K $30.23/SF
− OpEx
−$25.9K −$9.07/SF
NOI
$60.4K $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%
$1,208,260
Cap Rate 7%
$863,043
Cap Rate 9%
$671,256
Alternative Uses
Best Use
Multifamily LT 5
$863.0K
$755.2K – $1.01M
NOI $60,413 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$811.5K
$710.1K – $946.8K
NOI $56,805 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,310 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 02143, MA
26,022
Population
12,901
Households
2
Avg Household Size
33
Median Age
74%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
17,348
Density / Sq Mi
$126,102
Median Household Income
$73,055
Median Earnings
$2,424
Median Rent
$930,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant residential income property with separate utilities, gas heating systems, and a full unfinished basement.
Where is this duplex located?
The property is located at 17-19 Dimick Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,274,000.
What are key features of this property?
This property features: Two distinct vacant units with 6+ bedrooms and 3 full baths; 2,855 SF duplex built in 1910; Separate gas heating systems and utilities for each unit
