Vacant Two-Family
New
For Sale
$849,900
17 Rush St., Somerville, MA 02145
Traditional architectural details and driveway parking accompany a flexible three-level residential layout.
Property Size2,060 SF
Price / SF$412.57
Days on Market4
Property Features for 17 Rush St.
General Information
Standard status
Active
Size
2,060 SF
Property subtype
2 Family - 2 Units Up/Down
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Building Size
2,060 SF
Year Built
1880
Buildings
1
Stories
3
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 13 at 9:35AM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This two-family duplex at 17 Rush Street contains 2,060 square feet across three levels and will be delivered vacant. The property includes two residential units, each with one bathroom, along with living and dining areas, kitchens, rear entry access, storage, and closet space. Existing interior features include high ceilings, bay window niches, natural light, original hardwood floors, ceiling medallions, and wide traditional casing. Built in 1880, the home offers a substantial existing structure for renovation or reconfiguration.
Off-street driveway parking is included. The property is near the MBTA East Somerville Green Line Extension and Sullivan Square Orange Line, with access to Assembly Row, Union Square, Broadway dining and retail, I-93, Cambridge, and downtown Boston.
Off-street driveway parking is included. The property is near the MBTA East Somerville Green Line Extension and Sullivan Square Orange Line, with access to Assembly Row, Union Square, Broadway dining and retail, I-93, Cambridge, and downtown Boston.
Key Highlights
- 2,060 SF two‑family duplex across three levels
- Delivered 100% vacant at closing
- Built in 1880
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
$43,590
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
5.13%
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%
$871,800
$871.8K
Cap Rate 7%
$622,714
$622.7K
Cap Rate 9%
$484,333
$484.3K
Market Conditions
NOI Build-Up for 2,060 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
$65.5K $31.80/SF
− Vacancy
−$3.2K −$1.57/SF
EGI
$62.3K $30.23/SF
− OpEx
−$18.7K −$9.07/SF
NOI
$43.6K $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%
$871,800
Cap Rate 7%
$622,714
Cap Rate 9%
$484,333
Alternative Uses
Best Use
Multifamily LT 5
$622.7K
$544.9K – $726.5K
NOI $43,590 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$585.5K
$512.3K – $683.1K
NOI $40,987 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,366 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,293
Businesses Nearby
Explore this area
Business Placement
Demographics for 02145, MA
27,520
Population
12,669
Households
2.2
Avg Household Size
33
Median Age
55%
College-Educated
89%
High-School Grad
1.4 sq mi
ZIP Area
19,657
Density / Sq Mi
$119,167
Median Household Income
$63,629
Median Earnings
$2,377
Median Rent
$784,900
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Traditional architectural details and driveway parking accompany a flexible three-level residential layout.
Where is this duplex located?
The property is located at 17 Rush St. Somerville, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 2,060 SF two‑family duplex across three levels; Delivered 100% vacant at closing; Built in 1880
