Duplex with In-Law
For Sale
$409,000
Pending
2 Leominster Rd, Dedham, MA 02026
Two residential units support extended-family living or income-producing use on a corner lot.
Property Size2,183 SF
Days on Market779
Property Features for 2 Leominster Rd
General Information
Standard status
Pending
Size
2,183 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,810
Listing Agency:
Keller Williams Realty
(781) 389-7252
Listed By:
Cidalia Mendonca Matukas
(781) 389-7252
Source:
Exprealty
Added: Jul 15, 2024
Changed: Aug 30
Last Checked: Aug 31 at 6:32PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 2,183-square-foot duplex at 2 Leominster Rd in Dedham, MA includes an in-law arrangement and two residential living areas. Hardwood flooring, naturally bright rooms, and a spacious corner lot add practical character to the property. The configuration accommodates extended-family use while also supporting residential income potential.
The property is positioned near local amenities, providing convenient access to everyday services. Its combination of two-home functionality, flexible household arrangement, and substantial interior space creates a residential income property suited to multiple occupancy needs.
The property is positioned near local amenities, providing convenient access to everyday services. Its combination of two-home functionality, flexible household arrangement, and substantial interior space creates a residential income property suited to multiple occupancy needs.
Key Highlights
- 2,183‑square‑foot duplex in Dedham, MA
- Two‑home configuration with an in‑law arrangement
- Large corner lot
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
$36,081
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
8.82%
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%
$721,620
$721.6K
Cap Rate 7%
$515,443
$515.4K
Cap Rate 9%
$400,900
$400.9K
Market Conditions
NOI Build-Up for 2,183 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
$69.4K $31.80/SF
− Vacancy
−$3.8K −$1.75/SF
EGI
$65.6K $30.05/SF
− OpEx
−$29.5K −$13.52/SF
NOI
$36.1K $16.53/SF
Area
Norfolk County, MA
Vacancy
5.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$721,620
Cap Rate 7%
$515,443
Cap Rate 9%
$400,900
Alternative Uses
Best Use
Multifamily LT 5
$558.6K
$488.8K – $651.8K
NOI $39,105 @ 7.0% cap · market cap 9.56%
Second Best
Apartment 5plus
$515.4K
$451.0K – $601.4K
NOI $36,081 @ 7.0% cap · market cap 8.82%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,463 @ 7.0% cap · market cap 22.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 02026, MA
25,364
Population
10,648
Households
2.4
Avg Household Size
43
Median Age
55%
College-Educated
94%
High-School Grad
10.3 sq mi
ZIP Area
2,463
Density / Sq Mi
$124,375
Median Household Income
$74,594
Median Earnings
$2,058
Median Rent
$630,400
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 - Two residential units support extended-family living or income-producing use on a corner lot.
Where is this duplex located?
The property is located at 2 Leominster Rd Dedham, MA.
What is the asking price?
The asking price for this property is $409,000.
What are key features of this property?
This property features: 2,183‑square‑foot duplex in Dedham, MA; Two‑home configuration with an in‑law arrangement; Large corner lot
