Duplex with In-Law
For Sale
$409,000
Pending
2 Leominster Rd, Dedham, MA 02026
Residential Income, Dedham, MA
Property Size2,183 SF
Lot Size0.17 Acres
Days on Market4860
Property Features for 2 Leominster Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
res
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Parking
2
Fireplace
1
Elementary school
Greenlodge
Middle school
Dedham Middle
High school
Dedham High
Directions
Sprague to Durham to Kennsington to Leominster
Standard status
Pending
APN
M:0171 L:0036,74047
Size
2,183 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2013
Tax Annual Amount
4810
Building Details
Year built
1960
Floors in Building
4
Number of units
2
Listing Agency:
Keller Williams Realty
(508) 238-5000
Listed By:
Scott Morris
(508) 238-5000
Added: May 1, 2013
Changed: Aug 19
Last Checked: Aug 20 at 7:06PM
MLS# 71519000
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,183-square-foot duplex was built in 1960 and includes an in-law configuration suited to the property’s two-home layout. Interior features include hardwood flooring, abundant natural light, and a fireplace. The residence also offers multiple bedrooms and bathrooms, supporting flexible household arrangements within the existing configuration.
The property occupies a 0.168-acre corner lot at 2 Leominster Rd in Dedham, Massachusetts. Residential zoning applies, and the location is identified within Norfolk County. The combination of duplex design, in-law accommodations, and established interior features provides a range of residential occupancy possibilities without introducing changes to the existing property description.
The property occupies a 0.168-acre corner lot at 2 Leominster Rd in Dedham, Massachusetts. Residential zoning applies, and the location is identified within Norfolk County. The combination of duplex design, in-law accommodations, and established interior features provides a range of residential occupancy possibilities without introducing changes to the existing property description.
Key Highlights
- Duplex with an in‑law configuration
- 2,183 square feet of property size
- 0.168‑acre 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 - Residentially zoned duplex with hardwood floors, natural light, and a fireplace 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: Duplex with an in‑law configuration; 2,183 square feet of property size; 0.168‑acre corner lot
