Two-Family Duplex with
New
For Sale
$1,350,000
20 Lovell Street, Somerville, MA 02144
Two living units feature hardwood floors, separate laundry, spacious rooms, and access to outdoor space.
Property Size3,056 SF
Price / SF$441.75
Days on Market3
Property Features for 20 Lovell Street
General Information
Standard status
Active
Size
3,056 SF
Total Parking Spaces
2
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
washer/dryer in each unit
deck
yard
Building Details
Year Built
1884
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Warren Residential
Listed By:
Daniela Cafaro
(617) 396-3100
Source:
Longwoodresidential
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 9 at 3:54PM
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 Berkshire Hathaway HomeServices Warren Residential
Investment Insights
Based on property information with market context.
This two-family duplex contains 3056 square feet of living area across two residences. The first-floor unit has two bedrooms and one full bathroom, while the upper duplex includes three bedrooms and one full bathroom. Both units offer hardwood flooring, roomy living and dining areas, and their own washer and dryer. A deck and yard extend the usable space outdoors, while the driveway accommodates two tandem vehicles.
The property is located in Teele Square, near restaurants, shops, parks, and public transportation. Davis Square is minutes away, providing additional access to local amenities and transit connections. Built in 1884, the residence presents a two-unit configuration with established interior features and outdoor space.
The property is located in Teele Square, near restaurants, shops, parks, and public transportation. Davis Square is minutes away, providing additional access to local amenities and transit connections. Built in 1884, the residence presents a two-unit configuration with established interior features and outdoor space.
Key Highlights
- 3056 square feet arranged as two residential units
- Five bedrooms and two full bathrooms total
- First‑floor unit with 2 bedrooms; upper duplex with 3 bedrooms
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
$64,666
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
4.79%
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%
$1,293,320
$1.3M
Cap Rate 7%
$923,800
$923.8K
Cap Rate 9%
$718,511
$718.5K
Market Conditions
NOI Build-Up for 3,056 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
$97.2K $31.80/SF
− Vacancy
−$4.8K −$1.57/SF
EGI
$92.4K $30.23/SF
− OpEx
−$27.7K −$9.07/SF
NOI
$64.7K $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%
$1,293,320
Cap Rate 7%
$923,800
Cap Rate 9%
$718,511
Alternative Uses
Best Use
Multifamily LT 5
$923.8K
$808.3K – $1.08M
NOI $64,666 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$868.6K
$760.1K – $1.01M
NOI $60,804 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,640 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,106
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
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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 living units feature hardwood floors, separate laundry, spacious rooms, and access to outdoor space.
Where is this duplex located?
The property is located at 20 Lovell Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 3056 square feet arranged as two residential units; Five bedrooms and two full bathrooms total; First‑floor unit with 2 bedrooms; upper duplex with 3 bedrooms
