2-Unit Duplex with Separate
New
For Sale
$999,900
9-11 Carter Terrace, Somerville, MA 02143
Two-level residential income property with off-street parking, a backyard, and distinct utility service for each unit.
Property Size2,397 SF
Price / SF$417.15
Days on Market6
Property Features for 9-11 Carter Terrace
General Information
Standard status
Active
Size
2,397 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Aditi Jain, Redfin Corp
(781) 704-7040
Listed By:
The Kristin Gennetti Group
(781) 704-7040
Source:
Kristingennetti
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 3:08PM
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 Aditi Jain, Redfin Corp
Investment Insights
Based on property information with market context.
This 2,397-square-foot duplex at 9-11 Carter Terrace contains two residential units and was built in 1900. The first-floor unit offers a living room, dining room, kitchen, two bedrooms, a full bath, and a rear porch. The upper unit follows a similar arrangement with three bedrooms. Both residences feature tall ceilings, built-in hutches, pantries, and hardwood floors. Gas heating, separate utilities, off-street parking, and a backyard are also included.
The property sits on a dead-end street off Summer Street in Somerville. Schools, shops, restaurants, the Bike Path, MBTA service, Davis Square, Porter Square, and Boston are identified as nearby destinations. Delivery will be vacant, and the sale includes the remaining contents on an as-is basis.
The property sits on a dead-end street off Summer Street in Somerville. Schools, shops, restaurants, the Bike Path, MBTA service, Davis Square, Porter Square, and Boston are identified as nearby destinations. Delivery will be vacant, and the sale includes the remaining contents on an as-is basis.
Key Highlights
- 2,397‑square‑foot duplex at 9‑11 Carter Terrace
- Two residential units with 2‑bedroom and 3‑bedroom layouts
- Separate utilities and gas heating
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
$50,721
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
5.07%
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%
$1,014,420
$1.0M
Cap Rate 7%
$724,586
$724.6K
Cap Rate 9%
$563,567
$563.6K
Market Conditions
NOI Build-Up for 2,397 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
$76.2K $31.80/SF
− Vacancy
−$3.8K −$1.57/SF
EGI
$72.5K $30.23/SF
− OpEx
−$21.7K −$9.07/SF
NOI
$50.7K $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%
$1,014,420
Cap Rate 7%
$724,586
Cap Rate 9%
$563,567
Alternative Uses
Best Use
Multifamily LT 5
$724.6K
$634.0K – $845.4K
NOI $50,721 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$681.3K
$596.2K – $794.9K
NOI $47,692 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,331 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,457
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level residential income property with off-street parking, a backyard, and distinct utility service for each unit.
Where is this duplex located?
The property is located at 9-11 Carter Terrace Somerville, MA.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: 2,397‑square‑foot duplex at 9‑11 Carter Terrace; Two residential units with 2‑bedroom and 3‑bedroom layouts; Separate utilities and gas heating
