Building Details

Year Built 1900

Listing Agency: Robert Ciccarelli, Ciccarelli Homes

Listed By: The Kristin Gennetti Group Show Phone

Source: Kristingennetti

Added: Aug 26 Changed: Oct 13 Last Checked: Oct 16 at 9:24AM

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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 Robert Ciccarelli, Ciccarelli Homes

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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.

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 / Yr

$50,721

Cap Rate

5.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,014,420 $1.0M

Cap Rate 7%

$724,586 $724.6K

Cap Rate 9%

$563,567 $563.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,397 SF

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 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 (±1% cap)

NOI $50,721 @ 7.0% cap · market cap 5.64%

Second Best

Apartment 5plus

$681.3K

$596.2K – $794.9K (±1% cap)

NOI $47,692 @ 7.0% cap · market cap 5.30%

Theoretical Best

Office A

$1.42M

$1.24M – $1.66M (±1% cap)

NOI $99,331 @ 7.0% cap · market cap 11.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Law Firm Nail Salon Accounting Firm Cosmetic Store Spa & Massage Center Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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 $899,900.

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