Victorian Triplex with Carriage
For Sale
$1,649,900
9 Dartmouth Street, Somerville, MA 02145
Renovated kitchens and baths complement solar panels, original architectural details, and recent building-system improvements.
Property Size3,028 SF
Price / SF$544.88
Days on Market169
Property Features for 9 Dartmouth Street
General Information
Standard status
Active
Size
3,028 SF
Total Parking Spaces
4
Property subtype
Multi-family / 3 Family
Zoning
RA
Net Operating Income
$111,600
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,538
Amenities
wrap around front porch
solar panels
No
Wood
3.0
Insulated Windows
Full, Bulkhead, Concrete Floor, Unfinished Basement
3
3.00
Frame
Shingle
Other
Porch
Building Details
Year Built
1920
Buildings
2
Construction
Victorian
Listing Agency:
Steve Bremis Realty Group
(617) 828-1070
Listed By:
The Steve Bremis Team · License #128686
(617) 828-1070
Source:
Compass
Added: Mar 18
Changed: Sep 1
Last Checked: Aug 31 at 10:27PM
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 Steve Bremis Realty Group
Investment Insights
Based on property information with market context.
This 1920-built Victorian triplex includes 3,028 square feet along with a detached two-story carriage house measuring 856 square feet and featuring a loft. The carriage house is supported by structural engineering plans, sprinkler plans, and a contractor estimate for conversion to a fourth unit ADU. Interior character includes Bostonian moldings, medallion ceilings, original oak parquet flooring, and a wraparound front porch. Extensive kitchen and bath renovations complement insulated windows, dense-pack cellulose wall insulation installed in 2015, and a metal roof with solar panels from 2015.
Recent property work includes full plumbing replacement completed during 2025-26, 3 new furnaces in 2026, 3 new hot water tanks installed during 2023-26, broad interior and exterior painting from 2023-26, and a new sump and dehumidifier in 2025. The property is zoned RA and sits less than a quarter mile from the Green Line. Walk Score is 91 and Bike Score is 94.
Recent property work includes full plumbing replacement completed during 2025-26, 3 new furnaces in 2026, 3 new hot water tanks installed during 2023-26, broad interior and exterior painting from 2023-26, and a new sump and dehumidifier in 2025. The property is zoned RA and sits less than a quarter mile from the Green Line. Walk Score is 91 and Bike Score is 94.
Key Highlights
- 3,028‑square‑foot triplex with a detached two‑story 856 square foot carriage house and loft
- Plans and contractor estimate support potential conversion of the carriage house to a fourth unit ADU
- Metal roof with solar panels installed in 2015
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
$64,074
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
3.88%
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%
$1,281,480
$1.3M
Cap Rate 7%
$915,343
$915.3K
Cap Rate 9%
$711,933
$711.9K
Market Conditions
NOI Build-Up for 3,028 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
$96.3K $31.80/SF
− Vacancy
−$4.8K −$1.57/SF
EGI
$91.5K $30.23/SF
− OpEx
−$27.5K −$9.07/SF
NOI
$64.1K $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%
$1,281,480
Cap Rate 7%
$915,343
Cap Rate 9%
$711,933
Alternative Uses
Best Use
Multifamily LT 5
$915.3K
$800.9K – $1.07M
NOI $64,074 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$860.7K
$753.1K – $1.00M
NOI $60,247 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,480 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 02145, MA
27,520
Population
12,669
Households
2.2
Avg Household Size
33
Median Age
55%
College-Educated
89%
High-School Grad
1.4 sq mi
ZIP Area
19,657
Density / Sq Mi
$119,167
Median Household Income
$63,629
Median Earnings
$2,377
Median Rent
$784,900
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?
Triplex - Renovated kitchens and baths complement solar panels, original architectural details, and recent building-system improvements.
Where is this triplex located?
The property is located at 9 Dartmouth Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,649,900.
What are key features of this property?
This property features: 3,028‑square‑foot triplex with a detached two‑story 856 square foot carriage house and loft; Plans and contractor estimate support potential conversion of the carriage house to a fourth unit ADU; Metal roof with solar panels installed in 2015
