Renovated Duplex with Private
For Sale
$1,550,000
Pending
403-405 Reedsdale Road, Milton, MA 02186
MULTI_FAMILY - Milton, MA
Property Size2,935 SF
Lot Size0.22 Acres
Days on Market106
Property Features for 403-405 Reedsdale Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
RC
Bedrooms
10
Bathrooms
6
Full bathrooms
4
Half bathrooms
4
Rooms
Bathroom 7, Bedroom 9, Bedroom 5, Bedroom 3, Bedroom 7, Bedroom 6, Bathroom 6, Bedroom 4, Bathroom 8, Basement, Bedroom 2, Bathroom 3, Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 10, Bedroom 8, Bathroom 5, Bedroom 1
Exterior features
Private Yard
Appliances
Water Heater
Elementary school district
Milton
Middle school district
Milton
High school district
Milton
Directions
Route 3 North to Route 28 Milton. Follow Route 28 and take a right onto Reedsdale Road.
Subdivision
Milton
Standard status
Pending
Size
2,935 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
12827
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Flooring type
Tile, Wood
Building materials
Aluminum Siding
Roof type
Asphalt
Listing Agency:
Kelley & Rege Properties, Inc.
(617) 696-6100
Listed By:
Paul Rege · License #449502080
(617) 620-6153
Added: Apr 30
Changed: Aug 4
Last Checked: Aug 13 at 3:06AM
MLS# 22601862
Copyright © 2026 Cape Cod & Islands Association of REALTORS®, 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 renovated duplex (2016) is arranged across three levels with a total of 10 rooms, including 6 bedrooms and 4 full and 2 half baths. The main level offers an open-concept living and dining area, a spacious kitchen with stainless steel appliances and granite countertops, plus first-floor laundry. Upstairs, the second floor includes two bedrooms and two full baths, and the third-floor bedroom is set up as a private retreat with a walk-in closet. An unfinished basement provides storage and potential for future expansion.
Set on a 0.22-acre lot with a private yard, the home is served by public water and public sewer. The property is heated with natural gas and cooled with central air. Flooring includes wood and tile, with aluminum siding and an asphalt roof.
The address is 403-405 Reedsdale Road in Milton, Massachusetts, offering easy highway access and proximity to Milton Academy and local public schools. Nearby amenities include Blue Hills Reservation scenic trails, Cunningham Park ballfields and pool, and the shops and dining of East Milton Square.
Set on a 0.22-acre lot with a private yard, the home is served by public water and public sewer. The property is heated with natural gas and cooled with central air. Flooring includes wood and tile, with aluminum siding and an asphalt roof.
The address is 403-405 Reedsdale Road in Milton, Massachusetts, offering easy highway access and proximity to Milton Academy and local public schools. Nearby amenities include Blue Hills Reservation scenic trails, Cunningham Park ballfields and pool, and the shops and dining of East Milton Square.
Key Highlights
- Renovated duplex (2016) with 10 rooms, 6 bedrooms, and 4 full and 2 half baths
- Open‑concept main level with kitchen featuring stainless steel appliances and granite countertops
- Private yard on a 0.22‑acre 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
$52,576
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
3.39%
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%
$1,051,520
$1.1M
Cap Rate 7%
$751,086
$751.1K
Cap Rate 9%
$584,178
$584.2K
Market Conditions
NOI Build-Up for 2,935 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
$79.2K $27.00/SF
− Vacancy
−$4.1K −$1.41/SF
EGI
$75.1K $25.59/SF
− OpEx
−$22.5K −$7.68/SF
NOI
$52.6K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$1,051,520
Cap Rate 7%
$751,086
Cap Rate 9%
$584,178
Alternative Uses
Best Use
Multifamily LT 5
$751.1K
$657.2K – $876.3K
NOI $52,576 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$693.0K
$606.4K – $808.5K
NOI $48,510 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,626 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
Explore this area
Business Placement
Demographics for 02186, MA
28,637
Population
9,447
Households
3
Avg Household Size
41
Median Age
70%
College-Educated
96%
High-School Grad
13.7 sq mi
ZIP Area
2,090
Density / Sq Mi
$177,222
Median Household Income
$83,510
Median Earnings
$1,545
Median Rent
$896,500
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 - Renovated duplex featuring a private yard, central air, and an unfinished basement for storage or future expansion.
Where is this duplex located?
The property is located at 403-405 Reedsdale Road Milton, MA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Renovated duplex (2016) with 10 rooms, 6 bedrooms, and 4 full and 2 half baths; Open‑concept main level with kitchen featuring stainless steel appliances and granite countertops; Private yard on a 0.22‑acre lot
