Renovated Two-Family
For Sale
$1,195,000
Pending
134 King St, Groveland, MA 01834
Renovated two-unit home with breezeway connection, versatile in-law potential, and substantial living and storage space.
Property Size4,300 SF
Lot Size1.23 Acres
Days on Market97
Property Features for 134 King St
General Information
Standard status
Pending
Size
4,300 SF
Lot size
1.23 Acres
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1723
Listing Agency:
Keller Williams Realty
(978) 475-2111
Listed By:
Vivien Marcus
(978) 994-3412
Source:
Lockandkeyre
Added: Jun 1
Changed: Aug 22
Last Checked: Aug 21 at 8:48AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
134 King St is a renovated 2-family residence built in 1723, offering approximately 4,300 square feet of living space. The two units are attached by a breezeway, supporting flexible multi-generational or separate-tenant living arrangements. The main house includes four bedrooms, while the second 2-bedroom unit features vaulted ceilings and skylights.
The property sits on a flat 1.23-acre lot, providing substantial outdoor space. Parking and storage are supported by a two-car garage/barn, along with a large heated loft space.
For tenants or buyers seeking a setup beyond a simple single-family layout, the attached configuration and breezeway make the home well-suited for an in-law arrangement while still offering distinct unit living. The combination of multiple bedrooms, large interior volume, and heated loft storage also aligns with households that prioritize additional space for belongings or hobbies alongside day-to-day comfort.
The property sits on a flat 1.23-acre lot, providing substantial outdoor space. Parking and storage are supported by a two-car garage/barn, along with a large heated loft space.
For tenants or buyers seeking a setup beyond a simple single-family layout, the attached configuration and breezeway make the home well-suited for an in-law arrangement while still offering distinct unit living. The combination of multiple bedrooms, large interior volume, and heated loft storage also aligns with households that prioritize additional space for belongings or hobbies alongside day-to-day comfort.
Key Highlights
- Renovated 2‑family residence built in 1723 with approx. 4,300 sq ft of living space
- Units are attached by a breezeway for easy multi‑unit living
- One unit features vaulted ceilings and skylights (2 bedrooms, in‑law potential)
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
$72,439
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
6.06%
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%
$1,448,780
$1.4M
Cap Rate 7%
$1,034,843
$1.0M
Cap Rate 9%
$804,878
$804.9K
Market Conditions
NOI Build-Up for 4,300 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
$108.4K $25.20/SF
− Vacancy
−$4.9K −$1.13/SF
EGI
$103.5K $24.07/SF
− OpEx
−$31.0K −$7.22/SF
NOI
$72.4K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /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%
$1,448,780
Cap Rate 7%
$1,034,843
Cap Rate 9%
$804,878
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$905.5K – $1.21M
NOI $72,439 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$934.1K
$817.4K – $1.09M
NOI $65,388 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,191 @ 7.0% cap · market cap 14.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 01834, MA
6,752
Population
2,756
Households
2.4
Avg Household Size
46
Median Age
46%
College-Educated
97%
High-School Grad
8.9 sq mi
ZIP Area
759
Density / Sq Mi
$135,521
Median Household Income
$79,521
Median Earnings
$1,815
Median Rent
$571,900
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?
Duplex - Renovated two-unit home with breezeway connection, versatile in-law potential, and substantial living and storage space.
Where is this duplex located?
The property is located at 134 King St Groveland, MA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Renovated 2‑family residence built in 1723 with approx. 4,300 sq ft of living space; Units are attached by a breezeway for easy multi‑unit living; One unit features vaulted ceilings and skylights (2 bedrooms, in‑law potential)
