Victorian
New
For Sale
$719,000
56 Warren Ave, Marlborough, MA 01752
Two residences include hardwood flooring, dishwashers, shared laundry, and separate basement storage.
Property Size2,208 SF
Days on Market6
Property Features for 56 Warren Ave
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,350
Amenities
hardwood floors
dishwashers
private deck and patio
walk-up unfinished attic space
common laundry
separate storage units
Building Details
Building Size
2,208 SF
Year Built
1880
Stories
4
Units
2
Construction
Victorian
Listed By:
The Semple & Hettrich Team
(978) 831-3766
Source:
Elliman
Added: Sep 28
Changed: Oct 3
Last Checked: Oct 2 at 11:45PM
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 The Semple & Hettrich Team
Investment Insights
Based on property information with market context.
Built in 1880, this Victorian duplex contains two units with hardwood floors, kitchens equipped with dishwashers, and abundant natural light. Shared amenities include laundry and individual basement storage areas, while outdoor features include off-street parking, a deck, and a patio. Walk-up attic space is unfinished.
Improvements include more than 40 replacement windows, a new roof and boilers, updated bathrooms, and reconstruction of the front porch and rear deck. The foundation was repointed in 2018, and the exterior was painted in 2019.
The property is near downtown shops, restaurants, and attractions, as well as major routes and commuter rail.
Improvements include more than 40 replacement windows, a new roof and boilers, updated bathrooms, and reconstruction of the front porch and rear deck. The foundation was repointed in 2018, and the exterior was painted in 2019.
The property is near downtown shops, restaurants, and attractions, as well as major routes and commuter rail.
Key Highlights
- Two‑unit Victorian property built in 1880
- More than 40 new windows, plus a new roof and boilers
- Foundation repointed in 2018; exterior painted in 2019
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
$46,722
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
6.50%
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%
$934,440
$934.4K
Cap Rate 7%
$667,457
$667.5K
Cap Rate 9%
$519,133
$519.1K
Market Conditions
NOI Build-Up for 2,208 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
$70.2K $31.80/SF
− Vacancy
−$3.5K −$1.57/SF
EGI
$66.7K $30.23/SF
− OpEx
−$20.0K −$9.07/SF
NOI
$46.7K $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%
$934,440
Cap Rate 7%
$667,457
Cap Rate 9%
$519,133
Alternative Uses
Best Use
Multifamily LT 5
$667.5K
$584.0K – $778.7K
NOI $46,722 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$627.6K
$549.2K – $732.2K
NOI $43,932 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,499 @ 7.0% cap · market cap 12.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
894
Businesses Nearby
Explore this area
Business Placement
Demographics for 01752, MA
41,793
Population
17,370
Households
2.4
Avg Household Size
40
Median Age
41%
College-Educated
89%
High-School Grad
20.9 sq mi
ZIP Area
2,000
Density / Sq Mi
$95,047
Median Household Income
$49,012
Median Earnings
$1,721
Median Rent
$485,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences include hardwood flooring, dishwashers, shared laundry, and separate basement storage.
Where is this duplex located?
The property is located at 56 Warren Ave Marlborough, MA.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Two‑unit Victorian property built in 1880; More than 40 new windows, plus a new roof and boilers; Foundation repointed in 2018; exterior painted in 2019
