Two-Family Duplex with
For Sale
$675,000
15 Mccarthy St, Franklin, MA 02038
Two units feature separate living areas, kitchens, full baths, and utilities for flexible occupancy arrangements.
Property Size1,729 SF
Days on Market9
Property Features for 15 Mccarthy St
General Information
Standard status
Active
Size
1,729 SF
Total Parking Spaces
1
Property subtype
Investment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,752
Building Details
Building Size
1,729 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
(508) 889-7572
Listed By:
Cheryl A. Luccini
(508) 889-7572
Source:
Elliman
Added: Aug 13
Changed: Aug 17
Last Checked: Aug 21 at 8:21AM
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 Cheryl A. Luccini
Investment Insights
Based on property information with market context.
Built in 1900, this two-family property includes five bedrooms across two units. Each residence has its own living area, kitchen, and full bathroom, while separate utilities support independent occupancy. Town water and town sewer serve the property, with oil and gas also identified among the utilities.
A detached one-car garage and separate shed add storage and parking capacity. The property is situated just outside downtown Franklin, with access to shopping, restaurants, major routes, and commuter rail service to Boston.
The configuration supports an owner-occupant seeking rental income from the second unit as well as an investor adding a duplex to a residential income portfolio.
A detached one-car garage and separate shed add storage and parking capacity. The property is situated just outside downtown Franklin, with access to shopping, restaurants, major routes, and commuter rail service to Boston.
The configuration supports an owner-occupant seeking rental income from the second unit as well as an investor adding a duplex to a residential income portfolio.
Key Highlights
- Two‑family property with 5 total bedrooms
- Each unit includes living space, kitchen, and full bath
- Separate utilities for the two units
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
$30,972
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
4.59%
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%
$619,440
$619.4K
Cap Rate 7%
$442,457
$442.5K
Cap Rate 9%
$344,133
$344.1K
Market Conditions
NOI Build-Up for 1,729 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
$46.7K $27.00/SF
− Vacancy
−$2.4K −$1.41/SF
EGI
$44.2K $25.59/SF
− OpEx
−$13.3K −$7.68/SF
NOI
$31.0K $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%
$619,440
Cap Rate 7%
$442,457
Cap Rate 9%
$344,133
Alternative Uses
Best Use
Multifamily LT 5
$442.5K
$387.2K – $516.2K
NOI $30,972 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$408.2K
$357.2K – $476.3K
NOI $28,577 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$1.02M
$895.6K – $1.19M
NOI $71,649 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 02038, MA
33,261
Population
12,889
Households
2.6
Avg Household Size
41
Median Age
56%
College-Educated
97%
High-School Grad
26.6 sq mi
ZIP Area
1,250
Density / Sq Mi
$142,788
Median Household Income
$67,728
Median Earnings
$1,856
Median Rent
$567,100
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 - Two units feature separate living areas, kitchens, full baths, and utilities for flexible occupancy arrangements.
Where is this duplex located?
The property is located at 15 Mccarthy St Franklin, MA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑family property with 5 total bedrooms; Each unit includes living space, kitchen, and full bath; Separate utilities for the two units
