Two-Unit Property with Detached
New
For Sale
$675,000
15 Mccarthy Street, Franklin, MA 02038
MULTI_FAMILY - Franklin, MA
Property Size1,729 SF
Lot Size0.19 Acres
Price / SF$390.40
Days on Market2
Property Features for 15 Mccarthy Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 5
Parking
5
Directions
Union Street to McCarthy Street
Standard status
Active
APN
M:0287 B:0142 L:0000,90106
Size
1,729 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5752
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
REMAX Executive Realty · RE/MAX International
(508) 520-9696
Listed By:
Bill Wright · License #5503
(508) 520-9696
Added: Aug 12
Last Checked: Aug 13 at 8:06AM
MLS# 73562544
Copyright © 2026 MLS Property Information Network 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 two-unit property contains 1,729 square feet with five bedrooms, separate living areas, individual kitchens, and a full bathroom for each residence. Separate utilities serve the units, while town water and town sewer support the property. A detached one-car garage and shed add functional storage and parking options. The property was built in 1900 and sits on 0.1941 acres with R4 zoning.
Located just outside downtown Franklin, the property is near shopping, restaurants, major routes, and the commuter rail to Boston. The layout can accommodate an owner-occupant seeking rental income from the second unit or an investor pursuing a two-family property.
Located just outside downtown Franklin, the property is near shopping, restaurants, major routes, and the commuter rail to Boston. The layout can accommodate an owner-occupant seeking rental income from the second unit or an investor pursuing a two-family property.
Key Highlights
- 1,729 SF two‑unit property with five bedrooms total
- Separate utilities for each residence
- Each unit includes living space, a kitchen, and a full bathroom
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer separate utilities, individual kitchens, full bathrooms, and access to a detached garage and storage shed.
Where is this duplex located?
The property is located at 15 Mccarthy Street 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: 1,729 SF two‑unit property with five bedrooms total; Separate utilities for each residence; Each unit includes living space, a kitchen, and a full bathroom
