Two-Family Duplex with
For Sale
$650,000
15 Mccarthy Street, Franklin, MA 02038
Two separate units include kitchens, full baths, and individual utilities.
Property Size1,729 SF
Price / SF$375.94
Days on Market21
Property Features for 15 Mccarthy Street
General Information
Standard status
Active
Size
1,729 SF
Total Parking Spaces
1
Property subtype
Multi-family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Listing Agency:
REMAX Executive Realty
(508) 384-8900
Listed By:
Cheryl A. Luccini
Source:
Elevatedboston
Added: Aug 11
Changed: Aug 31
Last Checked: Aug 30 at 6:35PM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This two-family property includes 5 bedrooms total, with each residence arranged around its own living area, kitchen, and full bathroom. Separate utilities serve the units, and both will be delivered vacant. A detached one-car garage and an additional shed provide useful storage and parking options. Town water and town sewer serve the property, with oil and gas utilities also in place.
The property is located just outside downtown Franklin, with access to shopping, restaurants, major routes, and commuter rail service to Boston. The two-unit configuration supports a range of ownership and occupancy arrangements, subject to the buyer’s intended use.
The property is located just outside downtown Franklin, with access to shopping, restaurants, major routes, and commuter rail service to Boston. The two-unit configuration supports a range of ownership and occupancy arrangements, subject to the buyer’s intended use.
Key Highlights
- Two‑family property with 5 bedrooms total
- Each unit includes a living area, kitchen, and full bath
- Separate utilities for each unit
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
4.76%
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 4.76%
Second Best
Apartment 5plus
$408.2K
$357.2K – $476.3K
NOI $28,577 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$1.02M
$895.6K – $1.19M
NOI $71,649 @ 7.0% cap · market cap 11.02%
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 separate units include kitchens, full baths, and individual utilities.
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 $650,000.
What are key features of this property?
This property features: Two‑family property with 5 bedrooms total; Each unit includes a living area, kitchen, and full bath; Separate utilities for each unit
