Duplex Bungalows with
For Sale
$599,000
16-16r Indian Street, Carver, MA 02330
Two rented bungalows on one lot offering investor-ready income potential with a newer Title 5 system.
Property Size1,200 SF
Price / SF$499.17
Days on Market104
Property Features for 16-16r Indian Street
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Multi-family
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Conway - Bridgewater
Listed By:
Doug Crane
(617) 731-4644
Source:
Hammondre
Added: May 23
Changed: Sep 2
Last Checked: Sep 1 at 8:33PM
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 Conway - Bridgewater
Investment Insights
Based on property information with market context.
This offering features two bungalows on a single lot, positioned for investors seeking income-producing residential units already under lease. The properties are currently rented with great tenants, and tours are not available without an accepted offer. The sale structure allows the opportunity to purchase with tenants in place.
Set in a scenic setting with wide open vistas overlooking beautiful cranberry bogs, the location offers a distinctive backdrop. Investors may drive by to view the property and the surrounding views. Additionally, a newer Title 5 system was installed.
For buyers looking for a turn-key-style investment, the presence of established tenants reduces immediate occupancy risk and supports an income-focused purchase. The duplex-style configuration of two bungalows on one lot can also appeal to investors who want multiple income streams within a single property boundary. Contact the listing agent for details and to review the tenancy arrangements that will convey with the sale.
Set in a scenic setting with wide open vistas overlooking beautiful cranberry bogs, the location offers a distinctive backdrop. Investors may drive by to view the property and the surrounding views. Additionally, a newer Title 5 system was installed.
For buyers looking for a turn-key-style investment, the presence of established tenants reduces immediate occupancy risk and supports an income-focused purchase. The duplex-style configuration of two bungalows on one lot can also appeal to investors who want multiple income streams within a single property boundary. Contact the listing agent for details and to review the tenancy arrangements that will convey with the sale.
Key Highlights
- Two bungalows on one lot, currently rented with tenants in place
- Year built: 1950
- Newer Title 5 system installed
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
$20,280
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
3.39%
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%
$405,600
$405.6K
Cap Rate 7%
$289,714
$289.7K
Cap Rate 9%
$225,333
$225.3K
Market Conditions
NOI Build-Up for 1,200 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
$30.6K $25.50/SF
− Vacancy
−$1.6K −$1.36/SF
EGI
$29.0K $24.14/SF
− OpEx
−$8.7K −$7.24/SF
NOI
$20.3K $16.90/SF
Area
Plymouth County, MA
Vacancy
5.32%
Lease Rate
$25.50 /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%
$405,600
Cap Rate 7%
$289,714
Cap Rate 9%
$225,333
Alternative Uses
Best Use
Multifamily LT 5
$289.7K
$253.5K – $338.0K
NOI $20,280 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$267.0K
$233.6K – $311.5K
NOI $18,691 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$710.4K
$621.6K – $828.8K
NOI $49,728 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Explore this area
Business Placement
Demographics for 02330, MA
11,645
Population
5,048
Households
2.3
Avg Household Size
46
Median Age
27%
College-Educated
95%
High-School Grad
37.3 sq mi
ZIP Area
312
Density / Sq Mi
$78,955
Median Household Income
$53,605
Median Earnings
$1,759
Median Rent
$409,800
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 rented bungalows on one lot offering investor-ready income potential with a newer Title 5 system.
Where is this duplex located?
The property is located at 16-16r Indian Street Carver, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two bungalows on one lot, currently rented with tenants in place; Year built: 1950; Newer Title 5 system installed
