Two-Family Residential Income
16 Preston Street Millville, MA 01529
16 Preston Street, Millville, MA, 01529
$462,000
For Sale
$462,000
Two-unit residential property with off-street parking, hardwood floors, and laundry hookups in the basement.
Property Size2,382 SF
Price / SF$193.95
Days on Market153
Property Features for 16 Preston Street
General Information
- Standard status
- Active
- Size
- 2,382 SF
- Property subtype
- Multi-family / 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1920
Listing agency
#1 Realty Group
(781) 354-1358
Listed by
Yannis Tsitsas · License #9074818
(781) 354-1358
Source
Compass
Added: Feb 19 Updated: Jul 21 at 11:16PM Checked: Jul 21 at 11:16PM
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 #1 Realty Group
Investment Insights
Based on property information with market context.
This two-family residential income property offers flexibility for an owner-occupant or investor, with two separate units and a townhouse-style layout in the upper unit. The first-floor unit features a spacious living area and two well-sized bedrooms. Many rooms include hardwood floors, and both kitchens have pantries and ample storage. Additional improvements and ongoing upkeep include updated hot water tanks, electrical improvements, a newer well pump, and regularly maintained furnaces. Laundry hookups are available in the basement, and the property includes a large rear deck and a fenced-in yard.
Off-street parking is available for approximately 3–4 cars on the left side of the building and 1 car on the right. The property is de-leaded, with a certificate available in the documents, and it is served by a private well. It also includes a 3,500-gallon tight tank, and the seller will provide a passing Title V.
Both units share the same core site utilities, while interior amenities such as hardwood flooring and kitchen storage are highlighted throughout.
Off-street parking is available for approximately 3–4 cars on the left side of the building and 1 car on the right. The property is de-leaded, with a certificate available in the documents, and it is served by a private well. It also includes a 3,500-gallon tight tank, and the seller will provide a passing Title V.
Both units share the same core site utilities, while interior amenities such as hardwood flooring and kitchen storage are highlighted throughout.
Key Highlights
- 2‑family home with 2 full baths and a full basement
- Year built 1920 with frame construction and shingle roof
- Hardwood floors in many rooms and decks including a large rear deck
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.2k | $19.80 |
| − Vacancy | −$1.2k | −$0.49 |
| EGI | $46.0k | $19.31 |
| − OpEx | −$13.8k | −$5.79 |
| NOI | $32.2k | $13.52 |
2,382 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$460.0K
$402.5K – $536.7K
NOI $32,199 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$400.3K
$350.3K – $467.0K
NOI $28,022 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$813.4K
$711.7K – $949.0K
NOI $56,939 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit residential property with off-street parking, hardwood floors, and laundry hookups in the basement.
Where is this duplex located?
The property is located at 16 Preston Street Millville, MA.
What is the asking price?
The asking price for this property is $462,000.
What are key features of this property?
This property features: 2‑family home with 2 full baths and a full basement; Year built 1920 with frame construction and shingle roof; Hardwood floors in many rooms and decks including a large rear deck
