Renovated Duplex with
For Sale
$689,999
18 Aldrich Road, Bridgewater, MA 02324
Updated two-family property with an expanded driveway, outdoor space, and accessible unfinished basement.
Property Size1,792 SF
Price / SF$385.04
Days on Market193
Property Features for 18 Aldrich Road
General Information
Standard status
Active
Size
1,792 SF
Total Parking Spaces
6
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
Res. 2 Fam
Net Operating Income
$36,000
Taxes and HOA fees
Annual Taxes
$5,990
Amenities
balcony
backyard
basement
No
Wood, Tile, Vinyl / VCT, Laminate
Insulated Doors, Storm Door(s)
2.0
Insulated Windows, Storm Window(s), Screens
Electric Dryer Hookup, Washer Hookup
Full, Interior Access, Bulkhead, Concrete Floor, Unfinished Basement
2
2.00
Frame
Shingle
Cleared, Farm, Level
Balcony, Rain Gutters, Garden, Screens, Garden Area, Porch, Patio
Porch, Patio
Building Details
Year Built
1925
Listing Agency:
eXp Realty
(888) 854-7493
Listed By:
Kevin Fitzgerald · License #120034
(888) 854-7493
Source:
Compass
Added: Feb 19
Changed: Aug 30
Last Checked: Aug 30 at 10:02PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This duplex at 18 Aldrich Road has undergone extensive renovation, including new flooring, doors, windows, wall finishes, appliances, fixtures, plumbing, wiring, kitchen cabinetry, counters, and tiled bathrooms. The 1,792-square-foot property includes eight brand-new high-efficiency mini-split heating and air-conditioning units. A second-floor front balcony, porch, patio, garden area, and rain gutters add to the exterior improvements, while the expanded driveway provides additional vehicle space.
The unfinished basement features concrete flooring, interior access, a bulkhead, two interior egresses, and two exterior egresses. The property also includes a cleared, level setting with farm and garden features. Built in 1925 and designated Res. 2 Fam, the asset offers a renovated two-family configuration with substantial mechanical, interior, and exterior updates.
The unfinished basement features concrete flooring, interior access, a bulkhead, two interior egresses, and two exterior egresses. The property also includes a cleared, level setting with farm and garden features. Built in 1925 and designated Res. 2 Fam, the asset offers a renovated two-family configuration with substantial mechanical, interior, and exterior updates.
Key Highlights
- 1,792 SF duplex renovated with new kitchens, bathrooms, flooring, windows, plumbing, wiring, and fixtures
- 8 brand‑new high‑efficiency mini‑split heat and A/C units
- Res. 2 Fam zoning
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
$30,285
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
4.39%
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%
$605,700
$605.7K
Cap Rate 7%
$432,643
$432.6K
Cap Rate 9%
$336,500
$336.5K
Market Conditions
NOI Build-Up for 1,792 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
$45.7K $25.50/SF
− Vacancy
−$2.4K −$1.36/SF
EGI
$43.3K $24.14/SF
− OpEx
−$13.0K −$7.24/SF
NOI
$30.3K $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%
$605,700
Cap Rate 7%
$432,643
Cap Rate 9%
$336,500
Alternative Uses
Best Use
Multifamily LT 5
$432.6K
$378.6K – $504.8K
NOI $30,285 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$398.7K
$348.9K – $465.2K
NOI $27,912 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.06M
$928.3K – $1.24M
NOI $74,260 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 02324, MA
25,676
Population
9,770
Households
2.6
Avg Household Size
42
Median Age
40%
College-Educated
94%
High-School Grad
27.0 sq mi
ZIP Area
951
Density / Sq Mi
$112,445
Median Household Income
$57,560
Median Earnings
$1,975
Median Rent
$500,600
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 - Updated two-family property with an expanded driveway, outdoor space, and accessible unfinished basement.
Where is this duplex located?
The property is located at 18 Aldrich Road Bridgewater, MA.
What is the asking price?
The asking price for this property is $689,999.
What are key features of this property?
This property features: 1,792 SF duplex renovated with new kitchens, bathrooms, flooring, windows, plumbing, wiring, and fixtures; 8 brand‑new high‑efficiency mini‑split heat and A/C units; Res. 2 Fam zoning
