Fenced Two-Unit
For Sale
$589,900
Pending
24 Granite St, Milford, MA 01757
Well-maintained duplex with separate driveways, fenced outdoor space, and updated kitchens across two distinct residential units.
Property Size1,877 SF
Days on Market78
Property Features for 24 Granite St
General Information
Standard status
Pending
Size
1,877 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Building Details
Year Built
1880
Buildings
1
Tenancy
Multi
Listing Agency:
Mega Realty Services
Listed By:
Soraia Aguiar Campos
(508) 250-1936
Source:
Greaterbostonhouses
Added: Jul 8
Changed: Sep 9
Last Checked: Sep 22 at 5:29PM
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 Mega Realty Services
Investment Insights
Based on property information with market context.
This two-unit duplex, built in 1880, sits on a fenced corner lot and includes two separate residential units. The first-floor unit has 2 bedrooms, 1 full bath, and a kitchen with granite countertops. The second unit offers 3 bedrooms, 2 full baths, and a living room, along with a kitchen equipped with stainless steel appliances, quartz countertops, an island, dishwasher, and electric range. The second unit also features hardwood flooring and recent paint.
The property includes a private fenced backyard, two separated driveways, and additional off-street parking. It is close to downtown, shopping, restaurants, and Charles Trail, with access to Route 495. WalkScore is 27 and BikeScore is 21.
The property includes a private fenced backyard, two separated driveways, and additional off-street parking. It is close to downtown, shopping, restaurants, and Charles Trail, with access to Route 495. WalkScore is 27 and BikeScore is 21.
Key Highlights
- Two‑unit duplex built in 1880
- First‑floor unit includes 2 bedrooms and 1 full bath
- Second unit offers 3 bedrooms and 2 full baths
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
$25,373
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
4.30%
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%
$507,460
$507.5K
Cap Rate 7%
$362,471
$362.5K
Cap Rate 9%
$281,922
$281.9K
Market Conditions
NOI Build-Up for 1,877 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
$37.2K $19.80/SF
− Vacancy
−$918 −$0.49/SF
EGI
$36.2K $19.31/SF
− OpEx
−$10.9K −$5.79/SF
NOI
$25.4K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /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%
$507,460
Cap Rate 7%
$362,471
Cap Rate 9%
$281,922
Alternative Uses
Best Use
Multifamily LT 5
$362.5K
$317.2K – $422.9K
NOI $25,373 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$315.4K
$276.0K – $368.0K
NOI $22,081 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$641.0K
$560.9K – $747.8K
NOI $44,868 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 01757, MA
30,479
Population
11,833
Households
2.6
Avg Household Size
40
Median Age
34%
College-Educated
87%
High-School Grad
15.1 sq mi
ZIP Area
2,018
Density / Sq Mi
$92,951
Median Household Income
$47,975
Median Earnings
$1,702
Median Rent
$444,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with separate driveways, fenced outdoor space, and updated kitchens across two distinct residential units.
Where is this duplex located?
The property is located at 24 Granite St Milford, MA.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1880; First‑floor unit includes 2 bedrooms and 1 full bath; Second unit offers 3 bedrooms and 2 full baths
