Building Details

Building Size 3,802 SF

Year Built 1925

Buildings 1

Listing Agency: William Raveis R.E. & Home Services

Listed By: Cahill+Co. Team Show Phone

Source: Classifiedrealtygroup

Added: Sep 12 Last Checked: Sep 14 at 6:53AM

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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 William Raveis R.E. & Home Services

Investment Insights

Based on property information with market context.

This renovated duplex at 29 Laurel Rd includes two distinct residences with updated interiors and flexible living arrangements. Unit 1 offers three bedrooms and one full bath on the main level, plus a lower-level fourth bedroom, full bath, kitchenette, and sitting area. Unit 2 spans two floors with four bedrooms, including an upper-level primary suite with an ensuite bath, along with a dedicated home office.

Both units feature open kitchen-to-living layouts with quartz surfaces and stainless appliances. The property also includes a level yard, separate rear porches, a two-car garage, central air, gas heat, separately metered utilities, renovated laundry facilities, and private storage closets. Built in 1925, the home is walkable to Kelly Field, schools, and multiple public transit options.

Key Highlights

• Two‑family duplex with 7 bedrooms across both units
• Unit 1 includes a lower‑level bedroom, full bath, kitchenette, and sitting area
• Unit 2 features a two‑story layout, upper‑level primary suite, and home office

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

$68,107

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

5.14%

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%

$1,362,140 $1.4M

Cap Rate 7%

$972,957 $973.0K

Cap Rate 9%

$756,744 $756.7K

Market Conditions

NOI Build-Up for 3,802 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

$102.7K $27.00/SF

− Vacancy

−$5.4K −$1.41/SF

EGI

$97.3K $25.59/SF

− OpEx

−$29.2K −$7.68/SF

NOI

$68.1K $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%

$1,362,140

Cap Rate 7%

$972,957

Cap Rate 9%

$756,744

Alternative Uses

Best Use

Multifamily LT 5

$973.0K

$851.3K – $1.14M (±1% cap)

NOI $68,107 @ 7.0% cap · market cap 5.14%

Second Best

Apartment 5plus

$897.7K

$785.5K – $1.05M (±1% cap)

NOI $62,840 @ 7.0% cap · market cap 4.74%

Theoretical Best

Office A

$2.25M

$1.97M – $2.63M (±1% cap)

NOI $157,554 @ 7.0% cap · market cap 11.89%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Restaurant Parking Lot & Garage Spa & Massage Center HVAC Service Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

605

Businesses Nearby

Explore this area Business Placement

Demographics for 02186, MA

28,637

Population

9,447

Households

3

Avg Household Size

41

Median Age

70%

College-Educated

96%

High-School Grad

13.7 sq mi

ZIP Area

2,090

Density / Sq Mi

$177,222

Median Household Income

$83,510

Median Earnings

$1,545

Median Rent

$896,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two refreshed residences offer flexible layouts, separate utilities, outdoor space, and a detached garage.

Where is this duplex located?

The property is located at 29 Laurel Rd Milton, MA.

What is the asking price?

The asking price for this property is $1,325,000.

What are key features of this property?

This property features: Two‑family duplex with 7 bedrooms across both units; Unit 1 includes a lower‑level bedroom, full bath, kitchenette, and sitting area; Unit 2 features a two‑story layout, upper‑level primary suite, and home office