Updated Side-by-Side
For Sale
$999,994
31-33 Atherton Road, Foxboro, MA 02035
Two three-bedroom units offer separate utilities, decks, driveways, and basement laundry hookups.
Property Size3,970 SF
Price / SF$251.89
Days on Market140
Property Features for 31-33 Atherton Road
General Information
Standard status
Active
Size
3,970 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
R40
Net Operating Income
$94,020
Taxes and HOA fees
Annual Taxes
$6,559
Building Details
Building Size
3,970 SF
Year Built
1971
Stories
6
Listing Agency:
Coldwell Banker Realty - Boston
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 14
Changed: Aug 29
Last Checked: Aug 29 at 8:19PM
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 Coldwell Banker Realty - Boston
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 3,970 square feet across two updated three-bedroom, one-and-a-half-bath units. Built in 1971, the property includes separate driveways, private decks, individual utilities, and full basements with washer and dryer hookups. One residence is vacant and ready for occupancy, while the second is tenant-occupied.
The home sits on a quiet cul-de-sac in Foxborough, within reach of shopping, dining, I-95, commuter rail stations, and Gillette Stadium. R40 zoning supports the existing residential configuration. A potential condo conversion is identified, subject to buyer due diligence. The property is offered as-is.
The home sits on a quiet cul-de-sac in Foxborough, within reach of shopping, dining, I-95, commuter rail stations, and Gillette Stadium. R40 zoning supports the existing residential configuration. A potential condo conversion is identified, subject to buyer due diligence. The property is offered as-is.
Key Highlights
- 3,970‑square‑foot duplex with two side‑by‑side units
- Two 3 bed / 1.5 bath residences, both updated
- One unit vacant; the second unit is tenant‑occupied
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
$71,116
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
7.11%
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%
$1,422,320
$1.4M
Cap Rate 7%
$1,015,943
$1.0M
Cap Rate 9%
$790,178
$790.2K
Market Conditions
NOI Build-Up for 3,970 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
$107.2K $27.00/SF
− Vacancy
−$5.6K −$1.41/SF
EGI
$101.6K $25.59/SF
− OpEx
−$30.5K −$7.68/SF
NOI
$71.1K $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%
$1,422,320
Cap Rate 7%
$1,015,943
Cap Rate 9%
$790,178
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$889.0K – $1.19M
NOI $71,116 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$937.4K
$820.2K – $1.09M
NOI $65,616 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,516 @ 7.0% cap · market cap 16.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 02035, MA
18,618
Population
7,414
Households
2.5
Avg Household Size
42
Median Age
58%
College-Educated
97%
High-School Grad
19.9 sq mi
ZIP Area
936
Density / Sq Mi
$108,559
Median Household Income
$62,457
Median Earnings
$1,763
Median Rent
$581,900
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 three-bedroom units offer separate utilities, decks, driveways, and basement laundry hookups.
Where is this duplex located?
The property is located at 31-33 Atherton Road Foxboro, MA.
What is the asking price?
The asking price for this property is $999,994.
What are key features of this property?
This property features: 3,970‑square‑foot duplex with two side‑by‑side units; Two 3 bed / 1.5 bath residences, both updated; One unit vacant; the second unit is tenant‑occupied
