Duplex with Updated
For Sale
$779,900
32-34 Sherman St, Foxboro, MA 02035
Two-unit property offers one occupied side and a second side available for owner use or leasing.
Property Size2,109 SF
Price / SF$369.80
Days on Market48
Property Features for 32-34 Sherman St
General Information
Standard status
Active
Size
2,109 SF
Property subtype
2 Family - 2 Units Side by Side
Units
Unit Mix
1 x 4BR/1.5BA, 1 x 5BR/1.75BA
Multifamily Units
2
Building Details
Building Size
2,109 SF
Year Built
1900
Buildings
1
Listing Agency:
IVerty Realty, LLC
(413) 786-0584
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 30 at 5:23PM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This two-unit property contains a 4/1.5 side and a 5/1.75 side within a 2,109-square-foot duplex built in 1900. One side is currently leased, while the other is vacant for the next owner’s preferred use. Interior features include laminate flooring over hardwood, additional closets, and ample storage. A full basement with bulkhead access serves one side. Both units have new water heaters and washer-dryer hookups, while one side also has a new furnace and electrical panel prepared for EV charging. The other furnace is approximately 5 years old. The property is heated by oil and has a new roof, gutters, and farmers front porch.
The duplex is located at 32-34 Sherman St in Foxboro, near Foxboro center and Patriot Place. The yard is divided by privacy fencing, creating separate outdoor areas for the two sides.
The duplex is located at 32-34 Sherman St in Foxboro, near Foxboro center and Patriot Place. The yard is divided by privacy fencing, creating separate outdoor areas for the two sides.
Key Highlights
- Two‑unit duplex with one currently leased side and one vacant side
- 4/1.5 unit paired with a 5/1.75 unit
- 2,109 square feet; built in 1900
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
$37,779
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
4.84%
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%
$755,580
$755.6K
Cap Rate 7%
$539,700
$539.7K
Cap Rate 9%
$419,767
$419.8K
Market Conditions
NOI Build-Up for 2,109 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
$56.9K $27.00/SF
− Vacancy
−$3.0K −$1.41/SF
EGI
$54.0K $25.59/SF
− OpEx
−$16.2K −$7.68/SF
NOI
$37.8K $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%
$755,580
Cap Rate 7%
$539,700
Cap Rate 9%
$419,767
Alternative Uses
Best Use
Multifamily LT 5
$539.7K
$472.2K – $629.7K
NOI $37,779 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$498.0K
$435.7K – $581.0K
NOI $34,858 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,396 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
722
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-unit property offers one occupied side and a second side available for owner use or leasing.
Where is this duplex located?
The property is located at 32-34 Sherman St Foxboro, MA.
What is the asking price?
The asking price for this property is $779,900.
What are key features of this property?
This property features: Two‑unit duplex with one currently leased side and one vacant side; 4/1.5 unit paired with a 5/1.75 unit; 2,109 square feet; built in 1900
