Side-by-Side Duplex with
New
For Sale
$714,900
32 Carroll Street, Milford, MA 01757
Two residential units offer distinct layouts, central air, and shared access to town water and sewer.
Property Size3,165 SF
Price / SF$225.88
Days on Market2
Property Features for 32 Carroll Street
General Information
Standard status
Active
Size
3,165 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
RA
Units
Unit Mix
1 x 3BR, 1 x 1BR+loft+den
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,662
Amenities
hot tub
patio
deck
central air
fireplace
skylights
Building Details
Building Size
3,165 SF
Year Built
1850
Buildings
1
Stories
4
Listing Agency:
Prentice Realty Group
Listed By:
Darla M Prentice
Source:
Laerrealty
Added: Sep 2
Last Checked: Sep 2 at 1:44PM
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 Prentice Realty Group
Investment Insights
Based on property information with market context.
Built in 1850, this side-by-side duplex contains two residential units with separate interior layouts. The first side includes a large living room, hardwood floors, a fireplace, and three bedrooms. The second offers a living room with skylights, a fireplace, one bedroom, a loft, and a den or office. Both units have been owner occupied, and the property includes central air.
Additional features include a two-car garage, basement space roughed in for a kitchen and bath, and outdoor amenities consisting of a patio, deck, and hot tub. The property is connected to town water and sewer. Improvements include a newer roof, skylights, and new second-floor windows.
Additional features include a two-car garage, basement space roughed in for a kitchen and bath, and outdoor amenities consisting of a patio, deck, and hot tub. The property is connected to town water and sewer. Improvements include a newer roof, skylights, and new second-floor windows.
Key Highlights
- Side‑by‑side duplex with two residential units
- Unit 1 includes 3 bedrooms, hardwood flooring, a fireplace, and a large living room
- Unit 2 includes 1 bedroom, a loft, den or office, skylights, and a fireplace
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
$42,783
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
5.98%
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%
$855,660
$855.7K
Cap Rate 7%
$611,186
$611.2K
Cap Rate 9%
$475,367
$475.4K
Market Conditions
NOI Build-Up for 3,165 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
$62.7K $19.80/SF
− Vacancy
−$1.5K −$0.49/SF
EGI
$61.1K $19.31/SF
− OpEx
−$18.3K −$5.79/SF
NOI
$42.8K $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%
$855,660
Cap Rate 7%
$611,186
Cap Rate 9%
$475,367
Alternative Uses
Best Use
Multifamily LT 5
$611.2K
$534.8K – $713.1K
NOI $42,783 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$531.9K
$465.4K – $620.6K
NOI $37,233 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$1.08M
$945.7K – $1.26M
NOI $75,656 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
631
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
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 residential units offer distinct layouts, central air, and shared access to town water and sewer.
Where is this duplex located?
The property is located at 32 Carroll Street Milford, MA.
What is the asking price?
The asking price for this property is $714,900.
What are key features of this property?
This property features: Side‑by‑side duplex with two residential units; Unit 1 includes 3 bedrooms, hardwood flooring, a fireplace, and a large living room; Unit 2 includes 1 bedroom, a loft, den or office, skylights, and a fireplace
