Two-Family Property with
New
For Sale
$425,000
32 N Bow Street, Milford, MA 01757
Separate utilities serve each unit, supporting independent management of the two-family property.
Property Size2,240 SF
Price / SF$189.73
Days on Market2
Property Features for 32 N Bow Street
General Information
Standard status
Active
Size
2,240 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
RA
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$5,009
Building Details
Building Size
2,240 SF
Year Built
1900
Stories
2
Tenancy
Multi
Listing Agency:
Realty Executives Boston West
(508) 879-0660
Listed By:
Keith Shapiro
Source:
Laerrealty
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 5:09AM
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 Realty Executives Boston West
Investment Insights
Based on property information with market context.
Built in 1900, this 2,240-square-foot two-family property includes separate utilities for each unit. The first-floor layout incorporates a former storefront that was last recognized by the town in 1990; that area may be restored as part of the lower unit to expand its living space.
The property is within walking distance of downtown Milford, with local shops and restaurants nearby. Highway access supports regional commuting. Zoning is RA.
The property is within walking distance of downtown Milford, with local shops and restaurants nearby. Highway access supports regional commuting. Zoning is RA.
Key Highlights
- Two‑family property with 2,240 square feet of building area
- Separate utilities are provided for each unit
- Former storefront last recognized by the town in 1990
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
$33,124
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
7.79%
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%
$662,480
$662.5K
Cap Rate 7%
$473,200
$473.2K
Cap Rate 9%
$368,044
$368.0K
Market Conditions
NOI Build-Up for 2,240 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
$48.4K $21.60/SF
− Vacancy
−$1.1K −$0.48/SF
EGI
$47.3K $21.12/SF
− OpEx
−$14.2K −$6.34/SF
NOI
$33.1K $14.79/SF
Area
Worcester County, MA
Vacancy
2.20%
Lease Rate
$21.60 /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%
$662,480
Cap Rate 7%
$473,200
Cap Rate 9%
$368,044
Alternative Uses
Best Use
Retail
$473.2K
$414.1K – $552.1K
NOI $33,124 @ 7.0% cap · market cap 7.79%
Second Best
Multifamily LT 5
$432.6K
$378.5K – $504.7K
NOI $30,280 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$764.9K
$669.3K – $892.4K
NOI $53,545 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,070
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 - Separate utilities serve each unit, supporting independent management of the two-family property.
Where is this duplex located?
The property is located at 32 N Bow Street Milford, MA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑family property with 2,240 square feet of building area; Separate utilities are provided for each unit; Former storefront last recognized by the town in 1990
