Two-Unit Duplex with
New
For Sale
$1,199,000
38 Carver Road E, Watertown, MA 02472
Two residences feature period woodwork, fireplaces, hardwood floors, and outdoor decks.
Property Size3,072 SF
Price / SF$390.30
Days on Market5
Property Features for 38 Carver Road E
General Information
Standard status
Active
Size
3,072 SF
Property subtype
Multi-family
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
decks
fireplaces
built-ins
pantry space
high ceilings
sunroom
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Fleet Homes Group
(617) 969-9000
Source:
Hgjohnsonrealestate
Added: Oct 7
Changed: Oct 11
Last Checked: Oct 11 at 8:13AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 3,072-square-foot duplex contains two residences with matching main-floor layouts. Each includes a living room with a wood-burning fireplace, dining room, two bedrooms, kitchen, and bath. The first-floor unit also has a rear sunroom and has received updates within the last 10 years. The second residence includes two additional bedrooms on the third floor. Both units retain original woodwork, built-ins, pantry space, hardwood flooring, high ceilings, and decks. An unfinished attic and a high-ceiling basement provide additional space in the building.
The property includes a one-car garage and driveway parking for 3+ vehicles. It is near Arsenal Yards, shops, restaurants, and green space, with the 73 bus to Harvard Square and the Red Line nearby.
The property includes a one-car garage and driveway parking for 3+ vehicles. It is near Arsenal Yards, shops, restaurants, and green space, with the 73 bus to Harvard Square and the Red Line nearby.
Key Highlights
- Two residences in a 3,072‑square‑foot duplex
- Second‑floor residence includes two additional third‑floor bedrooms
- First‑floor unit updated within the last 10 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,005
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,300,100
$1.3M
Cap Rate 7%
$928,643
$928.6K
Cap Rate 9%
$722,278
$722.3K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$97.7K $31.80/SF
− Vacancy
−$4.8K −$1.57/SF
EGI
$92.9K $30.23/SF
− OpEx
−$27.9K −$9.07/SF
NOI
$65.0K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,300,100
Cap Rate 7%
$928,643
Cap Rate 9%
$722,278
Alternative Uses
Best Use
Multifamily LT 5
$928.6K
$812.6K – $1.08M
NOI $65,005 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$873.2K
$764.0K – $1.02M
NOI $61,122 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,303 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,077
Businesses Nearby
Explore this area
Business Placement
Demographics for 02472, MA
35,392
Population
17,069
Households
2.1
Avg Household Size
39
Median Age
67%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
8,848
Density / Sq Mi
$123,383
Median Household Income
$77,537
Median Earnings
$2,356
Median Rent
$737,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature period woodwork, fireplaces, hardwood floors, and outdoor decks.
Where is this duplex located?
The property is located at 38 Carver Road E Watertown, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Two residences in a 3,072‑square‑foot duplex; Second‑floor residence includes two additional third‑floor bedrooms; First‑floor unit updated within the last 10 years
