Two-Family Duplex with
New
For Sale
$1,199,000
38 Carver Rd E, Watertown, MA 02472
Residential Income, Watertown, MA
Property Size3,072 SF
Lot Size0.11 Acres
Price / SF$390.30
Days on Market2
Property Features for 38 Carver Rd E
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
T
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 6, Bedroom 3
Parking
4
Fireplace
1
Directions
Belmont to Carver to Carver East
Standard status
Active
APN
M:1158 B:0005 L:0021,854543
Size
3,072 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
14192
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty
Listed By:
Keller Williams
(617) 969-9000
Added: Oct 9
Last Checked: Oct 10 at 11:06AM
MLS# 73589086
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family duplex contains 3,072 square feet across two residences on a 0.1148-acre lot. The first-floor unit has two bedrooms, a sunroom, a newer kitchen and bath, and updated windows. The second residence follows a similar layout, with two additional bedrooms on the third floor and an unfinished attic. Both units retain original woodwork, hardwood flooring, built-ins, pantry space, high ceilings, decks, and wood-burning fireplaces. A full basement, one-car garage, and driveway parking add practical utility. The property was built in 1900 and is zoned T.
The Watertown property is near Arsenal Yards, local shops, restaurants, and green space. The 73 bus, serving Harvard Square and the Red Line, is nearby; the location also provides access toward Boston and Cambridge.
The Watertown property is near Arsenal Yards, local shops, restaurants, and green space. The 73 bus, serving Harvard Square and the Red Line, is nearby; the location also provides access toward Boston and Cambridge.
Key Highlights
- Two‑family property with 3,072 square feet of living space
- 0.1148‑acre lot; built in 1900
- Two additional third‑floor bedrooms and an unfinished attic in the second unit
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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Current Use
Lease Details
2
Residential units
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
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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 - Separate living areas include original woodwork, hardwood floors, fireplaces, and decks in both residences.
Where is this duplex located?
The property is located at 38 Carver Rd 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‑family property with 3,072 square feet of living space; 0.1148‑acre lot; built in 1900; Two additional third‑floor bedrooms and an unfinished attic in the second unit
