Three-Family with Fully Fenced
38 Depot Street Milford, MA 01757
38 Depot Street, Milford, MA, 01757
$649,900
For Sale
$649,900
Well-maintained three-family near Milford amenities with separately metered utilities, private parking, and a detached one-car garage.
Property Size2,602 SF
Price / SF$249.77
Days on Market80
Property Features for 38 Depot Street
General Information
- Standard status
- Active
- Size
- 2,602 SF
- Property subtype
- 3 Family - 3 Units Up/Down
Building Details
- Year Built
- 1870
Listing agency
Keller Williams Boston MetroWest
(508) 561-1868
Listed by
Erica Antonio
(508) 561-1868
Source
Lockandkeyre
Added: May 4 Updated: Jul 22 at 12:11PM Checked: Jul 22 at 12:11PM
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 Boston MetroWest
Investment Insights
Based on property information with market context.
This well-maintained three-family property at 38 Depot Street offers a classic layout with spacious kitchens and bedrooms designed for everyday comfort. Updates noted by the seller include a replaced sewer line, refreshed exterior improvements with recently completed landscaping, and enhancements to Unit 1 featuring a new gas range and a separate 35K BTU Williams gas heater. Utilities are separately metered (not water), supporting easier building management. The property includes a fully fenced yard, private off-street parking, and a detached one-car garage.
The home is described as conveniently located near Milford’s shops, restaurants, and local amenities, with two-street access for added convenience.
Tenants currently occupy the property. An open house is scheduled for 5/16 from 11 AM to 1 PM; stop by to see the units in person.
The home is described as conveniently located near Milford’s shops, restaurants, and local amenities, with two-street access for added convenience.
Tenants currently occupy the property. An open house is scheduled for 5/16 from 11 AM to 1 PM; stop by to see the units in person.
Key Highlights
- Three‑family built in 1870 in MetroWest near Milford shops, restaurants, and local amenities
- Utilities are separately metered (not water), helping simplify management for owners
- Recent updates include a replaced sewer line and refreshed exterior improvements with recently done landscaping
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.5k | $19.80 |
| − Vacancy | −$1.3k | −$0.49 |
| EGI | $50.2k | $19.31 |
| − OpEx | −$15.1k | −$5.79 |
| NOI | $35.2k | $13.52 |
2,602 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$502.5K
$439.7K – $586.2K
NOI $35,173 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$437.3K
$382.6K – $510.2K
NOI $30,610 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$888.5K
$777.5K – $1.04M
NOI $62,198 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-family near Milford amenities with separately metered utilities, private parking, and a detached one-car garage.
Where is this triplex located?
The property is located at 38 Depot Street Milford, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Three‑family built in 1870 in MetroWest near Milford shops, restaurants, and local amenities; Utilities are separately metered (not water), helping simplify management for owners; Recent updates include a replaced sewer line and refreshed exterior improvements with recently done landscaping
