Duplex with Detached
For Sale
$697,500
4 West Pine Street, Milford, MA 01757
Two residences offer matching two-bedroom layouts, hardwood floors, full baths, and private laundry facilities.
Property Size2,758 SF
Price / SF$252.90
Days on Market91
Property Features for 4 West Pine Street
General Information
Standard status
Active
Size
2,758 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
RA
Occupancy
100%
Net Operating Income
$39,600
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,740
Amenities
in-unit laundry
yard
front porch
Building Details
Building Size
2,758 SF
Year Built
1900
Stories
3
Listing Agency:
Coldwell Banker Realty - Boston
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 1:15PM
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 Coldwell Banker Realty - Boston
Investment Insights
Based on property information with market context.
This 2,758-square-foot duplex, built in 1900, contains two residential units with comparable layouts. Each includes a living room, dining room, two bedrooms, one full bathroom, hardwood flooring, and in-unit laundry. The upper residence adds a home office with access to a front porch. A walk-up third floor provides space for possible future expansion, subject to approvals.
The property also includes a detached one-car garage and a level yard. Both units are fully occupied, and the property has an established rental history. Improvements include a roof replacement with new plywood in 2003 and replacement windows installed approximately 15 years ago. The property is located at 4 West Pine Street in Milford, Massachusetts, and is zoned RA.
The property also includes a detached one-car garage and a level yard. Both units are fully occupied, and the property has an established rental history. Improvements include a roof replacement with new plywood in 2003 and replacement windows installed approximately 15 years ago. The property is located at 4 West Pine Street in Milford, Massachusetts, and is zoned RA.
Key Highlights
- 2,758 SF duplex built in 1900
- Two units, each with 2 bedrooms, 1 full bath, hardwood floors, and in‑unit laundry
- Upper unit includes a home office with direct access to a front porch
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
$37,282
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
5.35%
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%
$745,640
$745.6K
Cap Rate 7%
$532,600
$532.6K
Cap Rate 9%
$414,244
$414.2K
Market Conditions
NOI Build-Up for 2,758 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
$54.6K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$53.3K $19.31/SF
− OpEx
−$16.0K −$5.79/SF
NOI
$37.3K $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%
$745,640
Cap Rate 7%
$532,600
Cap Rate 9%
$414,244
Alternative Uses
Best Use
Multifamily LT 5
$532.6K
$466.0K – $621.4K
NOI $37,282 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$463.5K
$405.6K – $540.8K
NOI $32,445 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$941.8K
$824.1K – $1.10M
NOI $65,927 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,338
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 residences offer matching two-bedroom layouts, hardwood floors, full baths, and private laundry facilities.
Where is this duplex located?
The property is located at 4 West Pine Street Milford, MA.
What is the asking price?
The asking price for this property is $697,500.
What are key features of this property?
This property features: 2,758 SF duplex built in 1900; Two units, each with 2 bedrooms, 1 full bath, hardwood floors, and in‑unit laundry; Upper unit includes a home office with direct access to a front porch
