Updated Duplex with
New
For Sale
$424,990
444 Putnam Hill Road, Sutton, MA 01590
Townhouse-style duplex with one vacant unit, separate utilities, and rear privacy beside conservation land.
Property Size2,640 SF
Price / SF$160.98
Days on Market3
Property Features for 444 Putnam Hill Road
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
1884
Listing Agency:
Real Broker MA,LLC
Listed By:
The Liberty Group
(978) 537-8301
Source:
Foster-healey
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 16 at 12:43PM
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 Real Broker MA,LLC
Investment Insights
Based on property information with market context.
This 2,640-square-foot duplex contains two townhouse-style units and was built in 1884. One unit is vacant and configured with 3 bedrooms and 1 bathroom, along with a one-car garage with power. Its improvements include granite countertops, white cabinetry, stainless steel appliances, and updated paint. Both units have laundry hookups on the main floor.
The occupied unit is leased and can accommodate a four-bedroom layout, with one bedroom on the first level and three upstairs. The rear yard abuts conservation land, providing separation from the neighboring area. Utilities are separately metered and paid by the tenants, except for water and sewer. The property is zoned res.
The occupied unit is leased and can accommodate a four-bedroom layout, with one bedroom on the first level and three upstairs. The rear yard abuts conservation land, providing separation from the neighboring area. Utilities are separately metered and paid by the tenants, except for water and sewer. The property is zoned res.
Key Highlights
- 2,640 SF duplex with two townhouse‑style units
- One vacant unit with 3 bedrooms and 1 bathroom
- One‑car garage with power assigned to the vacant unit
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
$35,687
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
8.40%
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%
$713,740
$713.7K
Cap Rate 7%
$509,814
$509.8K
Cap Rate 9%
$396,522
$396.5K
Market Conditions
NOI Build-Up for 2,640 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
$52.3K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$51.0K $19.31/SF
− OpEx
−$15.3K −$5.79/SF
NOI
$35.7K $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%
$713,740
Cap Rate 7%
$509,814
Cap Rate 9%
$396,522
Alternative Uses
Best Use
Multifamily LT 5
$509.8K
$446.1K – $594.8K
NOI $35,687 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$443.7K
$388.2K – $517.6K
NOI $31,057 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$901.5K
$788.8K – $1.05M
NOI $63,107 @ 7.0% cap · market cap 14.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 01590, MA
9,279
Population
3,359
Households
2.8
Avg Household Size
45
Median Age
47%
College-Educated
97%
High-School Grad
32.5 sq mi
ZIP Area
286
Density / Sq Mi
$155,938
Median Household Income
$62,293
Median Earnings
$1,167
Median Rent
$526,400
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 - Townhouse-style duplex with one vacant unit, separate utilities, and rear privacy beside conservation land.
Where is this duplex located?
The property is located at 444 Putnam Hill Road Sutton, MA.
What is the asking price?
The asking price for this property is $424,990.
What are key features of this property?
This property features: 2,640 SF duplex with two townhouse‑style units; One vacant unit with 3 bedrooms and 1 bathroom; One‑car garage with power assigned to the vacant unit
