Two-Unit Duplex
New
For Sale
$730,000
474-476 Franklin St, Mansfield, MA 02048
Separate living spaces, off-street parking, and a private outdoor setting support flexible residential income use.
Property Size2,226 SF
Lot Size0.54 Acres
Price / SF$327.94
Days on Market3
Property Features for 474-476 Franklin St
General Information
Standard status
Active
Size
2,226 SF
Lot size
0.54 Acres
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,462
Building Details
Building Size
2,226 SF
Year Built
1975
Stories
4
Units
2
Listing Agency:
(617) 840-0470
Listed By:
Kensley Dimmott
(617) 840-0470
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 17 at 4:56AM
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 Kensley Dimmott
Investment Insights
Based on property information with market context.
This duplex at 474-476 Franklin St includes two separate residential units with approximately 2,226 square feet of living space. The property sits on a 0.54-acre lot and provides off-street parking along with private outdoor space. Built in 1975, the layout offers distinct living areas within one residential income property.
The property is located in Mansfield, Massachusetts, with access to major routes, commuter rail, shopping, dining, and everyday amenities. Its two-unit configuration supports residential income use while maintaining separate living spaces for each unit.
The property is located in Mansfield, Massachusetts, with access to major routes, commuter rail, shopping, dining, and everyday amenities. Its two-unit configuration supports residential income use while maintaining separate living spaces for each unit.
Key Highlights
- Two‑unit duplex with separate living spaces
- Approximately 2,226 square feet of living space
- 0.54‑acre lot with private outdoor setting
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
$39,781
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
5.45%
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%
$795,620
$795.6K
Cap Rate 7%
$568,300
$568.3K
Cap Rate 9%
$442,011
$442.0K
Market Conditions
NOI Build-Up for 2,226 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
$61.4K $27.60/SF
− Vacancy
−$4.6K −$2.07/SF
EGI
$56.8K $25.53/SF
− OpEx
−$17.0K −$7.66/SF
NOI
$39.8K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /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%
$795,620
Cap Rate 7%
$568,300
Cap Rate 9%
$442,011
Alternative Uses
Best Use
Multifamily LT 5
$568.3K
$497.3K – $663.0K
NOI $39,781 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$528.1K
$462.1K – $616.2K
NOI $36,970 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $94,892 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 02048, MA
23,860
Population
9,228
Households
2.6
Avg Household Size
40
Median Age
51%
College-Educated
96%
High-School Grad
20.1 sq mi
ZIP Area
1,187
Density / Sq Mi
$131,409
Median Household Income
$65,154
Median Earnings
$1,702
Median Rent
$571,000
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 - Separate living spaces, off-street parking, and a private outdoor setting support flexible residential income use.
Where is this duplex located?
The property is located at 474-476 Franklin St Mansfield, MA.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Two‑unit duplex with separate living spaces; Approximately 2,226 square feet of living space; 0.54‑acre lot with private outdoor setting
