Renovated Two-Unit
49-51 Gorman Rd., Framingham, MA 01702
For Sale
$774,900
Pending
Two updated kitchens and baths complement hardwood flooring, a detached garage, and off-street parking.
Property Size2,232 SF
Days on Market9
Property Features for 49-51 Gorman Rd.
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
two-car detached garage
covered porch
private yard
Ceiling Fan(s)
Storage
Crown Molding
Upgraded Cabinets
Upgraded Countertops
Bathroom With Tub & Shower
Open Floorplan
Walk-Up Attic
Pantry
Living Room
Dining Room
Kitchen
Laundry Room
Mudroom
Balcony/Deck
Balcony
Rain Gutters
Garden
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Keller Williams Realty
(617) 969-9000
Listed By:
Wilson Group
(781) 424-6286
Source:
Cityviewrealestate
Added: Nov 6
Changed: Nov 11
Last Checked: Nov 13 at 5:29AM
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 Realty
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,232 square feet and was built in 1924. Each unit has a renovated kitchen and a newer bathroom. Hardwood floors and large windows are found throughout, and a newer gas furnace serves the property. The vinyl exterior is designed for low-maintenance upkeep, and the roof was replaced in 2010.
A detached two-car garage, additional off-street parking, and a covered porch add practical exterior features. The porch opens to a private yard. The property is located in Framingham near Route 9 and local amenities.
A detached two-car garage, additional off-street parking, and a covered porch add practical exterior features. The porch opens to a private yard. The property is located in Framingham near Route 9 and local amenities.
Key Highlights
- Two‑unit residential property with 2,232 square feet
- Renovated kitchens and newer baths in both units
- Detached two‑car garage plus ample off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,230
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$944,600
$944.6K
Cap Rate 7%
$674,714
$674.7K
Cap Rate 9%
$524,778
$524.8K
Market Conditions
NOI Build-Up for 2,232 SF
Gross rent
$71.0K $31.80/SF
− Vacancy
−$3.5K −$1.57/SF
EGI
$67.5K $30.23/SF
− OpEx
−$20.2K −$9.07/SF
NOI
$47.2K $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%
$944,600
Cap Rate 7%
$674,714
Cap Rate 9%
$524,778
Alternative Uses
Best Use
Multifamily LT 5
$674.7K
$590.4K – $787.2K
NOI $47,230 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$634.4K
$555.1K – $740.2K
NOI $44,409 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,494 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
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Business Placement
Demographics for 01702, MA
39,515
Population
15,303
Households
2.6
Avg Household Size
35
Median Age
39%
College-Educated
83%
High-School Grad
8.2 sq mi
ZIP Area
4,819
Density / Sq Mi
$78,784
Median Household Income
$41,792
Median Earnings
$1,822
Median Rent
$563,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Middlesex County, MA
Properties on Market for Duplexes in Middlesex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated kitchens and baths complement hardwood flooring, a detached garage, and off-street parking.
Where is this duplex located?
The property is located at 49-51 Gorman Rd. Framingham, MA.
What is the asking price?
The asking price for this property is $774,900.
What are key features of this property?
This property features: Two‑unit residential property with 2,232 square feet; Renovated kitchens and newer baths in both units; Detached two‑car garage plus ample off‑street parking
