Renovated Duplex with
For Sale
$774,900
49-51 Gorman Road, Framingham, MA 01702
Two updated kitchens, newer baths, hardwood flooring, and a covered porch complement this well-maintained two-unit home.
Property Size2,232 SF
Price / SF$347.18
Days on Market48
Property Features for 49-51 Gorman Road
General Information
Standard status
Active
Size
2,232 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1924
Listing Agency:
Keller Williams Realty
Listed By:
Wilson Group
(781) 424-6286
Source:
Jmulkerinrealty
Added: Sep 14
Changed: Oct 31
Last Checked: Oct 30 at 7:10PM
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.
Located at 49-51 Gorman Road in Framingham, this 2,232-square-foot duplex offers two residential units with renovated kitchens, two newer baths, hardwood floors, and large windows that bring abundant natural light into the interiors. A newer gas furnace, vinyl exterior, and roof replacement completed in 2010 add to the property's physical improvements. The home was built in 1924 and acquired by the current owner in 2016.
Outdoor features include a covered porch, private yard, ample off-street parking, and a detached two-car garage. The property is positioned near Route 9 and provides a two-unit configuration with practical interior and exterior amenities.
Outdoor features include a covered porch, private yard, ample off-street parking, and a detached two-car garage. The property is positioned near Route 9 and provides a two-unit configuration with practical interior and exterior amenities.
Key Highlights
- Two‑unit duplex totaling 2,232 SF
- Two renovated kitchens and two newer baths
- Detached two‑car garage with 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Highway access
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated kitchens, newer baths, hardwood flooring, and a covered porch complement this well-maintained two-unit home.
Where is this duplex located?
The property is located at 49-51 Gorman Road 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 duplex totaling 2,232 SF; Two renovated kitchens and two newer baths; Detached two‑car garage with ample off‑street parking
