Side-by-Side Duplex with
For Sale
$724,900
Pending
6-8 Gibbon Avenue, Milford, MA 01757
Two residential units offer three-bedroom layouts, separate living areas, and shared outdoor space in Milford.
Property Size3,120 SF
Days on Market104
Property Features for 6-8 Gibbon Avenue
General Information
Standard status
Pending
Size
3,120 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
RA
Occupancy
100%
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,786
Amenities
front porch
hardwood flooring
French doors
wide moldings
deck
Building Details
Building Size
3,120 SF
Year Built
1890
Buildings
1
Stories
3
Units
2
Listing Agency:
Lamacchia Realty, Inc.
(508) 422-9750
Listed By:
Lioce Properties Group
(508) 422-9750
Source:
Alliancepartnersre
Added: May 19
Changed: Aug 29
Last Checked: Jun 3 at 12:06PM
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 Lamacchia Realty, Inc.
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 3,120 square feet across two residential units. Each unit provides a living room, dining room, kitchen, and three second-floor bedrooms. Unit #6 includes 2 full baths, including one on each level, along with laundry access; Unit 8 has 1 full bath. Interior details include hardwood floors, French doors, wide moldings, upgraded cabinets, and a walk-up attic. Range, dishwasher, refrigerator, washer, dryer, and range hood are included among the listed fixtures and appliances.
The property also features a shared 40-foot deck, front porch, shingle exterior, and rain gutters. Recorded improvements include the roof, windows, deck, siding, walls, wiring, and gas hot water tanks. Built in 1890 and zoned RA, the duplex is located near Town Park, the library, public schools, shopping, medical facilities, public transportation, bike paths, walk/jog trails, highway access, and a house of worship. Both units have been owner occupied, with no rental history available.
The property also features a shared 40-foot deck, front porch, shingle exterior, and rain gutters. Recorded improvements include the roof, windows, deck, siding, walls, wiring, and gas hot water tanks. Built in 1890 and zoned RA, the duplex is located near Town Park, the library, public schools, shopping, medical facilities, public transportation, bike paths, walk/jog trails, highway access, and a house of worship. Both units have been owner occupied, with no rental history available.
Key Highlights
- 3,120‑square‑foot side‑by‑side duplex with two residential units
- Each unit includes 3 bedrooms on the second floor
- Unit #6 has 2 full baths; Unit 8 has 1 full bath
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
$42,175
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
5.82%
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%
$843,500
$843.5K
Cap Rate 7%
$602,500
$602.5K
Cap Rate 9%
$468,611
$468.6K
Market Conditions
NOI Build-Up for 3,120 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
$61.8K $19.80/SF
− Vacancy
−$1.5K −$0.49/SF
EGI
$60.3K $19.31/SF
− OpEx
−$18.1K −$5.79/SF
NOI
$42.2K $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%
$843,500
Cap Rate 7%
$602,500
Cap Rate 9%
$468,611
Alternative Uses
Best Use
Multifamily LT 5
$602.5K
$527.2K – $702.9K
NOI $42,175 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$524.3K
$458.8K – $611.7K
NOI $36,704 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.07M
$932.3K – $1.24M
NOI $74,580 @ 7.0% cap · market cap 10.29%
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
1,069
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 residential units offer three-bedroom layouts, separate living areas, and shared outdoor space in Milford.
Where is this duplex located?
The property is located at 6-8 Gibbon Avenue Milford, MA.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: 3,120‑square‑foot side‑by‑side duplex with two residential units; Each unit includes 3 bedrooms on the second floor; Unit #6 has 2 full baths; Unit 8 has 1 full bath
