3-Story Two-Unit
For Sale
$799,900
618-620 High Street, Bridgewater, MA 02324
Two mirror-image 3-story townhouse-style units with private rear decks, separate utilities, and updated mechanicals.
Property Size2,824 SF
Price / SF$283.25
Days on Market18
Property Features for 618-620 High Street
General Information
Standard status
Active
Size
2,824 SF
Property subtype
2 Family - 2 Units Side by Side
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1996
Stories
3
Listing Agency:
Keller Williams Realty Signature Properties
(781) 267-6854
Listed By:
Melissa Garlisi
(781) 267-6854
Source:
Lockandkeyre
Added: Jul 22
Changed: Jul 27
Last Checked: Jul 29 at 5:22AM
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 Signature Properties
Investment Insights
Based on property information with market context.
Constructed in 1996, this two-unit duplex features two mirror-image townhouse style layouts. Each unit spans three stories, including a full basement with laundry, an open floor plan on the first level, and three bedrooms on the second story with two full bathrooms. Unit 618 includes hardwood floors on the first and second floors and a partially finished basement. Unit 620 features a Shaker style kitchen with hardstone countertops and stainless steel appliances.
Each kitchen includes gas cooking, a bay window dining area, and direct access to a private rear deck overlooking the backyard. A flagstone path leads to a spacious patio, and there is also a large storage shed. The property has separate utilities for each unit, including separate systems and water meters, with updated gas heating and central air conditioning in 2023. Gas hot water heaters were replaced earlier this year (2026), and the metal roof was installed in 2017, with a vinyl-sided exterior.
Parking is provided via two paved driveways. Septic systems are in compliance, with passing Title V reports and as-built documentation in hand. The property is located on High Street and offers easy access to Bridgewater University, MBTA Commuter Rail, historic downtown, Routes 18, 24, and 44, I-495, shopping, restaurants, and conservation trails.
Each kitchen includes gas cooking, a bay window dining area, and direct access to a private rear deck overlooking the backyard. A flagstone path leads to a spacious patio, and there is also a large storage shed. The property has separate utilities for each unit, including separate systems and water meters, with updated gas heating and central air conditioning in 2023. Gas hot water heaters were replaced earlier this year (2026), and the metal roof was installed in 2017, with a vinyl-sided exterior.
Parking is provided via two paved driveways. Septic systems are in compliance, with passing Title V reports and as-built documentation in hand. The property is located on High Street and offers easy access to Bridgewater University, MBTA Commuter Rail, historic downtown, Routes 18, 24, and 44, I-495, shopping, restaurants, and conservation trails.
Key Highlights
- 1996‑built 2‑family duplex with two mirror‑image, 3‑story townhouse‑style units
- Each unit includes a full basement with laundry, open first‑floor layout, 3 bedrooms, and 2 full bathrooms
- Separate utilities for each unit, including separate systems and water meters
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
$47,727
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
5.97%
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%
$954,540
$954.5K
Cap Rate 7%
$681,814
$681.8K
Cap Rate 9%
$530,300
$530.3K
Market Conditions
NOI Build-Up for 2,824 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
$72.0K $25.50/SF
− Vacancy
−$3.8K −$1.36/SF
EGI
$68.2K $24.14/SF
− OpEx
−$20.5K −$7.24/SF
NOI
$47.7K $16.90/SF
Area
Plymouth County, MA
Vacancy
5.32%
Lease Rate
$25.50 /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%
$954,540
Cap Rate 7%
$681,814
Cap Rate 9%
$530,300
Alternative Uses
Best Use
Multifamily LT 5
$681.8K
$596.6K – $795.5K
NOI $47,727 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$628.4K
$549.8K – $733.1K
NOI $43,987 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,026 @ 7.0% cap · market cap 14.63%
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
65
Businesses Nearby
Explore this area
Business Placement
Demographics for 02324, MA
25,676
Population
9,770
Households
2.6
Avg Household Size
42
Median Age
40%
College-Educated
94%
High-School Grad
27.0 sq mi
ZIP Area
951
Density / Sq Mi
$112,445
Median Household Income
$57,560
Median Earnings
$1,975
Median Rent
$500,600
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 mirror-image 3-story townhouse-style units with private rear decks, separate utilities, and updated mechanicals.
Where is this duplex located?
The property is located at 618-620 High Street Bridgewater, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 1996‑built 2‑family duplex with two mirror‑image, 3‑story townhouse‑style units; Each unit includes a full basement with laundry, open first‑floor layout, 3 bedrooms, and 2 full bathrooms; Separate utilities for each unit, including separate systems and water meters
