Two-Unit Residential Income
For Sale
$680,000
Pending
73 Frye St, Marlborough, MA 01752
Well-maintained two-family home on a corner lot with separate utilities, updated kitchens, and off-street parking.
Property Size2,120 SF
Days on Market62
Property Features for 73 Frye St
General Information
Standard status
Pending
Size
2,120 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Building Size
2,120 SF
Year Built
1890
Stories
3
Listing Agency:
New England Premier Properties
Listed By:
Gus Coutard
(339) 221-2595
Source:
Iverty
Added: Jul 9
Changed: Aug 23
Last Checked: Jul 23 at 7:34AM
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 New England Premier Properties
Investment Insights
Based on property information with market context.
This well-maintained two-family residential income property features a classic layout with separate utilities and multiple finished spaces across three levels. The first-floor unit offers five rooms with 2–3 bedrooms and an updated eat-in kitchen. The second-floor unit also provides five rooms with three bedrooms, a spacious eat-in kitchen, and a laundry area off the rear hallway. A walk-up third floor includes two finished rooms previously used for storage, offering additional flexible space. Gas heat is in place, along with two laundry hookups, and the roof is described as newer.
The property sits on a corner lot and includes two driveways for off-street parking. Lead compliance certificates are noted for both units.
Additional practical highlights include the wraparound porch and the separate utility setup supporting independent occupancy between the two units.
The property sits on a corner lot and includes two driveways for off-street parking. Lead compliance certificates are noted for both units.
Additional practical highlights include the wraparound porch and the separate utility setup supporting independent occupancy between the two units.
Key Highlights
- 1890 two‑family home with wraparound porch on a corner lot
- First‑floor unit: five rooms with 2–3 bedrooms and an updated eat‑in kitchen
- Second‑floor unit: five rooms with three bedrooms, spacious eat‑in kitchen, and laundry area off the rear hallway
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
$44,860
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
6.60%
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%
$897,200
$897.2K
Cap Rate 7%
$640,857
$640.9K
Cap Rate 9%
$498,444
$498.4K
Market Conditions
NOI Build-Up for 2,120 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
$67.4K $31.80/SF
− Vacancy
−$3.3K −$1.57/SF
EGI
$64.1K $30.23/SF
− OpEx
−$19.2K −$9.07/SF
NOI
$44.9K $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 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%
$897,200
Cap Rate 7%
$640,857
Cap Rate 9%
$498,444
Alternative Uses
Best Use
Multifamily LT 5
$640.9K
$560.8K – $747.7K
NOI $44,860 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$602.6K
$527.3K – $703.0K
NOI $42,181 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$1.26M
$1.10M – $1.46M
NOI $87,852 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
Explore this area
Business Placement
Demographics for 01752, MA
41,793
Population
17,370
Households
2.4
Avg Household Size
40
Median Age
41%
College-Educated
89%
High-School Grad
20.9 sq mi
ZIP Area
2,000
Density / Sq Mi
$95,047
Median Household Income
$49,012
Median Earnings
$1,721
Median Rent
$485,400
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 - Well-maintained two-family home on a corner lot with separate utilities, updated kitchens, and off-street parking.
Where is this duplex located?
The property is located at 73 Frye St Marlborough, MA.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: 1890 two‑family home with wraparound porch on a corner lot; First‑floor unit: five rooms with 2–3 bedrooms and an updated eat‑in kitchen; Second‑floor unit: five rooms with three bedrooms, spacious eat‑in kitchen, and laundry area off the rear hallway
