Split-Entry Two-Family
For Sale
$875,000
9 Carr Road, Saugus, MA 01906
Two-family split-entry residence with updated kitchen, three-season sunroom, and fenced level lot.
Property Size2,340 SF
Price / SF$373.93
Days on Market118
Property Features for 9 Carr Road
General Information
Standard status
Active
Size
2,340 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
Call Town
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Building Size
2,340 SF
Year Built
1978
Stories
2
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
Listed By:
Wendy Carpenito
(781) 233-7300
Source:
Hometown-team
Added: May 12
Changed: Sep 5
Last Checked: May 19 at 9:21AM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
Investment Insights
Based on property information with market context.
This split-entry two-family home offers 10 total rooms across two living levels, with layouts featuring open floor plans and multiple bedroom configurations. The main level includes updated kitchen finishes with granite countertops, a peninsula with seating, a bright three-season sunroom leading to a deck, and a spacious living room with cathedral ceilings. A gas fireplace with a granite hearth, wood flooring, and a wall air conditioner support comfortable everyday use. The primary bedroom includes a convenient walk-through to a main bath with a granite top vanity.
The finished lower area provides additional flexible living space, including a family room that can function as part of the main house or as part of the legal apartment offering a living room, an eat-in kitchen with laminate flooring, and a slider to a deck. Updates include gas heat and hot water installed in 2014, along with mostly replacement windows. The property also features a large two-car garage with finished second level and electric heat, plus a convenient roof bridge to enter the home.
Outside, the home sits on a large, level fenced lot with a storage shed. The residence is described as located in the Carr Farms neighborhood.
The finished lower area provides additional flexible living space, including a family room that can function as part of the main house or as part of the legal apartment offering a living room, an eat-in kitchen with laminate flooring, and a slider to a deck. Updates include gas heat and hot water installed in 2014, along with mostly replacement windows. The property also features a large two-car garage with finished second level and electric heat, plus a convenient roof bridge to enter the home.
Outside, the home sits on a large, level fenced lot with a storage shed. The residence is described as located in the Carr Farms neighborhood.
Key Highlights
- Split‑entry two‑family home built in 1978 with 10 rooms, 3–5 bedrooms, and 2 full baths
- Updated kitchen with granite countertops and peninsula seating, plus a bright three‑season sunroom leading to a deck
- Finished lower level offers flexible living: family room usable with main house or as part of the legal apartment with living room, eat‑in kitchen, and 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
$39,420
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
4.51%
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%
$788,400
$788.4K
Cap Rate 7%
$563,143
$563.1K
Cap Rate 9%
$438,000
$438.0K
Market Conditions
NOI Build-Up for 2,340 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
$59.0K $25.20/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$56.3K $24.07/SF
− OpEx
−$16.9K −$7.22/SF
NOI
$39.4K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /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%
$788,400
Cap Rate 7%
$563,143
Cap Rate 9%
$438,000
Alternative Uses
Best Use
Multifamily LT 5
$563.1K
$492.8K – $657.0K
NOI $39,420 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$508.3K
$444.8K – $593.1K
NOI $35,583 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $96,969 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 01906, MA
28,619
Population
11,259
Households
2.5
Avg Household Size
45
Median Age
31%
College-Educated
91%
High-School Grad
11.6 sq mi
ZIP Area
2,467
Density / Sq Mi
$100,819
Median Household Income
$52,189
Median Earnings
$1,982
Median Rent
$589,500
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-family split-entry residence with updated kitchen, three-season sunroom, and fenced level lot.
Where is this duplex located?
The property is located at 9 Carr Road Saugus, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Split‑entry two‑family home built in 1978 with 10 rooms, 3–5 bedrooms, and 2 full baths; Updated kitchen with granite countertops and peninsula seating, plus a bright three‑season sunroom leading to a deck; Finished lower level offers flexible living: family room usable with main house or as part of the legal apartment with living room, eat‑in kitchen, and full bath
