186 School St, Franklin MA 02038

Franklin, MA 02038
$599,900
Est. $3,193/month
4
Beds
2
Baths
2,081
Sq Ft
$288
Price/Sq Ft
0.38
Acres
1880
Year Built
Multi Family
Type
Active Under Contract Listed Sep 26, 2025 • MLS# 73428609

About this home

Prime 2-Family Investment – Updated, Income-Ready, and Walk-to-Everything. A rare opportunity for investors: this well-maintained 2-family home combines generous living spaces, desirable amenities, and recent updates for strong rental appeal and minimal upkeep. Both apartments feature spacious 2-bedroom layouts with walk-in closets and updated baths, making them easy to rent and retain quality tenants. The first-floor unit offers added value with a white eat-in kitchen, in-unit laundry, and a flexible bonus room/office. Each unit includes a spacious sun deck, while tenants also enjoy access to a private yard and off-street parking—all highly attractive features in today’s rental market. Major improvements are already done: updated electric services, recent gas boilers, and a new roof (2017). An unfinished walk-out basement provides convenient storage & easy utility access. The unbeatable walk-to-town, parks, & commuter rail location. Offer Accepted on Sat. OPEN HOUSE CANCELLED.

Facts & Features

Property Overview

Property Type
Multi Family
Property Category
Residential Income
Year Built
1880
Bedrooms
4
Full Bathrooms
2
Living Area
2,081 sq ft
Total Rooms
9
Stories
2
Levels
2

Interior Features

Flooring
Wood, Carpet
Heating
Steam, Natural Gas
Has Heating
Yes
Cooling
None
Has Cooling
No
Has Fireplace
No
Appliances
Range, Dishwasher, Refrigerator, Dryer
Interior Features
Ceiling Fan(s), Remodeled, Living Room, Kitchen, Office/Den
Laundry Features
Washer & Dryer Hookup, Electric Dryer Hookup, Washer Hookup
Basement Details
Full, Walk-Out Access, Unfinished
Window Features
Insulated Windows

Exterior & Structure

Construction Materials
Frame
Roof
Shingle
Foundation
Stone
Patio/Porch Features
Deck
Has Spa
No
Waterfront Property
No

Lot & Land

Lot Size
0.38 acres
Lot Size
16,601 sq ft
Lot Size Area
0.3800
Lot Features
Wooded, Level
Road Frontage Type
Public

Parking & Garage

Has Garage
No
Total Non-Garage Parking Spaces
5
Parking Features
Paved Drive, Off Street, Paved

Utilities & Systems

Utilities Available
for Gas Range, for Electric Dryer, Washer Hookup
Water Source
Public
Sewer
Public Sewer
Electric
Circuit Breakers, Individually Metered

Community & HOA

Community Features
Public Transportation, Shopping, Park, T-Station
Senior Community
No

Financial & Tax Information

Annual Tax Amount
$6,632
Tax Year
2025
Tax Assessed Value
$553,200
Parcel Number
M:278 L:158,91136
Zoning
Res
Financial Data Source
Owner, Projected

Additional Details

Year Built Source
Public Records
Year Built Details
Approximate
Disclosures
Owners are licensed real estate brokers. Owners intend to do an IRS Section 1031 tax deferred property exchange with a late October closing. Please see attachment for details.

Location

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Neighborhood

186 School St, Franklin MA 02038

Franklin, MA 02038

Walkability

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Schools

School information not available

Monthly Payment Calculator

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Estimated Monthly Payment $0

Payment Breakdown

Principal & Interest $0
Property Tax $553
Homeowners Insurance $200
PMI $0

Property History

Market Insights

Property Timeline

🏠
Listed for Sale
Sep 10, 2025
$599,900
Original listing
Office: Berkshire Hathaway HomeServices Page Realty
🏠
Listed for Sale
Sep 10, 2025
$599,900
Original listing
Agent: Albert Rao Office: Berkshire Hathaway HomeServices Page Realty

Price & Status History

Date Event Price Change
Sep 10, 2025 New Listing Added $599,900
Sep 10, 2025 New Listing Added $599,900

Market Statistics

Time on Market
Price per Sq Ft
$288

Tax History

Year Taxes Assessment
2025 $6,632 $553,200

Financial Details

Annual Property Tax
$6,632
Tax Year 2025
Assessed Value
$553,200

Listing Information

Listing Agent Albert Rao
Listing Office Berkshire Hathaway HomeServices Page Realty
Agent MLS ID BB300265
Office MLS ID AN1504

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