Turnkey Two-Family
For Sale
$715,000
Pending
80 Pearl St, Middleboro, MA 02346
Two separate units each with two bedrooms, plus covered porch, fenced yard, and ample off-street parking.
Property Size2,692 SF
Days on Market51
Property Features for 80 Pearl St
General Information
Standard status
Pending
Size
2,692 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,249
Building Details
Building Size
2,692 SF
Year Built
1890
Stories
3
Units
2
Tenancy
Multi
Listing Agency:
Gold Key Realty LLC
(508) 631-6245
Listed By:
Chad Goldstein
(508) 631-6245
Source:
Elliman
Added: Jun 23
Changed: Aug 8
Last Checked: Jul 23 at 8:08AM
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 Gold Key Realty LLC
Investment Insights
Based on property information with market context.
This turnkey two-family home offers two distinct residential units designed for comfortable separate living. Unit 1 features two bedrooms, a spacious living room, a dining area, and a large eat-in kitchen with an island. Enjoy the covered side porch that opens to a private, fenced-in yard. Unit 2 is townhouse-style with two bedrooms, two full baths, a large living room, and an eat-in kitchen, with central air included. The third floor includes a finished bonus room that can function as a home office, guest space, or additional private room.
Both units are serviced by natural gas heat. The property also includes ample off-street parking and a well-maintained fenced yard, supporting everyday convenience and outdoor use.
This layout suits buyers seeking the flexibility of owner occupancy while generating rental income from the second unit, as well as investors looking for a well-cared-for, ready-to-go asset. The home is fully deleaded, reducing upfront compliance concerns and making it easier to plan next steps with confidence.
Both units are serviced by natural gas heat. The property also includes ample off-street parking and a well-maintained fenced yard, supporting everyday convenience and outdoor use.
This layout suits buyers seeking the flexibility of owner occupancy while generating rental income from the second unit, as well as investors looking for a well-cared-for, ready-to-go asset. The home is fully deleaded, reducing upfront compliance concerns and making it easier to plan next steps with confidence.
Key Highlights
- Turnkey 2‑family home built in 1890 with two separate units in downtown Middleboro
- Unit 1: 2 bedrooms, living room, dining area, and large eat‑in kitchen with island
- Unit 1 includes a covered side porch and a private fenced yard
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
$45,496
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
6.36%
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%
$909,920
$909.9K
Cap Rate 7%
$649,943
$649.9K
Cap Rate 9%
$505,511
$505.5K
Market Conditions
NOI Build-Up for 2,692 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
$68.6K $25.50/SF
− Vacancy
−$3.7K −$1.36/SF
EGI
$65.0K $24.14/SF
− OpEx
−$19.5K −$7.24/SF
NOI
$45.5K $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%
$909,920
Cap Rate 7%
$649,943
Cap Rate 9%
$505,511
Alternative Uses
Best Use
Multifamily LT 5
$649.9K
$568.7K – $758.3K
NOI $45,496 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$599.0K
$524.1K – $698.9K
NOI $41,931 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,556 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
Explore this area
Business Placement
Demographics for 02346, MA
24,245
Population
10,230
Households
2.4
Avg Household Size
44
Median Age
30%
College-Educated
94%
High-School Grad
69.0 sq mi
ZIP Area
351
Density / Sq Mi
$91,914
Median Household Income
$52,710
Median Earnings
$1,692
Median Rent
$426,800
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 separate units each with two bedrooms, plus covered porch, fenced yard, and ample off-street parking.
Where is this duplex located?
The property is located at 80 Pearl St Middleboro, MA.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Turnkey 2‑family home built in 1890 with two separate units in downtown Middleboro; Unit 1: 2 bedrooms, living room, dining area, and large eat‑in kitchen with island; Unit 1 includes a covered side porch and a private fenced yard
