Duplex With Detached
New
For Sale
$1,299,900
33 Russell Rd, Hanover, MA 02339
Two-unit residential property with separate living areas, a finished lower level, and additional storage.
Property Size5,206 SF
Lot Size1.19 Acres
Days on Market2
Property Features for 33 Russell Rd
General Information
Standard status
Active
Size
5,206 SF
Total Parking Spaces
11
Lot size
1.19 Acres
Property subtype
Multi Family Home
Zoning
Res
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 2BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,797
Building Details
Building Size
5,206 SF
Year Built
1935
Stories
3
Units
1
Listing Agency:
Coldwell Banker Realty - Easton
(508) 930-0644
Listed By:
Michelle Walker
(508) 930-0644
Source:
Aucoinryanrealty
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 1:21PM
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 Coldwell Banker Realty - Easton
Investment Insights
Based on property information with market context.
Built in 1935, this residential duplex offers more than 4,200 square feet across two distinct living units on a 1.19-acre cul-de-sac parcel. The primary residence includes three bedrooms, 2.5 baths, a home office, kitchen with breakfast nook, great room with deck access, primary suite, and finished lower level.
The second unit provides two bedrooms, 1.5 baths, a granite-finished kitchen, dining area, and second-floor laundry. A detached garage with storage adds functional space for vehicles, equipment, or household needs. The property is zoned Res and located at 33 Russell Rd in Hanover, Massachusetts.
The second unit provides two bedrooms, 1.5 baths, a granite-finished kitchen, dining area, and second-floor laundry. A detached garage with storage adds functional space for vehicles, equipment, or household needs. The property is zoned Res and located at 33 Russell Rd in Hanover, Massachusetts.
Key Highlights
- More than 4,200 square feet on a 1.19‑acre cul‑de‑sac lot
- Two‑unit layout with a 3‑bedroom main residence and a 2‑bedroom second unit
- Main residence includes 2.5 baths, home office, breakfast nook, deck access, and finished lower level
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
$87,983
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
6.77%
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%
$1,759,660
$1.8M
Cap Rate 7%
$1,256,900
$1.3M
Cap Rate 9%
$977,589
$977.6K
Market Conditions
NOI Build-Up for 5,206 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
$132.8K $25.50/SF
− Vacancy
−$7.1K −$1.36/SF
EGI
$125.7K $24.14/SF
− OpEx
−$37.7K −$7.24/SF
NOI
$88.0K $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%
$1,759,660
Cap Rate 7%
$1,256,900
Cap Rate 9%
$977,589
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $87,983 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $81,089 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$3.08M
$2.70M – $3.60M
NOI $215,735 @ 7.0% cap · market cap 16.60%
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
137
Businesses Nearby
Explore this area
Business Placement
Demographics for 02339, MA
14,833
Population
4,974
Households
3
Avg Household Size
42
Median Age
57%
College-Educated
96%
High-School Grad
15.5 sq mi
ZIP Area
957
Density / Sq Mi
$174,821
Median Household Income
$69,688
Median Earnings
$1,642
Median Rent
$706,200
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-unit residential property with separate living areas, a finished lower level, and additional storage.
Where is this duplex located?
The property is located at 33 Russell Rd Hanover, MA.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: More than 4,200 square feet on a 1.19‑acre cul‑de‑sac lot; Two‑unit layout with a 3‑bedroom main residence and a 2‑bedroom second unit; Main residence includes 2.5 baths, home office, breakfast nook, deck access, and finished lower level
