Renovated Two-Family
New
For Sale
$799,999
386-R N Main St, Randolph, MA 02368
Vacant two-family property with updated systems, appliances, flooring, paint, and electrical service.
Property Size2,288 SF
Days on Market6
Property Features for 386-R N Main St
General Information
Standard status
Active
Size
2,288 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 6BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,463
Building Details
Building Size
2,288 SF
Year Built
1940
Buildings
1
Stories
3
Units
2
Listed By:
Kevin Leonard
(781) 492-8561
Source:
Elliman
Added: Sep 18
Last Checked: Sep 22 at 5:02PM
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 Kevin Leonard
Investment Insights
Based on property information with market context.
Built in 1940, this vacant two-family property at 386-R N Main St includes 8 bedrooms across two units. The first unit has 2 bedrooms and 1 bath, while the second offers 6 bedrooms and 1.5 baths. Recent updates include new appliances, flooring, paint, two heating systems, and a 200-amp electrical service. The property also includes a sizable backyard.
The location provides access to public transportation, highways, and shops, with Blue Hills Reservation minutes away. The vacant configuration supports either owner occupancy or an investor purchase.
The location provides access to public transportation, highways, and shops, with Blue Hills Reservation minutes away. The vacant configuration supports either owner occupancy or an investor purchase.
Key Highlights
- 8‑bedroom two‑family property with a 2‑bedroom, 1‑bath unit and a 6‑bedroom, 1.5‑bath unit
- Renovated with new appliances, flooring, and paint
- Two new heating systems installed
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
$40,986
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
5.12%
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%
$819,720
$819.7K
Cap Rate 7%
$585,514
$585.5K
Cap Rate 9%
$455,400
$455.4K
Market Conditions
NOI Build-Up for 2,288 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
$61.8K $27.00/SF
− Vacancy
−$3.2K −$1.41/SF
EGI
$58.6K $25.59/SF
− OpEx
−$17.6K −$7.68/SF
NOI
$41.0K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$819,720
Cap Rate 7%
$585,514
Cap Rate 9%
$455,400
Alternative Uses
Best Use
Multifamily LT 5
$585.5K
$512.3K – $683.1K
NOI $40,986 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$540.2K
$472.7K – $630.3K
NOI $37,816 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$1.35M
$1.19M – $1.58M
NOI $94,814 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
822
Businesses Nearby
Explore this area
Business Placement
Demographics for 02368, MA
35,025
Population
13,091
Households
2.7
Avg Household Size
42
Median Age
35%
College-Educated
88%
High-School Grad
9.3 sq mi
ZIP Area
3,766
Density / Sq Mi
$103,321
Median Household Income
$52,614
Median Earnings
$2,049
Median Rent
$464,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-family property with updated systems, appliances, flooring, paint, and electrical service.
Where is this duplex located?
The property is located at 386-R N Main St Randolph, MA.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: 8‑bedroom two‑family property with a 2‑bedroom, 1‑bath unit and a 6‑bedroom, 1.5‑bath unit; Renovated with new appliances, flooring, and paint; Two new heating systems installed
