Three-Family Home with Private
For Sale
$2,300,000
14 Nelson Avenue, Provincetown, MA 02657
Multi-Family, Provincetown, MA
Property Size3,604 SF
Lot Size0.18 Acres
Price / SF$638.18
Days on Market544
Property Features for 14 Nelson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R3
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bathroom 5, Bathroom 2, Basement, Bathroom 3, Bedroom 5, Bathroom 4, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 3
Parking
3
Parking features
Assigned
Patio and Porch features
Deck, Patio
Exterior features
Underground Sprinkler System, Private Yard
Fencing
Fenced
Fireplace
1
Basement
Walk-Out Access, Finished
Appliances
Water Heater, Gas Range, Dishwasher, Microwave, Refrigerator, Washer
Directions
RT 6, turn north on Race Point, turn right on Nelson Ave. Half way down on your left.
Subdivision
Provincetown
Standard status
Active
APN
9-2-10-0
Size
3,604 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8034
Utilities
Sewer type
Cesspool
Heating system
Electric (Heating), Propane (Heating)
Cooling system
Central Air
Water source
Well
Amenities
storage shed
exterior security cameras
Building Details
Year built
1997
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Carpet, Vinyl, Laminate
Building materials
Shingle Siding
Roof type
Shingle
Listing Agency:
The Greene Realty Group
(888) 278-5840
Listed By:
Derek J Greene · License #0225265075
(860) 560-1006
Added: Feb 22, 2025
Changed: Aug 19
Last Checked: Aug 20 at 9:06PM
MLS# 22500631
Copyright © 2026 Cape Cod & Islands Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-family home is configured as three separate units. Unit #1 offers 1,882 sq ft with two bedrooms and two bathrooms, along with a cozy fireplace and wood-burning stove, a private deck off the kitchen, and additional amenities including a generator and a water filtration system. Unit #2 includes 1,320 sq ft with two bedrooms and two bathrooms, featuring an open floor plan and laundry facilities. Unit #3 is a 400 sq ft studio with direct access to the deck and patio.
The property sits on a 0.18-acre lot and includes a fenced yard, underground sprinkler system, and storage shed. Parking is provided for three cars with assigned parking. Heating is electric and propane, and cooling is provided by central air. The home has a shingle roof and was built in 1997.
Recording security devices are installed on the exterior. The property is being sold as-is, and buyer concessions will be considered. Water source is listed as well, with sewer listed as cesspool.
The property sits on a 0.18-acre lot and includes a fenced yard, underground sprinkler system, and storage shed. Parking is provided for three cars with assigned parking. Heating is electric and propane, and cooling is provided by central air. The home has a shingle roof and was built in 1997.
Recording security devices are installed on the exterior. The property is being sold as-is, and buyer concessions will be considered. Water source is listed as well, with sewer listed as cesspool.
Key Highlights
- Unit #1: 1,882 sq ft, 2 bed, 2 bath, private deck, fireplace and wood‑burning stove, generator, water filtration system
- Unit #2: 1,320 sq ft, 2 bed, 2 bath, open floor plan, laundry facilities
- Unit #3: 400 sq ft studio with direct access to deck and patio
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
$80,339
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
3.49%
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%
$1,606,780
$1.6M
Cap Rate 7%
$1,147,700
$1.1M
Cap Rate 9%
$892,656
$892.7K
Market Conditions
NOI Build-Up for 3,604 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
$118.9K $33.00/SF
− Vacancy
−$4.2K −$1.16/SF
EGI
$114.8K $31.85/SF
− OpEx
−$34.4K −$9.55/SF
NOI
$80.3K $22.29/SF
Area
Barnstable County, MA
Vacancy
3.50%
Lease Rate
$33.00 /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%
$1,606,780
Cap Rate 7%
$1,147,700
Cap Rate 9%
$892,656
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,339 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$1.03M
$902.7K – $1.20M
NOI $72,218 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$1.47M
$1.29M – $1.71M
NOI $102,806 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Explore this area
Business Placement
Demographics for 02657, MA
3,664
Population
4,778
Households
0.8
Avg Household Size
58
Median Age
61%
College-Educated
96%
High-School Grad
9.7 sq mi
ZIP Area
378
Density / Sq Mi
$104,500
Median Household Income
$54,784
Median Earnings
$1,306
Median Rent
$769,500
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?
Triplex - Three-unit triplex with central air, fenced yard, and three off-street parking spaces plus deck and patio access.
Where is this triplex located?
The property is located at 14 Nelson Avenue Provincetown, MA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Unit #1: 1,882 sq ft, 2 bed, 2 bath, private deck, fireplace and wood‑burning stove, generator, water filtration system; Unit #2: 1,320 sq ft, 2 bed, 2 bath, open floor plan, laundry facilities; Unit #3: 400 sq ft studio with direct access to deck and patio
