Building Details

Year Built 2003

Listing Agency: www.HomeZu.com

Listed By: Jason P Saphire · License #0818954 Show Phone

Source: Leightonteam

Added: Sep 28 Changed: Oct 3 Last Checked: Oct 4 at 2:56PM

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Investment Insights

Based on property information with market context.

The post-and-beam building has a farmhouse-style design and a documented short-term rental history. The main rental space measures approximately 4,000 square feet. A finished basement includes two full bathrooms, while the upper level has a one-bedroom apartment and an 800-square-foot lofted office area.

The property was built in 2003 and renovated in 2022. A booking projection cited 120 nights for 2024.

Key Highlights

• Approximately 4,000 square feet in the main rental space
• Finished basement with two full bathrooms
• Upstairs one‑bedroom apartment and 800‑square‑foot lofted office

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

$115,420

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

5.50%

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%

$2,308,400 $2.3M

Cap Rate 7%

$1,648,857 $1.6M

Cap Rate 9%

$1,282,444 $1.3M

Market Conditions

NOI Build-Up for 5,760 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

$216.3K $37.56/SF

− Vacancy

−$6.5K −$1.13/SF

EGI

$209.9K $36.43/SF

− OpEx

−$94.4K −$16.39/SF

NOI

$115.4K $20.04/SF

Area

Barnstable County, MA

Vacancy

3.00%

Lease Rate

$37.56 /SF/Yr

Expense Ratio

45.00%

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%

$2,308,400

Cap Rate 7%

$1,648,857

Cap Rate 9%

$1,282,444

Alternative Uses

Best Use

Apartment 5plus

$1.65M

$1.44M – $1.92M (±1% cap)

NOI $115,420 @ 7.0% cap · market cap 5.50%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.35M

$2.05M – $2.74M (±1% cap)

NOI $164,307 @ 7.0% cap · market cap 7.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Short term rental ...

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Building Supply HVAC Service Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

66

Businesses Nearby

Explore this area Business Placement

Demographics for 02536, MA

19,993

Population

12,151

Households

1.6

Avg Household Size

53

Median Age

45%

College-Educated

95%

High-School Grad

27.4 sq mi

ZIP Area

730

Density / Sq Mi

$95,295

Median Household Income

$52,868

Median Earnings

$1,473

Median Rent

$496,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this short term rental properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Short term rental property - Renovated in 2022, the property combines a main rental area with an upstairs apartment and office loft.

Where is this short term rental property located?

The property is located at 156 Teaticket Hwy East Falmouth, MA.

What is the asking price?

The asking price for this property is $2,100,000.

What are key features of this property?

This property features: Approximately 4,000 square feet in the main rental space; Finished basement with two full bathrooms; Upstairs one‑bedroom apartment and 800‑square‑foot lofted office