Duplex with
For Sale
$624,900
17 Pearl Street, Middleboro, MA 02346
Two-unit home with private entrances, in-unit laundry, a remodeled second apartment, and outdoor space for resident use.
Property Size2,357 SF
Price / SF$265.13
Days on Market9
Property Features for 17 Pearl Street
General Information
Standard status
Active
Size
2,357 SF
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/0.75BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
in-unit laundry
deck
backyard
garage
shed
basement
vaulted ceiling
Building Details
Year Built
1880
Buildings
1
Construction
Colonial
Tenancy
Single
Listing Agency:
Goodwin Realty Group,LLC
Listed By:
Rick Leo · License #86029
(508) 726-7628
Source:
Oldeforgerealty
Added: Sep 15
Changed: Sep 21
Last Checked: Sep 22 at 5:27PM
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 Goodwin Realty Group,LLC
Investment Insights
Based on property information with market context.
This 1880 two-family property offers separate entrances and a total of 2,357 square feet. The first-floor apartment includes two bedrooms, a kitchen and dining area, a vaulted-ceiling family room, an additional living room or office, a full bathroom, and laundry. The second unit has been remodeled and includes a kitchen, living room, one bedroom, a three-quarter bathroom, and its own laundry. A basement provides storage and a semi-finished room without heat.
Exterior features include a 20 x 14 garage with electrical service, an attached 14 x 10 shed, a large deck, and an expansive backyard. Both apartments have Lead Letter of Compliance Certificates. The property is near shopping and dining and within walking distance of the Middleboro T Station. The second-floor apartment has a TAW.
Exterior features include a 20 x 14 garage with electrical service, an attached 14 x 10 shed, a large deck, and an expansive backyard. Both apartments have Lead Letter of Compliance Certificates. The property is near shopping and dining and within walking distance of the Middleboro T Station. The second-floor apartment has a TAW.
Key Highlights
- 2,357‑square‑foot two‑family property built in 1880
- First‑floor unit includes 2 bedrooms, vaulted‑ceiling family room, office or second living room, and laundry
- Remodeled second apartment with 1 bedroom and in‑unit laundry
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
$39,834
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
6.37%
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%
$796,680
$796.7K
Cap Rate 7%
$569,057
$569.1K
Cap Rate 9%
$442,600
$442.6K
Market Conditions
NOI Build-Up for 2,357 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
$60.1K $25.50/SF
− Vacancy
−$3.2K −$1.36/SF
EGI
$56.9K $24.14/SF
− OpEx
−$17.1K −$7.24/SF
NOI
$39.8K $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%
$796,680
Cap Rate 7%
$569,057
Cap Rate 9%
$442,600
Alternative Uses
Best Use
Multifamily LT 5
$569.1K
$497.9K – $663.9K
NOI $39,834 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$524.5K
$458.9K – $611.9K
NOI $36,713 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,673 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
18
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
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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 - Two-unit home with private entrances, in-unit laundry, a remodeled second apartment, and outdoor space for resident use.
Where is this duplex located?
The property is located at 17 Pearl Street Middleboro, MA.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: 2,357‑square‑foot two‑family property built in 1880; First‑floor unit includes 2 bedrooms, vaulted‑ceiling family room, office or second living room, and laundry; Remodeled second apartment with 1 bedroom and in‑unit laundry
