South-Facing Duplex with
For Sale
$875,000
22 Clark Street, Randolph, MA 02368
Two-unit duplex with separate driveways, an attached garage, and a finished basement in the updated owner’s unit.
Property Size2,517 SF
Price / SF$347.64
Days on Market147
Property Features for 22 Clark Street
General Information
Standard status
Active
Size
2,517 SF
Property subtype
Multi-family
Building Details
Year Built
1964
Listing Agency:
Shore Real Estate LLC
(571) 334-9628
Listed By:
The Vici Group
(508) 823-9400
Source:
Ballowhutchinsonrealestate
Added: Mar 31
Changed: Aug 23
Last Checked: Aug 24 at 6:55AM
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 Shore Real Estate LLC
Investment Insights
Based on property information with market context.
South-facing duplex offering two spacious units with a functional layout and gas heating. The owner’s unit (22A) has been updated with a new kitchen, renovated bathrooms, hardwood floors, fresh interior paint, and Navien combination boilers for heating and tankless hot water. The unit also includes a finished basement with a family room and a full bath. The tenant’s unit (22B) is rented and features hardwood flooring, with gas heat continuing throughout the property.
The property is located on a side street in Randolph near Lyons Grade School, with convenience to shops, restaurants, and major routes. Off-street parking is available with two separate driveways, plus an attached garage and outdoor space.
Set on a 12,065 sq. ft. lot, this duplex provides separate access for each unit and additional usable outdoor space alongside the finished lower level in 22A.
The property is located on a side street in Randolph near Lyons Grade School, with convenience to shops, restaurants, and major routes. Off-street parking is available with two separate driveways, plus an attached garage and outdoor space.
Set on a 12,065 sq. ft. lot, this duplex provides separate access for each unit and additional usable outdoor space alongside the finished lower level in 22A.
Key Highlights
- South‑facing 2‑unit duplex in Randolph with 6 bedrooms and 3.5 bathrooms total across both units
- 22B tenant unit rented at $2,600/month plus utilities (TAW)
- Owner’s unit 22A updated with new kitchen, renovated bathrooms, hardwood floors, fresh interior paint, and Navien combination boilers
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
$45,088
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
5.15%
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%
$901,760
$901.8K
Cap Rate 7%
$644,114
$644.1K
Cap Rate 9%
$500,978
$501.0K
Market Conditions
NOI Build-Up for 2,517 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
$68.0K $27.00/SF
− Vacancy
−$3.5K −$1.41/SF
EGI
$64.4K $25.59/SF
− OpEx
−$19.3K −$7.68/SF
NOI
$45.1K $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%
$901,760
Cap Rate 7%
$644,114
Cap Rate 9%
$500,978
Alternative Uses
Best Use
Multifamily LT 5
$644.1K
$563.6K – $751.5K
NOI $45,088 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$594.3K
$520.0K – $693.4K
NOI $41,601 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,304 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
243
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
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 duplex with separate driveways, an attached garage, and a finished basement in the updated owner’s unit.
Where is this duplex located?
The property is located at 22 Clark Street Randolph, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: South‑facing 2‑unit duplex in Randolph with 6 bedrooms and 3.5 bathrooms total across both units; 22B tenant unit rented at $2,600/month plus utilities (TAW); Owner’s unit 22A updated with new kitchen, renovated bathrooms, hardwood floors, fresh interior paint, and Navien combination boilers
