Three-Bedroom Duplex with Finished Third
New
For Sale
$749,000
240 North Avenue, Abington, MA 02351
Two-unit property with a vacant upper apartment, shared laundry, and additional finished rooms with a full bathroom.
Property Size2,816 SF
Price / SF$265.98
Days on Market7
Property Features for 240 North Avenue
General Information
Standard status
Active
Size
2,816 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
shared laundry area
Building Details
Year Built
1899
Listing Agency:
Mendes Realty
Listed By:
Alessandra Lacerda
(781) 645-7147
Source:
Elevatedboston
Added: Sep 17
Changed: Sep 21
Last Checked: Sep 22 at 5:45PM
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 Mendes Realty
Investment Insights
Based on property information with market context.
Built in 1899, this 2,816-square-foot duplex includes two primary apartments, each arranged with three bedrooms, one full bathroom, a kitchen, and living space. The second-floor apartment is vacant for delivery and also includes a separate office. A shared laundry area serves the property, with the washer and dryer updated in 2025.
The finished third floor adds two rooms and another full bathroom; this area is currently occupied. The property is located at 240 North Avenue in Abington, near schools, shopping, dining, transportation, and major routes.
The finished third floor adds two rooms and another full bathroom; this area is currently occupied. The property is located at 240 North Avenue in Abington, near schools, shopping, dining, transportation, and major routes.
Key Highlights
- 2,816 SF duplex built in 1899
- Two primary apartments, each with 3 bedrooms and 1 full bathroom
- Vacant second‑floor apartment includes a separate 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
$47,591
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
6.35%
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%
$951,820
$951.8K
Cap Rate 7%
$679,871
$679.9K
Cap Rate 9%
$528,789
$528.8K
Market Conditions
NOI Build-Up for 2,816 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
$71.8K $25.50/SF
− Vacancy
−$3.8K −$1.36/SF
EGI
$68.0K $24.14/SF
− OpEx
−$20.4K −$7.24/SF
NOI
$47.6K $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%
$951,820
Cap Rate 7%
$679,871
Cap Rate 9%
$528,789
Alternative Uses
Best Use
Multifamily LT 5
$679.9K
$594.9K – $793.2K
NOI $47,591 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$626.6K
$548.3K – $731.0K
NOI $43,862 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,694 @ 7.0% cap · market cap 15.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 02351, MA
17,085
Population
6,576
Households
2.6
Avg Household Size
41
Median Age
40%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
1,709
Density / Sq Mi
$119,787
Median Household Income
$61,646
Median Earnings
$1,547
Median Rent
$516,300
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 property with a vacant upper apartment, shared laundry, and additional finished rooms with a full bathroom.
Where is this duplex located?
The property is located at 240 North Avenue Abington, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 2,816 SF duplex built in 1899; Two primary apartments, each with 3 bedrooms and 1 full bathroom; Vacant second‑floor apartment includes a separate office
