Renovated Two-Unit Residential
For Sale
$659,000
Pending
260 Main St, Groveland, MA 01834
Renovated two-family in Groveland with separate utilities, gas heat, town water and sewer, and private decks for each unit.
Property Size2,275 SF
Days on Market49
Property Features for 260 Main St
General Information
Standard status
Pending
Size
2,275 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Zoning
B
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,113
Building Details
Building Size
2,275 SF
Year Built
1857
Stories
3
Units
2
Listing Agency:
Keller Williams Realty Evolution
(978) 992-4050
Listed By:
Tracy Salvi · License #449588055
(617) 699-1659
Source:
Alliancepartnersre
Added: Jul 19
Changed: Aug 8
Last Checked: Jul 23 at 6:58AM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
This renovated two-family residential income property offers updated features and separate utilities for each unit. Improvements noted include newer windows and a newer roof, along with gas heat and hot water. Town water and sewer services are provided.
The layout includes private decks off each unit overlooking a landscaped yard and a park. The second-floor apartment has washer and dryer hookup and a spiral staircase leading to a finished walk-out lower level that is part of the second-floor unit, suitable for use as an office, bedroom, or playroom. The first-floor unit includes a kitchen, bedroom, and family room.
With separate living spaces and an updated configuration, the property is positioned for an owner-occupant setup while also supporting rental income from the second unit.
The layout includes private decks off each unit overlooking a landscaped yard and a park. The second-floor apartment has washer and dryer hookup and a spiral staircase leading to a finished walk-out lower level that is part of the second-floor unit, suitable for use as an office, bedroom, or playroom. The first-floor unit includes a kitchen, bedroom, and family room.
With separate living spaces and an updated configuration, the property is positioned for an owner-occupant setup while also supporting rental income from the second unit.
Key Highlights
- Renovated 2‑family home built in 1857 in Groveland, MA
- Newer windows and newer roof
- Separate utilities plus gas heat & hot water for each unit
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
$38,325
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
5.82%
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%
$766,500
$766.5K
Cap Rate 7%
$547,500
$547.5K
Cap Rate 9%
$425,833
$425.8K
Market Conditions
NOI Build-Up for 2,275 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
$57.3K $25.20/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$54.8K $24.07/SF
− OpEx
−$16.4K −$7.22/SF
NOI
$38.3K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /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%
$766,500
Cap Rate 7%
$547,500
Cap Rate 9%
$425,833
Alternative Uses
Best Use
Multifamily LT 5
$547.5K
$479.1K – $638.8K
NOI $38,325 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$494.2K
$432.4K – $576.6K
NOI $34,595 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,275 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Explore this area
Business Placement
Demographics for 01834, MA
6,752
Population
2,756
Households
2.4
Avg Household Size
46
Median Age
46%
College-Educated
97%
High-School Grad
8.9 sq mi
ZIP Area
759
Density / Sq Mi
$135,521
Median Household Income
$79,521
Median Earnings
$1,815
Median Rent
$571,900
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 - Renovated two-family in Groveland with separate utilities, gas heat, town water and sewer, and private decks for each unit.
Where is this duplex located?
The property is located at 260 Main St Groveland, MA.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: Renovated 2‑family home built in 1857 in Groveland, MA; Newer windows and newer roof; Separate utilities plus gas heat & hot water for each unit
