Two-Unit Duplex with Private
For Sale
$659,000
Pending
260 Main St, Groveland, MA 01834
MULTI_FAMILY - Groveland, MA
Property Size2,275 SF
Lot Size0.12 Acres
Days on Market50
Property Features for 260 Main St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1
Parking
3
Elementary school
Bagnall
Middle school
Pentucket
High school
Pentucket
Directions
Main Street to Route 113.
Standard status
Pending
APN
M:11 B:151 L:0,1914265
Size
2,275 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7113
Building Details
Year built
1857
Floors in Building
4
Number of units
2
Listing Agency:
Keller Williams Realty Evolution
(978) 992-4050
Listed By:
Keller Williams Realty Evolution
Added: Jun 24
Changed: Aug 2
Last Checked: Aug 12 at 9:06AM
MLS# 73540967
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Duplex property featuring two separate apartments with private decks overlooking the landscaped yard and a park. Built in 1857, the home has undergone many renovations, including newer windows and a newer roof. The units are served by separate utilities, with gas heat and hot water, plus town water and sewer.
The second-floor apartment includes in-unit washer and dryer hookup and offers a spiral staircase down to a finished walk-out lower level that can be used as an office, bedroom, or playroom that is part of the second-floor unit. The first floor includes a kitchen, bedroom, and family room.
The property sits on a 0.1185-acre lot and includes 2,275 square feet of building area.
The second-floor apartment includes in-unit washer and dryer hookup and offers a spiral staircase down to a finished walk-out lower level that can be used as an office, bedroom, or playroom that is part of the second-floor unit. The first floor includes a kitchen, bedroom, and family room.
The property sits on a 0.1185-acre lot and includes 2,275 square feet of building area.
Key Highlights
- 0.1185‑acre lot with 2,275 SF duplex built in 1857
- Zoned B duplex with separate utilities for each unit
- Newer windows and a newer roof as part of extensive renovations
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
Multi-tenant
Tenancy
Yes
Utilities to site
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 - Duplex zoned B with separate utilities, newer windows and roof, gas heat and hot water, 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: 0.1185‑acre lot with 2,275 SF duplex built in 1857; Zoned B duplex with separate utilities for each unit; Newer windows and a newer roof as part of extensive renovations
