Two-Unit Residential Income
For Sale
$695,000
261 Stone Street, Walpole, MA 02081
Two-family duplex with separate utilities, each unit offering two bedrooms, an eat-in kitchen, and a full bath.
Property Size1,398 SF
Price / SF$497.14
Days on Market106
Property Features for 261 Stone Street
General Information
Standard status
Active
Size
1,398 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
GR
Net Operating Income
$44,400
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,878
Building Details
Building Size
1,398 SF
Year Built
1900
Stories
2
Tenancy
Multi
Listing Agency:
RE/MAX Real Estate Center
(508) 668-4634
Listed By:
Rossana Gonser · License #9056567
(508) 280-1234
Source:
Churchillprop
Added: Jul 7
Changed: Oct 6
Last Checked: Oct 19 at 5:11AM
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 RE/MAX Real Estate Center
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Investment Insights
Based on property information with market context.
This well-maintained two-family duplex features two separate residential units, each with a living room, eat-in kitchen, two bedrooms, and a full bath. Utilities are separated, and both units are heated with gas-fired FHW. Updated circuit breakers are included, and the home has seen recent improvements including a new roof, and additional heating and hot water upgrades for both the first- and second-floor units. The property also includes two washers and two dryers.
Located in Walpole’s high school district, the property is described as within walking distance of Walpole Center and the commuter rail, as well as town pool, playground, library, high school athletic fields, tennis courts, and the Walpole Town Forest.
The layout supports either an investor or owner-occupant strategy with tenants-at-will currently in place, and the included laundry equipment supports daily convenience for the household units.
Located in Walpole’s high school district, the property is described as within walking distance of Walpole Center and the commuter rail, as well as town pool, playground, library, high school athletic fields, tennis courts, and the Walpole Town Forest.
The layout supports either an investor or owner-occupant strategy with tenants-at-will currently in place, and the included laundry equipment supports daily convenience for the household units.
Key Highlights
- Two‑family duplex with separate utilities; each unit has a living room, eat‑in kitchen, two bedrooms, and a full bath
- Gas‑fired FHW heating plus updated circuit breakers
- 1st floor unit has new roof, new heating system, and new hot water tank
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,043
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,860
$500.9K
Cap Rate 7%
$357,757
$357.8K
Cap Rate 9%
$278,256
$278.3K
Market Conditions
NOI Build-Up for 1,398 SF
Gross rent
$37.7K $27.00/SF
− Vacancy
−$2.0K −$1.41/SF
EGI
$35.8K $25.59/SF
− OpEx
−$10.7K −$7.68/SF
NOI
$25.0K $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 Rate 5%
$500,860
Cap Rate 7%
$357,757
Cap Rate 9%
$278,256
Alternative Uses
Best Use
Multifamily LT 5
$357.8K
$313.0K – $417.4K
NOI $25,043 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$330.1K
$288.8K – $385.1K
NOI $23,106 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$827.6K
$724.2K – $965.6K
NOI $57,933 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 02081, MA
20,584
Population
7,663
Households
2.7
Avg Household Size
43
Median Age
61%
College-Educated
97%
High-School Grad
17.7 sq mi
ZIP Area
1,163
Density / Sq Mi
$150,233
Median Household Income
$75,808
Median Earnings
$1,980
Median Rent
$647,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family duplex with separate utilities, each unit offering two bedrooms, an eat-in kitchen, and a full bath.
Where is this duplex located?
The property is located at 261 Stone Street Walpole, MA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two‑family duplex with separate utilities; each unit has a living room, eat‑in kitchen, two bedrooms, and a full bath; Gas‑fired FHW heating plus updated circuit breakers; 1st floor unit has new roof, new heating system, and new hot water tank
