Two-Unit Residential Income
261 Stone Street Walpole, MA 02081
261 Stone Street, Walpole, MA, 02081
$695,000
For Sale
$695,000
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 Market28
Property Features for 261 Stone Street
General Information
- Standard status
- Active
- Size
- 1,398 SF
- Property subtype
- 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1900
Listing agency
RE/MAX Real Estate Center
(508) 280-1234
Listed by
Rossana Gonser · License #9056567
(508) 280-1234
Source
Lockandkeyre
Added: Jun 24 Updated: Jul 21 at 12:16AM Checked: Jul 21 at 3:12AM
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
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
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.7k | $27.00 |
| − Vacancy | −$2.0k | −$1.41 |
| EGI | $35.8k | $25.59 |
| − OpEx | −$10.7k | −$7.68 |
| NOI | $25.0k | $17.91 |
1,398 SF · lease $27.00/SF/yr · vacancy 5.22% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Minuteman Drain Cleaning
Hardware & Home Improvement
Similar For Sale Nearby
FAQs
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
