Duplex with Private
For Sale
$719,900
Pending
28 Blanchard St, Rockland, MA 02370
Two-family property with separate utilities, private laundry, off-street parking, and one vacant unit.
Property Size1,825 SF
Days on Market77
Property Features for 28 Blanchard St
General Information
Standard status
Pending
Size
1,825 SF
Property subtype
2 Family - 2 Units Up/Down
Building Details
Year Built
1900
Listing Agency:
Lock and Key Realty
(781) 799-0883
Listed By:
Bill Fennelly
(781) 799-0883
Source:
Lockandkeyre
Added: Jun 17
Changed: Aug 30
Last Checked: Aug 31 at 3:29PM
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 Lock and Key Realty
Investment Insights
Based on property information with market context.
This 1,825-square-foot duplex, built in 1900, contains two residential units with separate utilities and individual high-efficiency gas heating systems. Both units feature updated kitchens and private laundry. The first-floor residence includes 5 rooms, 3 bedrooms, and a renovated full bathroom, while the second-floor residence offers 4 rooms, 2 bedrooms, and a full bathroom. Each unit also has access to a private rear deck.
Unit 1 is vacant, while the second-floor tenant would like to remain, creating a two-unit configuration with immediate occupancy available in one residence. The property includes off-street parking and is near shopping, restaurants, schools, commuter routes, and Downtown Rockland.
Unit 1 is vacant, while the second-floor tenant would like to remain, creating a two-unit configuration with immediate occupancy available in one residence. The property includes off-street parking and is near shopping, restaurants, schools, commuter routes, and Downtown Rockland.
Key Highlights
- 1,825‑square‑foot duplex built in 1900
- First‑floor unit: 5 rooms, 3 bedrooms, and renovated full bath
- Second‑floor unit: 4 rooms, 2 bedrooms, and full bath
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
$30,843
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
4.28%
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%
$616,860
$616.9K
Cap Rate 7%
$440,614
$440.6K
Cap Rate 9%
$342,700
$342.7K
Market Conditions
NOI Build-Up for 1,825 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
$46.5K $25.50/SF
− Vacancy
−$2.5K −$1.36/SF
EGI
$44.1K $24.14/SF
− OpEx
−$13.2K −$7.24/SF
NOI
$30.8K $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%
$616,860
Cap Rate 7%
$440,614
Cap Rate 9%
$342,700
Alternative Uses
Best Use
Multifamily LT 5
$440.6K
$385.5K – $514.1K
NOI $30,843 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$406.1K
$355.3K – $473.8K
NOI $28,426 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$1.08M
$945.4K – $1.26M
NOI $75,628 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
661
Businesses Nearby
Explore this area
Business Placement
Demographics for 02370, MA
17,803
Population
7,046
Households
2.5
Avg Household Size
43
Median Age
34%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
1,780
Density / Sq Mi
$101,475
Median Household Income
$59,489
Median Earnings
$1,497
Median Rent
$452,300
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 - Two-family property with separate utilities, private laundry, off-street parking, and one vacant unit.
Where is this duplex located?
The property is located at 28 Blanchard St Rockland, MA.
What is the asking price?
The asking price for this property is $719,900.
What are key features of this property?
This property features: 1,825‑square‑foot duplex built in 1900; First‑floor unit: 5 rooms, 3 bedrooms, and renovated full bath; Second‑floor unit: 4 rooms, 2 bedrooms, and full bath
