Duplex with Attached In-Law
For Sale
$749,900
297 Elm St, Somerset, MA 02726
Two connected residences offer separate living areas, finished lower levels, and a shared two-car garage.
Property Size2,164 SF
Price / SF$346.53
Days on Market94
Property Features for 297 Elm St
General Information
Standard status
Active
Size
2,164 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
R1
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,477
Amenities
wood-burning fireplace
central air conditioning
private deck
finished basement
Building Details
Building Size
2,164 SF
Year Built
1977
Stories
4
Construction
Raised Ranch
Listing Agency:
REMAX Executive Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 31
Changed: Aug 31
Last Checked: Aug 31 at 1:56PM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This duplex combines a raised-ranch home with a connected in-law residence, creating two distinct living spaces within one property. The primary residence includes an open arrangement linking the eat-in kitchen, dining area, and living room, along with a wood-burning fireplace. Its upper level has three bedrooms, one full bathroom, and central air conditioning, while the finished lower level adds a divided family room, a second fireplace, and access to the garage.
An enclosed hallway through the garage connects the second residence. That unit features an upper-level eat-in kitchen and living room, a second-floor primary bedroom with private deck access, and a finished basement with two bedrooms, a full bathroom, and a bonus room. A separate utility and laundry room completes the lower level. The property is located at 297 Elm St in Somerset and was built in 1977 within R1 zoning.
An enclosed hallway through the garage connects the second residence. That unit features an upper-level eat-in kitchen and living room, a second-floor primary bedroom with private deck access, and a finished basement with two bedrooms, a full bathroom, and a bonus room. A separate utility and laundry room completes the lower level. The property is located at 297 Elm St in Somerset and was built in 1977 within R1 zoning.
Key Highlights
- Duplex configuration with an attached in‑law residence
- Main residence includes 3 bedrooms and 1 full bathroom
- Second residence includes 3 bedrooms, 1 full bathroom, and a bonus room
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
$38,673
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
5.16%
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%
$773,460
$773.5K
Cap Rate 7%
$552,471
$552.5K
Cap Rate 9%
$429,700
$429.7K
Market Conditions
NOI Build-Up for 2,164 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
$59.7K $27.60/SF
− Vacancy
−$4.5K −$2.07/SF
EGI
$55.2K $25.53/SF
− OpEx
−$16.6K −$7.66/SF
NOI
$38.7K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /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%
$773,460
Cap Rate 7%
$552,471
Cap Rate 9%
$429,700
Alternative Uses
Best Use
Multifamily LT 5
$552.5K
$483.4K – $644.6K
NOI $38,673 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$513.4K
$449.3K – $599.0K
NOI $35,940 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,249 @ 7.0% cap · market cap 12.30%
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
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 02726, MA
15,671
Population
6,719
Households
2.3
Avg Household Size
46
Median Age
37%
College-Educated
93%
High-School Grad
5.5 sq mi
ZIP Area
2,849
Density / Sq Mi
$110,427
Median Household Income
$65,106
Median Earnings
$1,316
Median Rent
$389,300
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 connected residences offer separate living areas, finished lower levels, and a shared two-car garage.
Where is this duplex located?
The property is located at 297 Elm St Somerset, MA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Duplex configuration with an attached in‑law residence; Main residence includes 3 bedrooms and 1 full bathroom; Second residence includes 3 bedrooms, 1 full bathroom, and a bonus room
