Two-Unit Residential Income
For Sale
$510,000
Pending
31 Godfrey, Taunton, MA 02780
Three-story two-family home with separate utilities and recent mechanical upgrades for each unit.
Property Size2,371 SF
Days on Market48
Property Features for 31 Godfrey
General Information
Standard status
Pending
Size
2,371 SF
Property subtype
Multi Family Home
Zoning
RES
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,009
Building Details
Building Size
2,371 SF
Year Built
1900
Stories
3
Units
2
Listing Agency:
Keller Williams Elite
(508) 942-8356
Listed By:
Michele Monteiro · License #3487881
(508) 942-8356
Source:
Alliancepartnersre
Added: Jul 4
Changed: Aug 8
Last Checked: Jul 23 at 6:39AM
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 Keller Williams Elite
Investment Insights
Based on property information with market context.
This two-family residence was originally constructed around 1900 and offers a substantial three-story footprint. The property includes approximately 2,371 square feet of living area and features six bedrooms across two units, providing flexible layouts for a range of tenant arrangements. Outdoor space is supported by a lot size of approximately 9,583 square feet.
Mechanical updates include a replaced furnace on the second floor in 2021 and a replaced water heater in 2020. Utilities are separate for each unit; however, there is no owners meter noted. The offering is described as an income-producing residential property with its own two-unit setup.
For buyers or investors seeking a straightforward two-unit structure, the separate utilities and documented mechanical replacements help support day-to-day operating considerations. The multi-bedroom configuration can appeal to tenants looking for more room within a classic multi-family format. The generous lot and three-story design may also support practical use and routine management for a resident-tenant environment.
Mechanical updates include a replaced furnace on the second floor in 2021 and a replaced water heater in 2020. Utilities are separate for each unit; however, there is no owners meter noted. The offering is described as an income-producing residential property with its own two-unit setup.
For buyers or investors seeking a straightforward two-unit structure, the separate utilities and documented mechanical replacements help support day-to-day operating considerations. The multi-bedroom configuration can appeal to tenants looking for more room within a classic multi-family format. The generous lot and three-story design may also support practical use and routine management for a resident-tenant environment.
Key Highlights
- Three‑story two‑family residence built circa 1900 at 31 Godfrey, Taunton, MA
- Total 2,371 sq ft living area and six bedrooms across the two units
- 9583 sq ft lot size with outdoor space
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
$42,372
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
8.31%
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%
$847,440
$847.4K
Cap Rate 7%
$605,314
$605.3K
Cap Rate 9%
$470,800
$470.8K
Market Conditions
NOI Build-Up for 2,371 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
$65.4K $27.60/SF
− Vacancy
−$4.9K −$2.07/SF
EGI
$60.5K $25.53/SF
− OpEx
−$18.2K −$7.66/SF
NOI
$42.4K $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%
$847,440
Cap Rate 7%
$605,314
Cap Rate 9%
$470,800
Alternative Uses
Best Use
Multifamily LT 5
$605.3K
$529.7K – $706.2K
NOI $42,372 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$562.5K
$492.2K – $656.3K
NOI $39,378 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,073 @ 7.0% cap · market cap 19.82%
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
255
Businesses Nearby
Explore this area
Business Placement
Demographics for 02780, MA
52,299
Population
22,454
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
85%
High-School Grad
33.1 sq mi
ZIP Area
1,580
Density / Sq Mi
$75,054
Median Household Income
$48,454
Median Earnings
$1,257
Median Rent
$377,800
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 - Three-story two-family home with separate utilities and recent mechanical upgrades for each unit.
Where is this duplex located?
The property is located at 31 Godfrey Taunton, MA.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Three‑story two‑family residence built circa 1900 at 31 Godfrey, Taunton, MA; Total 2,371 sq ft living area and six bedrooms across the two units; 9583 sq ft lot size with outdoor space
