Two-Residence Multifamily
New
For Sale
$2,195,000
343 Tonset Road, Orleans, MA 02653
The property includes a primary home, second residence, oversized garage, and detached barn with additional storage.
Property Size4,626 SF
Lot Size2.30 Acres
Price / SF$474.49
Days on Market4
Property Features for 343 Tonset Road
General Information
Standard status
Active
Size
4,626 SF
Total Parking Spaces
6
Lot size
2.30 Acres
Property subtype
Residential Income
Zoning
R
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,843
Building Details
Building Size
4,626 SF
Year Built
1973
Buildings
3
Stories
1
Listing Agency:
LuxRECapeCod, Inc.
(774) 316-2604
Listed By:
LUXRECapeCod
(774) 316-2604
Source:
Laerrealty
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 4:48AM
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 LuxRECapeCod, Inc.
Investment Insights
Based on property information with market context.
This multifamily property spans 2.3 private acres in Orleans and includes two separate residences, a detached barn, and stone wall boundaries. The primary home offers nearly 3,500 square feet of single-level living with 8 rooms, 3 bedrooms, 2.5 baths, and an oversized 868-square-foot two-car garage. The second residence contains 1,133 square feet, 3 bedrooms, and 2 baths.
Built in 1812, the second home adds historic character to the compound. A detached one-car barn provides additional storage and utility. The property is near the water and a nearby landing, with the setting described as consistent with the surrounding Cape Cod character. The main residence is suited to year-round living or extended family gatherings.
Built in 1812, the second home adds historic character to the compound. A detached one-car barn provides additional storage and utility. The property is near the water and a nearby landing, with the setting described as consistent with the surrounding Cape Cod character. The main residence is suited to year-round living or extended family gatherings.
Key Highlights
- 2.3 private acres framed by classic stone walls
- Primary residence offers nearly 3,500 square feet, 8 rooms, 3 bedrooms, and 2.5 baths
- 868‑square‑foot oversized garage with space for two vehicles
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
$92,697
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
4.22%
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%
$1,853,940
$1.9M
Cap Rate 7%
$1,324,243
$1.3M
Cap Rate 9%
$1,029,967
$1.0M
Market Conditions
NOI Build-Up for 4,626 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
$173.8K $37.56/SF
− Vacancy
−$5.2K −$1.13/SF
EGI
$168.5K $36.43/SF
− OpEx
−$75.8K −$16.39/SF
NOI
$92.7K $20.04/SF
Area
Barnstable County, MA
Vacancy
3.00%
Lease Rate
$37.56 /SF/Yr
Expense Ratio
45.00%
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%
$1,853,940
Cap Rate 7%
$1,324,243
Cap Rate 9%
$1,029,967
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,697 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $131,959 @ 7.0% cap · market cap 6.01%
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
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 02653, MA
6,307
Population
5,685
Households
1.1
Avg Household Size
63
Median Age
59%
College-Educated
99%
High-School Grad
12.1 sq mi
ZIP Area
521
Density / Sq Mi
$98,798
Median Household Income
$45,853
Median Earnings
$1,181
Median Rent
$816,700
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?
Multifamily property - The property includes a primary home, second residence, oversized garage, and detached barn with additional storage.
Where is this multifamily property located?
The property is located at 343 Tonset Road Orleans, MA.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: 2.3 private acres framed by classic stone walls; Primary residence offers nearly 3,500 square feet, 8 rooms, 3 bedrooms, and 2.5 baths; 868‑square‑foot oversized garage with space for two vehicles
