Two-Home Multifamily
New
For Sale
$2,195,000
343 Tonset Road, Orleans, MA 02653
MULTI_FAMILY - Orleans, MA
Property Size4,626 SF
Lot Size2.30 Acres
Price / SF$474.49
Days on Market6
Property Features for 343 Tonset Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 6, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 4, Bedroom 5, Bathroom 2
Parking
6
Parking features
Off Street
Exterior features
Private Yard
Fireplace
1
Lot features
Level, Wooded
Elementary school district
Nauset
Middle school district
Nauset
High school district
Nauset
Directions
Main to Tonset almost to end on right
Subdivision
Orleans
Standard status
Active
APN
ORLE M:0005 B:0000 L:0079-0
Size
4,626 SF
Lot size
2.30 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10843
Utilities
Sewer type
Septic Tank
Heating system
Oil, Forced Air
Water source
Public
Building Details
Year built
1973
Floors in Building
1
Flooring type
Vinyl, Laminate, Carpet
Building materials
Shingle Siding
Roof type
Asphalt
Listing Agency:
LuxRECapeCod, Inc.
(774) 207-0123
Listed By:
LUXRECapeCod Luxrecapecod
(774) 316-2604
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 5:06AM
MLS# 22603755
Copyright © 2026 Cape Cod & Islands Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property includes two separate residences on 2.3 acres in East Orleans. The primary home offers nearly 3,500 square feet of single-level living with 8 rooms, 3 bedrooms, 2.5 baths, and an 868-square-foot attached two-car garage. A second residence contributes 1,133 square feet with 3 bedrooms and 2 baths. A detached one-car barn provides additional storage or workspace.
The grounds feature a private yard, classic stone walls, shingle siding, asphalt roofing, and off-street parking. Interior finishes include vinyl, carpet, and laminate flooring, while heating is provided by an oil-fired forced-air system. The property uses public water and a septic tank, with a fireplace adding another existing residential feature. The surrounding setting is near the water and includes a nearby landing.
The grounds feature a private yard, classic stone walls, shingle siding, asphalt roofing, and off-street parking. Interior finishes include vinyl, carpet, and laminate flooring, while heating is provided by an oil-fired forced-air system. The property uses public water and a septic tank, with a fireplace adding another existing residential feature. The surrounding setting is near the water and includes a nearby landing.
Key Highlights
- Two residences situated on 2.3 acres
- Primary home offers nearly 3,500 square feet, 8 rooms, 3 bedrooms, and 2.5 baths
- 868‑square‑foot attached garage accommodates 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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Private two-residence property with substantial living areas, a detached barn, and coastal surroundings in East Orleans.
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: Two residences situated on 2.3 acres; Primary home offers nearly 3,500 square feet, 8 rooms, 3 bedrooms, and 2.5 baths; 868‑square‑foot attached garage accommodates two vehicles
