Updated Two-Unit
For Sale
$289,000
35 Summer St, Orange, MA 01364
Corner-lot property with two-bedroom apartments, separate utilities, and a vacant first-floor residence.
Property Size1,960 SF
Price / SF$147.45
Days on Market139
Property Features for 35 Summer St
General Information
Standard status
Active
Size
1,960 SF
Total Parking Spaces
7
Property subtype
Multi-Family
Zoning
A
Net Operating Income
$12,840
Taxes and HOA fees
Annual Taxes
$2,538
Building Details
Building Size
1,960 SF
Year Built
1900
Stories
2
Listing Agency:
www.HomeZu.com
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 17
Changed: Sep 2
Last Checked: Sep 2 at 1:36PM
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 www.HomeZu.com
Investment Insights
Based on property information with market context.
This two-family residence includes two separate apartments, each arranged with two bedrooms. The first-floor unit is vacant and includes a renovated kitchen with quartz countertops and newer stainless steel appliances. The upper apartment includes access to a walk-up attic that may provide additional expansion space. Recent property improvements include a new roof, insulated windows and doors, and updated plumbing and heating systems.
Located at 35 Summer St in Orange, Massachusetts, the property occupies a corner lot near the town center and major routes. Separate electric, heat, and hot-water utilities support independent operation for each unit. Exterior features include porches, a deck, and a yard. The home was built in 1900 and is identified with A zoning.
Located at 35 Summer St in Orange, Massachusetts, the property occupies a corner lot near the town center and major routes. Separate electric, heat, and hot-water utilities support independent operation for each unit. Exterior features include porches, a deck, and a yard. The home was built in 1900 and is identified with A zoning.
Key Highlights
- Two apartments, each with a two‑bedroom layout
- Vacant first‑floor unit with quartz kitchen counters and newer stainless steel appliances
- Upper‑level walk‑up attic offers additional expansion 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
$26,025
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
9.01%
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%
$520,500
$520.5K
Cap Rate 7%
$371,786
$371.8K
Cap Rate 9%
$289,167
$289.2K
Market Conditions
NOI Build-Up for 1,960 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
$49.4K $25.20/SF
− Vacancy
−$2.1K −$1.06/SF
EGI
$47.3K $24.14/SF
− OpEx
−$21.3K −$10.86/SF
NOI
$26.0K $13.28/SF
Area
Franklin County, MA
Vacancy
4.20%
Lease Rate
$25.20 /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%
$520,500
Cap Rate 7%
$371,786
Cap Rate 9%
$289,167
Alternative Uses
Best Use
Multifamily LT 5
$411.2K
$359.8K – $479.7K
NOI $28,783 @ 7.0% cap · market cap 9.96%
Second Best
Apartment 5plus
$371.8K
$325.3K – $433.8K
NOI $26,025 @ 7.0% cap · market cap 9.01%
Theoretical Best
Healthcare Medical
$812.8K
$711.2K – $948.2K
NOI $56,893 @ 7.0% cap · market cap 19.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Explore this area
Business Placement
Demographics for 01364, MA
7,665
Population
3,435
Households
2.2
Avg Household Size
45
Median Age
16%
College-Educated
90%
High-School Grad
36.0 sq mi
ZIP Area
213
Density / Sq Mi
$54,061
Median Household Income
$37,525
Median Earnings
$745
Median Rent
$226,000
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?
Duplex - Corner-lot property with two-bedroom apartments, separate utilities, and a vacant first-floor residence.
Where is this duplex located?
The property is located at 35 Summer St Orange, MA.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two apartments, each with a two‑bedroom layout; Vacant first‑floor unit with quartz kitchen counters and newer stainless steel appliances; Upper‑level walk‑up attic offers additional expansion space
