Three-Unit Residential Income
355 Palmer Avenue Falmouth, MA 02540
355 Palmer Avenue, Falmouth, MA, 02540
$750,000
For Sale
$750,000
Three-unit residential property with six bedrooms, three full baths, off-street parking, and a spacious yard.
Property Size1,876 SF
Lot Size0.50 Acres
Price / SF$399.79
Days on Market11
Property Features for 355 Palmer Avenue
General Information
- Standard status
- Active
- Size
- 1,876 SF
- Lot size
- 0.50 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1940
Listing Agency
Berkshire Hathaway HomeServices Robert Paul Properties
(508) 524-7325
Listed by
O'Neill Group
Source
Elevatedboston
Added: Jul 11 Updated: Jul 20 at 4:13 am Checked: Jul 20 at 4:13 am
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 Berkshire Hathaway HomeServices Robert Paul Properties
Investment Insights
Based on property information with market context.
This three-unit residential income property includes a total of six bedrooms and three full baths. The offering is set on a generous half-acre lot and includes off-street parking for approximately four to six vehicles. Additional storage and a spacious yard are also part of the configuration.
The property is located in Falmouth, just minutes from Falmouth Hospital, the Shining Sea Bikeway, Steamship Authority parking, public transportation, downtown shopping, restaurants, beaches, and major commuter routes.
With three separate units, the building is well suited for investors or owner-occupants seeking multi-unit residential income in a central Falmouth setting.
The property is located in Falmouth, just minutes from Falmouth Hospital, the Shining Sea Bikeway, Steamship Authority parking, public transportation, downtown shopping, restaurants, beaches, and major commuter routes.
With three separate units, the building is well suited for investors or owner-occupants seeking multi-unit residential income in a central Falmouth setting.
Key Highlights
- Three‑unit residential property built in 1940
- 6 bedrooms and 3 full baths across the three units
- Situated on a 1/2‑acre lot with a spacious yard
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.9k | $33.00 |
| − Vacancy | −$2.2k | −$1.16 |
| EGI | $59.7k | $31.85 |
| − OpEx | −$17.9k | −$9.55 |
| NOI | $41.8k | $22.29 |
1,876 SF · lease $33.00/SF/yr · vacancy 3.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$597.4K
$522.7K – $697.0K
NOI $41,819 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$537.0K
$469.9K – $626.5K
NOI $37,592 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$764.5K
$668.9K – $891.9K
NOI $53,514 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit residential property with six bedrooms, three full baths, off-street parking, and a spacious yard.
Where is this triplex located?
The property is located at 355 Palmer Avenue Falmouth, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three‑unit residential property built in 1940; 6 bedrooms and 3 full baths across the three units; Situated on a 1/2‑acre lot with a spacious yard
