Two-Unit Duplex with Corner
For Sale
$475,000
4-6 Beech Street, Bellingham, MA 02019
Each residence includes two bedrooms, one full bath, and gas heat.
Property Size1,913 SF
Price / SF$248.30
Days on Market158
Property Features for 4-6 Beech Street
General Information
Standard status
Active
Size
1,913 SF
Total Parking Spaces
4
Property subtype
Multi-family / 2 Family
Zoning
BUS1
Property Condition
Severity
Repairs Needed
Evidence
needs some TLC
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,799
Amenities
No
Wood, Vinyl, Carpet
Range, Refrigerator
2.0
Insulated Windows
Sump Pump, Concrete Floor
Living Room, Kitchen
2
2.00
Frame
Shingle
Corner Lot
Building Details
Year Built
1900
Listing Agency:
Costello Realty
(508) 528-0083
Listed By:
Shelly A. Armstrong · License #9067481
(508) 528-0083
Source:
Compass
Added: Mar 27
Changed: Aug 30
Last Checked: Aug 30 at 5:53PM
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 Costello Realty
Investment Insights
Based on property information with market context.
This two-family duplex contains 1,913 SF with two residential units, each arranged with two bedrooms, one full bathroom, a living room, and a kitchen. Interior features include wood, vinyl, and carpet flooring, insulated windows, a sump pump, and concrete-floor areas. Range and refrigerator appliances are included.
Built in 1900, the frame property has shingle siding and sits on a corner lot with a yard. Each unit is served by gas heat, public water, and a private septic system. The property is zoned BUS1 and is described as needing some TLC, presenting a renovation project for an owner-occupant or investor.
Built in 1900, the frame property has shingle siding and sits on a corner lot with a yard. Each unit is served by gas heat, public water, and a private septic system. The property is zoned BUS1 and is described as needing some TLC, presenting a renovation project for an owner-occupant or investor.
Key Highlights
- Two‑family duplex with 2 units totaling 1913 SF
- Each unit has 2 bedrooms and 1 full bath
- Gas heat, public water, and private septic
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
$34,268
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
7.21%
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%
$685,360
$685.4K
Cap Rate 7%
$489,543
$489.5K
Cap Rate 9%
$380,756
$380.8K
Market Conditions
NOI Build-Up for 1,913 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
$51.7K $27.00/SF
− Vacancy
−$2.7K −$1.41/SF
EGI
$49.0K $25.59/SF
− OpEx
−$14.7K −$7.68/SF
NOI
$34.3K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$685,360
Cap Rate 7%
$489,543
Cap Rate 9%
$380,756
Alternative Uses
Best Use
Multifamily LT 5
$489.5K
$428.4K – $571.1K
NOI $34,268 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$451.7K
$395.2K – $527.0K
NOI $31,618 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$1.13M
$990.9K – $1.32M
NOI $79,274 @ 7.0% cap · market cap 16.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 02019, MA
16,945
Population
6,555
Households
2.6
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
18.3 sq mi
ZIP Area
926
Density / Sq Mi
$120,966
Median Household Income
$61,453
Median Earnings
$1,788
Median Rent
$425,900
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 - Each residence includes two bedrooms, one full bath, and gas heat.
Where is this duplex located?
The property is located at 4-6 Beech Street Bellingham, MA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑family duplex with 2 units totaling 1913 SF; Each unit has 2 bedrooms and 1 full bath; Gas heat, public water, and private septic
