Renovated Duplex with Rental
For Sale
$739,900
43 Mayflower St, Plymouth, MA 02360
Two updated units offer separate utilities, parking, and basement laundry.
Property Size2,082 SF
Price / SF$355.38
Days on Market22
Property Features for 43 Mayflower St
General Information
Standard status
Active
Size
2,082 SF
Property subtype
2 Family - 2 Units Up/Down
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
coin-operated laundry
yard
storage shed
three-season porch
Building Details
Building Size
2,082 SF
Year Built
1900
Year Renovated
2024
Buildings
1
Listing Agency:
IVerty Realty, LLC
(413) 786-0584
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 29 at 9:14PM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This 2,082-square-foot duplex contains an upper and lower residence, each with two bedrooms, four rooms, and one full bathroom. Both interiors were renovated in 2024 with updated kitchens, new appliances, contemporary bathrooms, and refreshed bedrooms. The second-floor apartment also includes a three-season porch.
The property has town water and sewer, natural gas heat with forced hot water, separate utilities, and coin-operated laundry in the basement. Designated off-street parking, a yard, and a storage shed add practical functionality. Tenants currently occupy the units, providing rental income, while the layout also supports owner occupancy with a separate residence. The home is near historic downtown Plymouth, the waterfront, restaurants, museums, shops, performance venues, Route 3, and the commuter rail.
The property has town water and sewer, natural gas heat with forced hot water, separate utilities, and coin-operated laundry in the basement. Designated off-street parking, a yard, and a storage shed add practical functionality. Tenants currently occupy the units, providing rental income, while the layout also supports owner occupancy with a separate residence. The home is near historic downtown Plymouth, the waterfront, restaurants, museums, shops, performance venues, Route 3, and the commuter rail.
Key Highlights
- 2,082‑square‑foot duplex with two residential units
- Both units renovated in 2024 with updated kitchens, appliances, bathrooms, and bedrooms
- Each unit includes 2 bedrooms, 4 rooms, and 1 full bath
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
$35,187
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
4.76%
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%
$703,740
$703.7K
Cap Rate 7%
$502,671
$502.7K
Cap Rate 9%
$390,967
$391.0K
Market Conditions
NOI Build-Up for 2,082 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
$53.1K $25.50/SF
− Vacancy
−$2.8K −$1.36/SF
EGI
$50.3K $24.14/SF
− OpEx
−$15.1K −$7.24/SF
NOI
$35.2K $16.90/SF
Area
Plymouth County, MA
Vacancy
5.32%
Lease Rate
$25.50 /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%
$703,740
Cap Rate 7%
$502,671
Cap Rate 9%
$390,967
Alternative Uses
Best Use
Multifamily LT 5
$502.7K
$439.8K – $586.5K
NOI $35,187 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$463.3K
$405.4K – $540.5K
NOI $32,429 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,278 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 02360, MA
61,134
Population
28,598
Households
2.1
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
96.4 sq mi
ZIP Area
634
Density / Sq Mi
$111,975
Median Household Income
$55,595
Median Earnings
$1,831
Median Rent
$494,700
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?
Duplex - Two updated units offer separate utilities, parking, and basement laundry.
Where is this duplex located?
The property is located at 43 Mayflower St Plymouth, MA.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: 2,082‑square‑foot duplex with two residential units; Both units renovated in 2024 with updated kitchens, appliances, bathrooms, and bedrooms; Each unit includes 2 bedrooms, 4 rooms, and 1 full bath
