Duplex with Separate
New
For Sale
$849,000
511 E Palmer Avenue, Falmouth, MA 02540
A remodeled main residence and detached one-bedroom cottage provide separate living spaces on a nearly acre-sized parcel.
Property Size2,373 SF
Days on Market2
Property Features for 511 E Palmer Avenue
General Information
Standard status
Active
Size
2,373 SF
Property subtype
Multi-Family
Zoning
GR
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,971
Amenities
original stone fireplace
sunroom
breakfast bar
two decks
outdoor entertaining area
fenced-in yard
oversized garage
Building Details
Building Size
2,373 SF
Year Built
1934
Year Renovated
2019
Buildings
2
Stories
2
Listing Agency:
Classic Cape Real Estate, LLC
Listed By:
Ken Hager
(508) 737-9974
Source:
Link.flexmls
Added: Oct 28
Last Checked: Oct 28 at 4:18AM
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 Classic Cape Real Estate, LLC
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Investment Insights
Based on property information with market context.
This duplex property includes a 3-bedroom, 1.5-bath main house and a separate 1-bedroom, 1-bath cottage, with 2,373 square feet of living area. The property was remodeled in 2019. Interior features include an original stone fireplace, a sunroom and a breakfast bar. Two decks and an outdoor entertaining area extend the usable space outside, while a fenced yard occupies nearly an acre. An oversized garage is also on site and can be customized by a future owner.
Key Highlights
- 3‑bedroom, 1.5‑bath main house with separate 1‑bedroom, 1‑bath cottage
- 2,373 square feet of living area
- Remodeled in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,898
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,057,960
$1.1M
Cap Rate 7%
$755,686
$755.7K
Cap Rate 9%
$587,756
$587.8K
Market Conditions
NOI Build-Up for 2,373 SF
Gross rent
$78.3K $33.00/SF
− Vacancy
−$2.7K −$1.16/SF
EGI
$75.6K $31.85/SF
− OpEx
−$22.7K −$9.55/SF
NOI
$52.9K $22.29/SF
Area
Barnstable County, MA
Vacancy
3.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,057,960
Cap Rate 7%
$755,686
Cap Rate 9%
$587,756
Alternative Uses
Best Use
Multifamily LT 5
$755.7K
$661.2K – $881.6K
NOI $52,898 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$679.3K
$594.4K – $792.5K
NOI $47,551 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$967.0K
$846.1K – $1.13M
NOI $67,691 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
676
Businesses Nearby
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Business Placement
Demographics for 02540, MA
8,450
Population
6,200
Households
1.4
Avg Household Size
61
Median Age
59%
College-Educated
94%
High-School Grad
11.0 sq mi
ZIP Area
768
Density / Sq Mi
$88,266
Median Household Income
$52,243
Median Earnings
$1,328
Median Rent
$756,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A remodeled main residence and detached one-bedroom cottage provide separate living spaces on a nearly acre-sized parcel.
Where is this duplex located?
The property is located at 511 E Palmer Avenue Falmouth, MA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 3‑bedroom, 1.5‑bath main house with separate 1‑bedroom, 1‑bath cottage; 2,373 square feet of living area; Remodeled in 2019
