Duplex with Separate
New
For Sale
$849,000
511 E Palmer Avenue, Falmouth, MA 02540
Multi-Family, Colonial, Falmouth, MA
Property Size2,373 SF
Lot Size0.99 Acres
Price / SF$357.77
Days on Market4
Property Features for 511 E Palmer Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
GR
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Basement, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bathroom 3
Parking features
Driveway
Patio and Porch features
Deck
Interior features
Walk-In Closet(s), Mud Room, Linen Closet, Pantry
Exterior features
Private Yard
Fencing
Fenced
Fireplace
1
Appliances
Water Heater, Electric Range
Lot features
Gentle Sloping, Cleared, Fenced/ Enclosed, Level, Wooded
Elementary school district
Falmouth
Middle school district
Falmouth
High school district
Falmouth
Subdivision
Falmouth
Standard status
Active
APN
FALM M:0038 B:0003 L:0031-0001
Size
2,373 SF
Lot size
0.99 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4971
Utilities
Sewer type
Septic Tank
Heating system
Oil
Water source
Public
Amenities
stone fireplace
sunroom
breakfast bar
two decks
outdoor entertaining area
fenced-in yard
oversized garage
Building Details
Year built
1934
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Shingle Siding
Roof type
Shingle, Asphalt
Architectural style
Colonial
Buildings
2
Listing Agency:
Waterside Real Estate LLC
(508) 388-2003
Listed By:
Steven G Carlson
(781) 844-9880
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 29 at 3:06PM
MLS# 22605433
Copyright © 2026 Cape Cod & Islands Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,373-square-foot duplex property pairs a three-bedroom main house with a separate one-bedroom cottage. The main residence has 1.5 bathrooms, while the cottage has one bathroom. Renovations were completed in 2019. Interior features include a stone fireplace, sunroom, breakfast bar, walk-in closet, mud room, and pantry. Hardwood and tile flooring are present, and the home is heated with oil. The property was built in 1934 and has shingle siding.
The 0.99-acre parcel includes a fenced yard, two decks, and an outdoor entertaining area. An oversized garage is also on site. Water is supplied publicly, and the property uses a septic system. Parking is available in the driveway.
The 0.99-acre parcel includes a fenced yard, two decks, and an outdoor entertaining area. An oversized garage is also on site. Water is supplied publicly, and the property uses a septic system. Parking is available in the driveway.
Key Highlights
- Two separate residences: a 3‑bedroom, 1.5‑bath main house and a 1‑bedroom, 1‑bath cottage
- 2,373 square feet of property space on a 0.99‑acre lot
- Renovated 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
676
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A 2019 renovation updated the main residence and detached cottage, offering separate living spaces on a fenced 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: Two separate residences: a 3‑bedroom, 1.5‑bath main house and a 1‑bedroom, 1‑bath cottage; 2,373 square feet of property space on a 0.99‑acre lot; Renovated in 2019
