Multifamily Property with Rear
For Sale
$1,100,000
53 School Street, Hyannis, MA 02601
Four-unit configuration with a rear cottage, private yard, off-street parking, and fully leased tenancy-at-will occupancy.
Property Size2,684 SF
Price / SF$409.84
Days on Market8
Property Features for 53 School Street
General Information
Standard status
Active
Size
2,684 SF
Property subtype
Multi-family
Building Details
Year Built
1840
Listing Agency:
Kinlin Grover Compass
(508) 364-5845
Listed By:
Amy L Harbeck · License #9554777
Source:
Newseaburyre
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 5:03AM
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 Kinlin Grover Compass
Investment Insights
Based on property information with market context.
This 1840 multifamily property contains three apartments in the front building and a rear cottage, with 2,684 square feet and five total bedrooms across 0.57 acres. Interior details include wood flooring, crown molding, built-ins, washer-dryer hookups, spacious living areas, a three-season sunroom, and walk-up attic storage in one apartment. Some windows have been replaced, and one bathroom includes a tiled walk-in shower. Building systems include a new gas boiler and gas water heater.
The property also provides a private backyard and substantial off-street parking. All units are fully leased under tenancy-at-will arrangements. The property is one block from CC hospital and 2/10ths of a mile from Hyannis Harbor and the Transportation Center.
The property also provides a private backyard and substantial off-street parking. All units are fully leased under tenancy-at-will arrangements. The property is one block from CC hospital and 2/10ths of a mile from Hyannis Harbor and the Transportation Center.
Key Highlights
- Three front apartments plus a rear cottage
- 2,684 SF on 0.57 acres with 5 BRs total
- Built in 1840
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
$59,830
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
5.44%
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%
$1,196,600
$1.2M
Cap Rate 7%
$854,714
$854.7K
Cap Rate 9%
$664,778
$664.8K
Market Conditions
NOI Build-Up for 2,684 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
$88.6K $33.00/SF
− Vacancy
−$3.1K −$1.16/SF
EGI
$85.5K $31.85/SF
− OpEx
−$25.6K −$9.55/SF
NOI
$59.8K $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 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%
$1,196,600
Cap Rate 7%
$854,714
Cap Rate 9%
$664,778
Alternative Uses
Best Use
Multifamily LT 5
$854.7K
$747.9K – $997.2K
NOI $59,830 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$768.3K
$672.3K – $896.4K
NOI $53,783 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$1.09M
$957.0K – $1.28M
NOI $76,562 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,071
Businesses Nearby
Explore this area
Business Placement
Demographics for 02601, MA
16,487
Population
9,077
Households
1.8
Avg Household Size
43
Median Age
28%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
1,874
Density / Sq Mi
$62,989
Median Household Income
$36,183
Median Earnings
$1,629
Median Rent
$408,800
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?
Multifamily property - Four-unit configuration with a rear cottage, private yard, off-street parking, and fully leased tenancy-at-will occupancy.
Where is this multifamily property located?
The property is located at 53 School Street Hyannis, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three front apartments plus a rear cottage; 2,684 SF on 0.57 acres with 5 BRs total; Built in 1840
