Building Details

Building Size 3,418 SF

Year Built 1880

Buildings 1

Listing Agency: Upper Cape Realty Corp.

Listed By: Nancy S. Angus · License #448004705 Show Phone

Source: Paulgrover

Added: Oct 13 Changed: Oct 15 Last Checked: Oct 15 at 12:50AM

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Investment Insights

Based on property information with market context.

This 3,418-square-foot duplex contains two apartments, each with three bedrooms, two bathrooms, a living room, laundry, and an eat-in kitchen. Kitchen finishes include granite counters and stainless appliances. The property has a 2.5-plus-acre lot and was built in 1880. Updates include the heating systems, electrical and plumbing systems, kitchens, bathrooms, windows, roof, and flooring.

Each apartment has its own driveway and separate access to the home. The property sits at the edge of the village, with schools, shopping, restaurants, and entertainment nearby; local beaches are a short drive away.

Key Highlights

• Two apartments, each with 3 bedrooms and 2 baths
• 3,418 SF duplex on a 2.5‑plus‑acre lot
• Separate driveway and home access for each apartment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$57,765

Cap Rate

8.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,155,300 $1.2M

Cap Rate 7%

$825,214 $825.2K

Cap Rate 9%

$641,833 $641.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,418 SF

Gross rent

$87.2K $25.50/SF

− Vacancy

−$4.6K −$1.36/SF

EGI

$82.5K $24.14/SF

− OpEx

−$24.8K −$7.24/SF

NOI

$57.8K $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 Rate 5%

$1,155,300

Cap Rate 7%

$825,214

Cap Rate 9%

$641,833

Alternative Uses

Best Use

Multifamily LT 5

$825.2K

$722.1K – $962.8K (±1% cap)

NOI $57,765 @ 7.0% cap · market cap 8.63%

Second Best

Apartment 5plus

$760.6K

$665.5K – $887.3K (±1% cap)

NOI $53,239 @ 7.0% cap · market cap 7.96%

Theoretical Best

Office A

$2.02M

$1.77M – $2.36M (±1% cap)

NOI $141,641 @ 7.0% cap · market cap 21.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Electrical Service Grocery & Convenience Store Storage Facility Locksmith (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

381

Businesses Nearby

Explore this area Business Placement

Demographics for 02571, MA

10,858

Population

6,205

Households

1.7

Avg Household Size

51

Median Age

32%

College-Educated

90%

High-School Grad

18.7 sq mi

ZIP Area

581

Density / Sq Mi

$87,302

Median Household Income

$56,282

Median Earnings

$1,427

Median Rent

$422,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two three-bedroom apartments each include private laundry, a dedicated driveway, and independent home access.

Where is this duplex located?

The property is located at 532 Main Street Wareham, MA.

What is the asking price?

The asking price for this property is $669,000.

What are key features of this property?

This property features: Two apartments, each with 3 bedrooms and 2 baths; 3,418 SF duplex on a 2.5‑plus‑acre lot; Separate driveway and home access for each apartment