Two-Family Home with Detached
For Sale
$780,000
660 S Franklin, Holbrook, MA 02343
Updated two-unit residence with separate living spaces, outdoor areas, laundry hookups, and off-street parking improvements.
Property Size2,515 SF
Days on Market139
Property Features for 660 S Franklin
General Information
Standard status
Active
Size
2,515 SF
Total Parking Spaces
7
Property subtype
Multi Family Home
Zoning
R3
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,560
Amenities
steam shower
three-season porch
in-unit laundry hookups
rear deck
Building Details
Building Size
2,515 SF
Year Built
1870
Buildings
1
Stories
2
Units
2
Listing Agency:
Douglas Paul Real Estate
(617) 415-6287
Listed By:
Norma Picard · License #9558039
(617) 415-6287
Source:
Aucoinryanrealty
Added: Apr 15
Changed: Aug 29
Last Checked: Aug 30 at 5:43PM
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 Douglas Paul Real Estate
Investment Insights
Based on property information with market context.
This two-family residence contains 2,515 square feet and was built in 1870. The first-floor apartment includes a renovated kitchen, living and dining rooms, two bedrooms, an updated full bathroom with a steam shower, and a three-season porch. The upper apartment has an open living and dining arrangement, two bedrooms, an updated full bathroom, laundry hookups, and access to a rear deck. That unit is currently vacant.
The property occupies an oversized corner lot in Holbrook, MA, with substantial yard area, a detached garage, and two driveways. The combination of a vacant upper unit and established two-unit layout supports both owner-occupant and investment-oriented use, as stated in the property information.
The property occupies an oversized corner lot in Holbrook, MA, with substantial yard area, a detached garage, and two driveways. The combination of a vacant upper unit and established two-unit layout supports both owner-occupant and investment-oriented use, as stated in the property information.
Key Highlights
- 2,515 SF two‑family residence built in 1870
- Oversized corner lot with ample yard space
- First‑floor unit includes updated kitchen and three‑season porch
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
$45,052
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
5.78%
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%
$901,040
$901.0K
Cap Rate 7%
$643,600
$643.6K
Cap Rate 9%
$500,578
$500.6K
Market Conditions
NOI Build-Up for 2,515 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
$67.9K $27.00/SF
− Vacancy
−$3.5K −$1.41/SF
EGI
$64.4K $25.59/SF
− OpEx
−$19.3K −$7.68/SF
NOI
$45.1K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$901,040
Cap Rate 7%
$643,600
Cap Rate 9%
$500,578
Alternative Uses
Best Use
Multifamily LT 5
$643.6K
$563.2K – $750.9K
NOI $45,052 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$593.8K
$519.6K – $692.8K
NOI $41,568 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,221 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Explore this area
Business Placement
Demographics for 02343, MA
11,364
Population
4,268
Households
2.7
Avg Household Size
42
Median Age
37%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
1,623
Density / Sq Mi
$107,198
Median Household Income
$56,269
Median Earnings
$1,522
Median Rent
$435,300
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 - Updated two-unit residence with separate living spaces, outdoor areas, laundry hookups, and off-street parking improvements.
Where is this duplex located?
The property is located at 660 S Franklin Holbrook, MA.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 2,515 SF two‑family residence built in 1870; Oversized corner lot with ample yard space; First‑floor unit includes updated kitchen and three‑season porch
