Updated Two-Unit
New
For Sale
$789,000
765 Schoolhouse Road, Eastham, MA 02642
MULTI_FAMILY - Eastham, MA
Property Size3,136 SF
Lot Size0.69 Acres
Price / SF$251.59
Days on Market4
Property Features for 765 Schoolhouse Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Reside
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 3, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4
Parking
4
Parking features
Driveway
Patio and Porch features
Deck, Patio
Interior features
Recessed Lighting
Exterior features
Private Yard
Fireplace
1
Basement
Full
Appliances
Water Heater, Washer/Dryer Stacked, Gas Range, Dishwasher, Refrigerator
Elementary school district
Nauset
Middle school district
Nauset
High school district
Nauset
Directions
Rt 6 to Nauset Rd (at Seashore Visitor Center). Thake a left onto Schoolhouse Rd. Continue to #765 on left.
Subdivision
Eastham
Standard status
Active
APN
EAST M:9 B: L:220-0
Size
3,136 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6251
Utilities
Sewer type
Septic Tank
Heating system
Solar (Heating), Oil
Water source
Public
Amenities
granite kitchen
wood floors
natural gas fireplace
mini-splits
mudroom
full basement
Building Details
Year built
1953
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Hardwood
Building materials
Shingle Siding
Roof type
Asphalt
Additional Structures
Outbuilding
Listing Agency:
RE/MAX Real Estate Center
(508) 746-8402
Listed By:
Bob Sheldon · License #9077726
(508) 237-9545
Added: Aug 17
Last Checked: Aug 20 at 11:06AM
MLS# 22604017
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.
Investment Insights
Based on property information with market context.
Built in 1953, this 3,136-square-foot duplex contains two separate 2-bedroom residences on a 0.69-acre parcel. The first-floor home includes a granite kitchen, hardwood floors, dining area, living room with a natural gas fireplace, mudroom, and a bedroom with an ensuite full bath. Three mini-splits provide cooling, while the unit also includes a gas range, dishwasher, refrigerator, and stacked washer/dryer.
The second-floor residence pairs two bedrooms with an open living, dining, and kitchen arrangement. The full basement houses the utilities and provides additional storage space. The property has public water, a septic tank, oil and solar heating systems, a driveway, deck, patio, private yard, asphalt roof, and shingle siding. Eastham Elementary School, Nauset Regional High School, and Cape Cod National Seashore are nearby.
The second-floor residence pairs two bedrooms with an open living, dining, and kitchen arrangement. The full basement houses the utilities and provides additional storage space. The property has public water, a septic tank, oil and solar heating systems, a driveway, deck, patio, private yard, asphalt roof, and shingle siding. Eastham Elementary School, Nauset Regional High School, and Cape Cod National Seashore are nearby.
Key Highlights
- Two 2‑bedroom units with fully separate living spaces
- 3,136 SF duplex on 0.69 acres
- First‑floor unit includes granite kitchen, hardwood floors, mudroom, and ensuite full bath
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
$69,906
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
8.86%
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%
$1,398,120
$1.4M
Cap Rate 7%
$998,657
$998.7K
Cap Rate 9%
$776,733
$776.7K
Market Conditions
NOI Build-Up for 3,136 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
$103.5K $33.00/SF
− Vacancy
−$3.6K −$1.16/SF
EGI
$99.9K $31.85/SF
− OpEx
−$30.0K −$9.55/SF
NOI
$69.9K $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 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%
$1,398,120
Cap Rate 7%
$998,657
Cap Rate 9%
$776,733
Alternative Uses
Best Use
Multifamily LT 5
$998.7K
$873.8K – $1.17M
NOI $69,906 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$897.7K
$785.5K – $1.05M
NOI $62,840 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,456 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Explore this area
Business Placement
Demographics for 02642, MA
5,752
Population
6,349
Households
0.9
Avg Household Size
61
Median Age
52%
College-Educated
96%
High-School Grad
14.0 sq mi
ZIP Area
411
Density / Sq Mi
$72,683
Median Household Income
$42,638
Median Earnings
$1,692
Median Rent
$668,400
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 - Two independent residences offer distinct floor plans, private living areas, and convenient shared utility access.
Where is this duplex located?
The property is located at 765 Schoolhouse Road Eastham, MA.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Two 2‑bedroom units with fully separate living spaces; 3,136 SF duplex on 0.69 acres; First‑floor unit includes granite kitchen, hardwood floors, mudroom, and ensuite full bath
