Two-Unit Duplex with Separate Living
New
For Sale
$789,000
765 Schoolhouse Road, Eastham, MA 02642
Two independent residences offer distinct layouts, shared basement utility access, and proximity to local schools and Cape Cod National Seashore.
Property Size3,136 SF
Price / SF$251.59
Days on Market6
Property Features for 765 Schoolhouse Road
General Information
Standard status
Active
Size
3,136 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1953
Listing Agency:
RE/MAX Real Estate Center
Listed By:
Bob Sheldon
(508) 394-6588
Source:
Capecodera
Added: Aug 15
Changed: Aug 20
Last Checked: Aug 20 at 1:58AM
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 RE/MAX Real Estate Center
Investment Insights
Based on property information with market context.
Built in 1953, this 3,136-square-foot duplex contains two separate 2-bedroom residences. The first-floor home includes a granite kitchen, wood flooring, dining area, living room with a natural gas fireplace, an ensuite bath, kitchen-adjacent mudroom, and three mini-splits. The second-floor unit has two bedrooms and a combined living, dining, and kitchen area.
Each residence has its own living space, supporting privacy between occupants. The full basement houses the utilities and provides additional storage area. Town water and natural gas service from the street serve the property.
The duplex is near Eastham Elementary School, Nauset Regional High School, and Cape Cod National Seashore.
Each residence has its own living space, supporting privacy between occupants. The full basement houses the utilities and provides additional storage area. Town water and natural gas service from the street serve the property.
The duplex is near Eastham Elementary School, Nauset Regional High School, and Cape Cod National Seashore.
Key Highlights
- Two 2‑bedroom units with fully separate living spaces
- 3,136 SF duplex built in 1953
- First‑floor unit includes granite kitchen, wood floors, ensuite bath, mudroom, and natural gas fireplace
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two independent residences offer distinct layouts, shared basement utility access, and proximity to local schools and Cape Cod National Seashore.
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 built in 1953; First‑floor unit includes granite kitchen, wood floors, ensuite bath, mudroom, and natural gas fireplace
