Two-Unit Duplex with Separate
New
For Sale
$324,500
83 W Myrtle St, Orange, MA 01364
A vacant two-bedroom apartment and a tenant-occupied one-bedroom unit provide distinct occupancy options.
Property Size2,232 SF
Lot Size0.28 Acres
Price / SF$145.39
Days on Market6
Property Features for 83 W Myrtle St
General Information
Standard status
Active
Size
2,232 SF
Total Parking Spaces
6
Lot size
0.28 Acres
Property subtype
Residential Income
Zoning
A
Net Operating Income
$9,449
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,014
Amenities
washer/dryer hookups
storage sheds
Building Details
Building Size
2,232 SF
Year Built
1900
Stories
2
Listing Agency:
Four Columns Realty, LLC
Listed By:
Liza M Melo
(978) 544-5100
Source:
Insightrealtygroup
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 3:30AM
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 Four Columns Realty, LLC
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,232 square feet. The first-floor apartment has two bedrooms, one full bath, washer and dryer hookups, and is vacant. Upstairs, a one-bedroom apartment with one full bath is occupied by a tenant at will. Separate utilities serve the units, and the property has a new boiler.
The building sits on a level 0.28-acre lot with off-street parking and two storage sheds. Built in 1900, it offers a combination of two distinct apartment layouts and on-site storage.
The building sits on a level 0.28-acre lot with off-street parking and two storage sheds. Built in 1900, it offers a combination of two distinct apartment layouts and on-site storage.
Key Highlights
- Two‑unit duplex with 2,232 square feet
- First‑floor unit: two bedrooms, one full bath, washer and dryer hookups; vacant
- Second‑floor unit: one bedroom and one full bath; occupied by a tenant at will
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
$29,636
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
9.13%
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%
$592,720
$592.7K
Cap Rate 7%
$423,371
$423.4K
Cap Rate 9%
$329,289
$329.3K
Market Conditions
NOI Build-Up for 2,232 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
$56.2K $25.20/SF
− Vacancy
−$2.4K −$1.06/SF
EGI
$53.9K $24.14/SF
− OpEx
−$24.2K −$10.86/SF
NOI
$29.6K $13.28/SF
Area
Franklin County, MA
Vacancy
4.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$592,720
Cap Rate 7%
$423,371
Cap Rate 9%
$329,289
Alternative Uses
Best Use
Multifamily LT 5
$468.3K
$409.7K – $546.3K
NOI $32,778 @ 7.0% cap · market cap 10.10%
Second Best
Apartment 5plus
$423.4K
$370.5K – $493.9K
NOI $29,636 @ 7.0% cap · market cap 9.13%
Theoretical Best
Healthcare Medical
$925.5K
$809.9K – $1.08M
NOI $64,788 @ 7.0% cap · market cap 19.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 01364, MA
7,665
Population
3,435
Households
2.2
Avg Household Size
45
Median Age
16%
College-Educated
90%
High-School Grad
36.0 sq mi
ZIP Area
213
Density / Sq Mi
$54,061
Median Household Income
$37,525
Median Earnings
$745
Median Rent
$226,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - A vacant two-bedroom apartment and a tenant-occupied one-bedroom unit provide distinct occupancy options.
Where is this duplex located?
The property is located at 83 W Myrtle St Orange, MA.
What is the asking price?
The asking price for this property is $324,500.
What are key features of this property?
This property features: Two‑unit duplex with 2,232 square feet; First‑floor unit: two bedrooms, one full bath, washer and dryer hookups; vacant; Second‑floor unit: one bedroom and one full bath; occupied by a tenant at will
