Victorian Two-Family
For Sale
$725,000
Pending
3 Harrison Avenue, Braintree, MA 02184
Residential Income, Braintree, MA
Property Size1,667 SF
Lot Size0.24 Acres
Days on Market135
Property Features for 3 Harrison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2
Parking
6
Directions
Corner of Cleveland Avenue, close to the T and highways for an easy commute!
Standard status
Pending
APN
M:2015 B:0 L:38A,17896
Size
1,667 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6234
Amenities
wrap-around covered Farmer's Porch
deck
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty
Listed By:
Steve Zeboski
(781) 843-3200
Added: May 4
Changed: Sep 12
Last Checked: Sep 15 at 4:06PM
MLS# 73512317
Copyright © 2026 MLS Property Information Network 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 1920, this Victorian-style two-family property contains 1,667 square feet on a 0.235-acre corner lot. The first-floor residence includes hardwood flooring in many rooms, a den or office with a second egress, pantry, and laundry hookups. The upper residence features an entry foyer, two bedrooms, living room, kitchen, and full bath.
Exterior features include a wrap-around covered porch, deck, yard, aluminum siding across most of the house, and vinyl replacement windows. The basement houses the utilities, includes an additional laundry hookup, and provides open storage through the bulkhead. Off-street parking is available. The property is zoned B and is offered in as-is condition, with proximity to the T, commuter rail, and highways.
Exterior features include a wrap-around covered porch, deck, yard, aluminum siding across most of the house, and vinyl replacement windows. The basement houses the utilities, includes an additional laundry hookup, and provides open storage through the bulkhead. Off-street parking is available. The property is zoned B and is offered in as-is condition, with proximity to the T, commuter rail, and highways.
Key Highlights
- Two‑family property with 1,667 square feet on a 0.235‑acre corner lot
- Victorian‑style construction dating to 1920
- Wrap‑around covered porch, deck, yard, and off‑street parking
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
$29,862
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
4.12%
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%
$597,240
$597.2K
Cap Rate 7%
$426,600
$426.6K
Cap Rate 9%
$331,800
$331.8K
Market Conditions
NOI Build-Up for 1,667 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
$45.0K $27.00/SF
− Vacancy
−$2.3K −$1.41/SF
EGI
$42.7K $25.59/SF
− OpEx
−$12.8K −$7.68/SF
NOI
$29.9K $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%
$597,240
Cap Rate 7%
$426,600
Cap Rate 9%
$331,800
Alternative Uses
Best Use
Multifamily LT 5
$426.6K
$373.3K – $497.7K
NOI $29,862 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$393.6K
$344.4K – $459.2K
NOI $27,552 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$986.9K
$863.5K – $1.15M
NOI $69,080 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
850
Businesses Nearby
Explore this area
Business Placement
Demographics for 02184, MA
39,143
Population
15,032
Households
2.6
Avg Household Size
42
Median Age
47%
College-Educated
93%
High-School Grad
13.8 sq mi
ZIP Area
2,836
Density / Sq Mi
$125,305
Median Household Income
$65,542
Median Earnings
$1,925
Median Rent
$623,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Corner-lot property with off-street parking, a covered porch, deck, and access to commuter rail and highways.
Where is this duplex located?
The property is located at 3 Harrison Avenue Braintree, MA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two‑family property with 1,667 square feet on a 0.235‑acre corner lot; Victorian‑style construction dating to 1920; Wrap‑around covered porch, deck, yard, and off‑street parking
