Attleboro Multifamily Investment
For Sale
$1,750,000
Pending
49 Dennis St, Attleboro, MA 02703
Immaculately maintained 9-unit building with value-add potential.
Property Size9,508 SF
Lot Size0.50 Acres
Days on Market266
Property Features for 49 Dennis St
General Information
Standard status
Pending
Size
9,508 SF
Lot size
0.50 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$11,223
Building Details
Building Size
9,508 SF
Year Built
1940
Stories
2
Units
9
Listing Agency:
Red Dome LLC
(617) 999-4993
Listed By:
J P Plunkett
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 15
Last Checked: Aug 20 at 8:40AM
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 Red Dome LLC
Investment Insights
Based on property information with market context.
Located in the City of Attleboro, this immaculately maintained multifamily property features 9 units, including 8 two-bedroom units and 1 three-bedroom unit. The property has been under the same family ownership and management for over 50 years, maintaining 100% occupancy with long-term tenants. The property offers a value-add opportunity with rents currently below market rates. Tenant parking is available at the rear of the building. The building includes separately metered utilities with baseboard electric heat and coin-operated laundry in the basement.
Key Highlights
- 100% occupancy with long‑term, loyal tenants
- Value‑add opportunity with under‑market rents
- Nine total units: eight 2‑bedroom and one 3‑bedroom
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
$157,911
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
9.02%
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%
$3,158,220
$3.2M
Cap Rate 7%
$2,255,871
$2.3M
Cap Rate 9%
$1,754,567
$1.8M
Market Conditions
NOI Build-Up for 9,508 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
$308.1K $32.40/SF
− Vacancy
−$20.9K −$2.20/SF
EGI
$287.1K $30.20/SF
− OpEx
−$129.2K −$13.59/SF
NOI
$157.9K $16.61/SF
Area
Bristol County, MA
Vacancy
6.80%
Lease Rate
$32.40 /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%
$3,158,220
Cap Rate 7%
$2,255,871
Cap Rate 9%
$1,754,567
Alternative Uses
Best Use
Apartment 5plus
$2.26M
$1.97M – $2.63M
NOI $157,911 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.79M
$5.07M – $6.76M
NOI $405,315 @ 7.0% cap · market cap 23.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Explore this area
Business Placement
Demographics for 02703, MA
46,389
Population
19,014
Households
2.4
Avg Household Size
42
Median Age
34%
College-Educated
90%
High-School Grad
26.8 sq mi
ZIP Area
1,731
Density / Sq Mi
$93,352
Median Household Income
$51,637
Median Earnings
$1,446
Median Rent
$409,400
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?
Apartment building - Immaculately maintained 9-unit building with value-add potential.
Where is this apartment building located?
The property is located at 49 Dennis St Attleboro, MA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 100% occupancy with long‑term, loyal tenants; Value‑add opportunity with under‑market rents; Nine total units: eight 2‑bedroom and one 3‑bedroom
