Spacious Avon Multifamily
For Sale
$870,000
192 E Spring St, Avon, MA 02322
Spacious multifamily home in Avon with income potential.
Property Size2,013 SF
Price / SF$432.19
Days on Market112
Property Features for 192 E Spring St
General Information
Standard status
Active
Size
2,013 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Zoning
255
Taxes and HOA fees
Annual Taxes
$7,173
Building Details
Building Size
2,013 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
eRealty Advisors, Inc.
(781) 308-4109
Listed By:
Jaelle Trimble · License #9538118
(781) 308-4109
Source:
Alliancepartnersre
Added: Apr 23
Changed: Aug 8
Last Checked: Aug 8 at 6:57AM
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 eRealty Advisors, Inc.
Investment Insights
Based on property information with market context.
This multifamily home is located in Avon and offers income potential. Ideal for investors or owner-occupants, the property features two spacious units. The first-floor unit is vacant and includes a large living room, a kitchen and dining combo area, three bedrooms, one full bath, and a den/office space. The second-floor unit also features a den/office space, a kitchen-dining combo, a living room, two bedrooms, and a full bath. A long driveway provides ample parking. Additional space is available in the detached garage. The first-floor heating system is approximately 10 years old, while the second-floor system is about 6 years old. The electrical system was updated approximately 6 months ago, and the septic system is regularly maintained. The property size is 2013 square feet.
Key Highlights
- Great income potential as a multi‑family home, ideal for investors or owner‑occupied
- Conveniently located in Avon with an easy commute to Boston
- Updated electrical system (6 months ago) and relatively new heating systems
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
$36,060
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
4.14%
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%
$721,200
$721.2K
Cap Rate 7%
$515,143
$515.1K
Cap Rate 9%
$400,667
$400.7K
Market Conditions
NOI Build-Up for 2,013 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
$54.4K $27.00/SF
− Vacancy
−$2.8K −$1.41/SF
EGI
$51.5K $25.59/SF
− OpEx
−$15.5K −$7.68/SF
NOI
$36.1K $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%
$721,200
Cap Rate 7%
$515,143
Cap Rate 9%
$400,667
Alternative Uses
Best Use
Multifamily LT 5
$515.1K
$450.8K – $601.0K
NOI $36,060 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$475.3K
$415.9K – $554.5K
NOI $33,271 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,418 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 02322, MA
4,777
Population
1,716
Households
2.8
Avg Household Size
43
Median Age
31%
College-Educated
86%
High-School Grad
4.3 sq mi
ZIP Area
1,111
Density / Sq Mi
$129,487
Median Household Income
$51,618
Median Earnings
$1,648
Median Rent
$482,800
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 - Spacious multifamily home in Avon with income potential.
Where is this duplex located?
The property is located at 192 E Spring St Avon, MA.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: Great income potential as a multi‑family home, ideal for investors or owner‑occupied; Conveniently located in Avon with an easy commute to Boston; Updated electrical system (6 months ago) and relatively new heating systems
