Three-Unit Residential Income
For Sale
$950,000
380 Central St, Foxboro, MA 02035
Three-unit configuration with in-unit laundry and a fenced yard, positioned for commuting to major routes and amenities.
Property Size4,244 SF
Days on Market50
Property Features for 380 Central St
General Information
Standard status
Active
Size
4,244 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,714
Building Details
Building Size
4,244 SF
Year Built
1870
Stories
4
Units
3
Listing Agency:
(508) 277-6941
Listed By:
Mary Noll
(508) 277-6941
Source:
Elliman
Added: Jun 24
Changed: Aug 8
Last Checked: Aug 11 at 9:38AM
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 Mary Noll
Investment Insights
Based on property information with market context.
This 3-family property offers two garden-style units and one townhouse-style unit. The 3-bedroom unit is currently vacant, and the two occupied units are each two-bedroom residences. All units include in-unit laundry. Flooring throughout the building features hardwood, tile, and laminate. Unit 2 has a newer kitchen and bathroom, along with an open first-floor plan and some additional updates. Utility arrangements vary by unit: Units 1 and 3 share heat and electric, currently paid by the landlord, while Unit 2 pays rent, heat, and electric. A fenced yard adds usable outdoor space, and the septic system has been inspected and passed.
Conveniently located minutes to Rte 95, Rte 495, and the Mansfield Commuter Rail Station, the property also sits near Mansfield Crossing shopping and the Foxboro Center. Residents can access a range of dining options locally, with a short drive to Patriot Place and Patriot Stadium, as well as Mass General Brigham.
For buyers or owner-occupants, this layout can support flexible living and income, with one unit ready to occupy immediately while others provide established rental setups. Group showings are scheduled; please see the agent for details.
Conveniently located minutes to Rte 95, Rte 495, and the Mansfield Commuter Rail Station, the property also sits near Mansfield Crossing shopping and the Foxboro Center. Residents can access a range of dining options locally, with a short drive to Patriot Place and Patriot Stadium, as well as Mass General Brigham.
For buyers or owner-occupants, this layout can support flexible living and income, with one unit ready to occupy immediately while others provide established rental setups. Group showings are scheduled; please see the agent for details.
Key Highlights
- 3‑family home built in 1870 with 2 garden‑style units and 1 townhouse‑style unit
- Each unit includes in‑unit laundry; Unit 2 has a newer kitchen and bathroom plus open 1st floor plan
- Hardwood floors, tile, and laminate flooring throughout the building
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
$76,025
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
8.00%
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%
$1,520,500
$1.5M
Cap Rate 7%
$1,086,071
$1.1M
Cap Rate 9%
$844,722
$844.7K
Market Conditions
NOI Build-Up for 4,244 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
$114.6K $27.00/SF
− Vacancy
−$6.0K −$1.41/SF
EGI
$108.6K $25.59/SF
− OpEx
−$32.6K −$7.68/SF
NOI
$76.0K $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%
$1,520,500
Cap Rate 7%
$1,086,071
Cap Rate 9%
$844,722
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$950.3K – $1.27M
NOI $76,025 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$1.00M
$876.8K – $1.17M
NOI $70,145 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,870 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 02035, MA
18,618
Population
7,414
Households
2.5
Avg Household Size
42
Median Age
58%
College-Educated
97%
High-School Grad
19.9 sq mi
ZIP Area
936
Density / Sq Mi
$108,559
Median Household Income
$62,457
Median Earnings
$1,763
Median Rent
$581,900
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?
Triplex - Three-unit configuration with in-unit laundry and a fenced yard, positioned for commuting to major routes and amenities.
Where is this triplex located?
The property is located at 380 Central St Foxboro, MA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3‑family home built in 1870 with 2 garden‑style units and 1 townhouse‑style unit; Each unit includes in‑unit laundry; Unit 2 has a newer kitchen and bathroom plus open 1st floor plan; Hardwood floors, tile, and laminate flooring throughout the building
