Updated Triplex with Solar
For Sale
$834,750
13 Forest Avenue, Plymouth, MA 02360
Three residential units offer in-building laundry, off-street parking, and updated kitchen finishes.
Property Size2,581 SF
Price / SF$323.42
Days on Market186
Property Features for 13 Forest Avenue
General Information
Standard status
Active
Size
2,581 SF
Total Parking Spaces
4
Property subtype
Multi-family / 3 Family - 3 Units Up/Down
Zoning
TC
Net Operating Income
$78,740
Taxes and HOA fees
Annual Taxes
$7,190
Amenities
City/Town Sewer, Public, for Gas Range
No
Wood, Vinyl
3.0
Screens
Partial, Interior Access
3
3.00
Frame
Shingle
Other
Rain Gutters, Screens, Porch, Porch - Enclosed
Porch, Enclosed
Building Details
Year Built
1917
Listing Agency:
The Sobran Group
(617) 548-3680
Listed By:
Evan Sobran · License #9506207
(617) 548-3680
Source:
Compass
Added: Feb 25
Changed: Aug 30
Last Checked: Aug 30 at 5:26AM
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 The Sobran Group
Investment Insights
Based on property information with market context.
This 1917 triplex contains 2,581 square feet across three residential units. Recent improvements include newer appliances, refreshed flooring, and granite kitchen surfaces, with additional flooring planned for the third-floor kitchen and baths. Units are described as spacious, with good room proportions and abundant natural light. The property also includes in-building laundry, off-street parking, and solar panels that are owned rather than leased and may transfer with the sale.
The property is located in North Plymouth near the train station, shopping, restaurants, and Cordage Park, all identified as walkable destinations. A solid rental history and projected cap rate above 9% provide additional operating context for the triplex.
The property is located in North Plymouth near the train station, shopping, restaurants, and Cordage Park, all identified as walkable destinations. A solid rental history and projected cap rate above 9% provide additional operating context for the triplex.
Key Highlights
- 2,581‑square‑foot triplex with 3 residential units
- Projected cap rate above 9% with solid rental history
- Owned solar panels; not leased and transferable
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
$43,620
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
5.23%
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%
$872,400
$872.4K
Cap Rate 7%
$623,143
$623.1K
Cap Rate 9%
$484,667
$484.7K
Market Conditions
NOI Build-Up for 2,581 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
$65.8K $25.50/SF
− Vacancy
−$3.5K −$1.36/SF
EGI
$62.3K $24.14/SF
− OpEx
−$18.7K −$7.24/SF
NOI
$43.6K $16.90/SF
Area
Plymouth County, MA
Vacancy
5.32%
Lease Rate
$25.50 /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%
$872,400
Cap Rate 7%
$623,143
Cap Rate 9%
$484,667
Alternative Uses
Best Use
Multifamily LT 5
$623.1K
$545.3K – $727.0K
NOI $43,620 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$574.3K
$502.5K – $670.0K
NOI $40,202 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,956 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 02360, MA
61,134
Population
28,598
Households
2.1
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
96.4 sq mi
ZIP Area
634
Density / Sq Mi
$111,975
Median Household Income
$55,595
Median Earnings
$1,831
Median Rent
$494,700
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 residential units offer in-building laundry, off-street parking, and updated kitchen finishes.
Where is this triplex located?
The property is located at 13 Forest Avenue Plymouth, MA.
What is the asking price?
The asking price for this property is $834,750.
What are key features of this property?
This property features: 2,581‑square‑foot triplex with 3 residential units; Projected cap rate above 9% with solid rental history; Owned solar panels; not leased and transferable
