Three-Unit Property with
New
For Sale
$1,249,900
5 Highland Ave, Plainville, MA 02762
Two newer residences complement a remodeled original home, with private outdoor areas, dedicated parking, and laundry hookups for each unit.
Property Size3,313 SF
Price / SF$377.27
Days on Market4
Property Features for 5 Highland Ave
General Information
Standard status
Active
Size
3,313 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/2.5BA, 1 x 2BR/1.5BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,337
Building Details
Building Size
3,313 SF
Year Built
1950
Buildings
2
Stories
4
Units
3
Listing Agency:
(508) 954-3851
Listed By:
Missy Wagner
(508) 954-3851
Source:
Elliman
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 10 at 5:11AM
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 Missy Wagner
Investment Insights
Based on property information with market context.
This three-unit property combines an original home with two townhouse-style residences. The 3,313-square-foot configuration includes Unit A, a remodeled three-bedroom home with 1.5 bathrooms, a pantry, kitchen, and open family and dining areas. Unit B provides 1,552 square feet with two bedrooms and 2.5 bathrooms. Unit C has two bedrooms and 1.5 bathrooms. Units B and C were built two years ago.
Each residence includes dedicated parking, private outdoor space, and in-unit washer and dryer hookups. Unit A will be vacant at delivery, while the property has rental history across all three units. The property is located at 5 Highland Ave in Plainville, Massachusetts, near downtown restaurants, shops, community amenities, and the Unlikely Story bookstore.
Each residence includes dedicated parking, private outdoor space, and in-unit washer and dryer hookups. Unit A will be vacant at delivery, while the property has rental history across all three units. The property is located at 5 Highland Ave in Plainville, Massachusetts, near downtown restaurants, shops, community amenities, and the Unlikely Story bookstore.
Key Highlights
- Three‑unit property totaling 3,313 square feet
- Unit A delivered vacant; remodeled 3‑bedroom, 1.5‑bath home
- Unit B offers 1,552 square feet, 2 bedrooms, and 2.5 bathrooms
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
$59,347
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
4.75%
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%
$1,186,940
$1.2M
Cap Rate 7%
$847,814
$847.8K
Cap Rate 9%
$659,411
$659.4K
Market Conditions
NOI Build-Up for 3,313 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
$89.5K $27.00/SF
− Vacancy
−$4.7K −$1.41/SF
EGI
$84.8K $25.59/SF
− OpEx
−$25.4K −$7.68/SF
NOI
$59.3K $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%
$1,186,940
Cap Rate 7%
$847,814
Cap Rate 9%
$659,411
Alternative Uses
Best Use
Multifamily LT 5
$847.8K
$741.8K – $989.1K
NOI $59,347 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$782.2K
$684.5K – $912.6K
NOI $54,757 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,290 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Explore this area
Business Placement
Demographics for 02762, MA
9,945
Population
4,416
Households
2.3
Avg Household Size
43
Median Age
43%
College-Educated
95%
High-School Grad
11.0 sq mi
ZIP Area
904
Density / Sq Mi
$95,625
Median Household Income
$56,133
Median Earnings
$1,901
Median Rent
$461,200
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 - Two newer residences complement a remodeled original home, with private outdoor areas, dedicated parking, and laundry hookups for each unit.
Where is this triplex located?
The property is located at 5 Highland Ave Plainville, MA.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: Three‑unit property totaling 3,313 square feet; Unit A delivered vacant; remodeled 3‑bedroom, 1.5‑bath home; Unit B offers 1,552 square feet, 2 bedrooms, and 2.5 bathrooms
