Renovation-Ready Residential Income
For Sale
$439,900
Pending
185 Spring St, Brockton, MA 02301
Renovation-required duplex with R3 zoning and a second staircase, offering flexibility to restore its prior two-family configuration.
Property Size2,428 SF
Days on Market58
Property Features for 185 Spring St
General Information
Standard status
Pending
Size
2,428 SF
Property subtype
2 Family - 2 Units Up/Down
Zoning
R3
Building Details
Year Built
1890
Listing Agency:
RE/MAX Synergy
(508) 857-5392
Listed By:
Luis Martins Realty Team
(508) 857-5392
Source:
Lockandkeyre
Added: Jun 16
Changed: Aug 12
Last Checked: Aug 12 at 6:17AM
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 RE/MAX Synergy
Investment Insights
Based on property information with market context.
This property is a residential income duplex that is currently in need of work, with the seller indicating it was previously operated as a 2-family. According to the information provided, one kitchen was removed years ago to add additional bedroom space. The home is located in an R3 zoning district and includes a second staircase, which may support the possibility of reconfiguring the layout during a renovation process.
The property is situated on Brockton’s West Side, with proximity to shopping, restaurants, schools, commuter rail, and major routes described in the remarks. Access to these daily-use amenities and transportation options may be a consideration for buyers evaluating renovation and potential end-use.
For buyers looking for a project, this presents an opportunity to complete the necessary interior and systems updates. The seller notes electrical updates along with paint, flooring, and fixture/cosmetic improvements as items to address. Depending on what the city determines, the most practical paths may include renovating for a single-family setup or exploring restoration toward a two-family configuration as part of the due diligence process.
The property is situated on Brockton’s West Side, with proximity to shopping, restaurants, schools, commuter rail, and major routes described in the remarks. Access to these daily-use amenities and transportation options may be a consideration for buyers evaluating renovation and potential end-use.
For buyers looking for a project, this presents an opportunity to complete the necessary interior and systems updates. The seller notes electrical updates along with paint, flooring, and fixture/cosmetic improvements as items to address. Depending on what the city determines, the most practical paths may include renovating for a single-family setup or exploring restoration toward a two-family configuration as part of the due diligence process.
Key Highlights
- Year built 1890 single‑family home with R3 zoning district and a layout that includes a second staircase
- Seller reports the property was previously used as a 2‑family; one kitchen was removed years ago to add bedroom space
- Renovation required: electrical updates, paint, flooring, fixtures, and cosmetic improvements needed
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
$37,067
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
8.43%
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%
$741,340
$741.3K
Cap Rate 7%
$529,529
$529.5K
Cap Rate 9%
$411,856
$411.9K
Market Conditions
NOI Build-Up for 2,428 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
$71.1K $29.28/SF
− Vacancy
−$3.7K −$1.52/SF
EGI
$67.4K $27.76/SF
− OpEx
−$30.3K −$12.49/SF
NOI
$37.1K $15.27/SF
Area
Brockton, MA
Vacancy
5.20%
Lease Rate
$29.28 /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%
$741,340
Cap Rate 7%
$529,529
Cap Rate 9%
$411,856
Alternative Uses
Best Use
Multifamily LT 5
$598.2K
$523.5K – $697.9K
NOI $41,876 @ 7.0% cap · market cap 9.52%
Second Best
Apartment 5plus
$529.5K
$463.3K – $617.8K
NOI $37,067 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,835 @ 7.0% cap · market cap 18.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,558
Businesses Nearby
Explore this area
Business Placement
Demographics for 02301, MA
69,418
Population
24,592
Households
2.8
Avg Household Size
37
Median Age
22%
College-Educated
81%
High-School Grad
12.4 sq mi
ZIP Area
5,598
Density / Sq Mi
$72,727
Median Household Income
$43,588
Median Earnings
$1,566
Median Rent
$414,200
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?
Duplex - Renovation-required duplex with R3 zoning and a second staircase, offering flexibility to restore its prior two-family configuration.
Where is this duplex located?
The property is located at 185 Spring St Brockton, MA.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Year built 1890 single‑family home with R3 zoning district and a layout that includes a second staircase; Seller reports the property was previously used as a 2‑family; one kitchen was removed years ago to add bedroom space; Renovation required: electrical updates, paint, flooring, fixtures, and cosmetic improvements needed
