Turnkey 3-Unit Residential
For Sale
$749,000
2 Hope St, Attleboro, MA 02703
Well-maintained three-family property with separate utilities and ample parking, including a currently vacant third-floor unit.
Property Size3,827 SF
Price / SF$195.71
Days on Market87
Property Features for 2 Hope St
General Information
Standard status
Active
Size
3,827 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
The Hennessy Group
Listed By:
Rose-Amelie Hennessy
(401) 441-9900
Source:
Seaveyrealtyteam
Added: Jun 20
Changed: Sep 8
Last Checked: Sep 13 at 12:51PM
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 Hennessy Group
Investment Insights
Based on property information with market context.
Turnkey three-family residential income property featuring bright, spacious layouts and separate utilities. The third-floor unit is currently vacant and move-in ready, creating flexibility for either an owner-occupant or an investor seeking immediate rental income.
The property is located at 2 Hope St in Attleboro, with easy access to the commuter rail, local shopping, dining, and major highway routes. Ample parking is available on site.
As a practical configuration, this is a three-unit structure designed for independent occupancy with separate utility setups, and it offers an available unit for immediate use.
The property is located at 2 Hope St in Attleboro, with easy access to the commuter rail, local shopping, dining, and major highway routes. Ample parking is available on site.
As a practical configuration, this is a three-unit structure designed for independent occupancy with separate utility setups, and it offers an available unit for immediate use.
Key Highlights
- Well‑maintained 3‑family property built in 1910 with a currently vacant third‑floor unit
- Third‑floor unit is move‑in ready
- Separate utilities for the units
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
$68,392
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
9.13%
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%
$1,367,840
$1.4M
Cap Rate 7%
$977,029
$977.0K
Cap Rate 9%
$759,911
$759.9K
Market Conditions
NOI Build-Up for 3,827 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
$105.6K $27.60/SF
− Vacancy
−$7.9K −$2.07/SF
EGI
$97.7K $25.53/SF
− OpEx
−$29.3K −$7.66/SF
NOI
$68.4K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /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%
$1,367,840
Cap Rate 7%
$977,029
Cap Rate 9%
$759,911
Alternative Uses
Best Use
Multifamily LT 5
$977.0K
$854.9K – $1.14M
NOI $68,392 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$908.0K
$794.5K – $1.06M
NOI $63,560 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,140 @ 7.0% cap · market cap 21.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,316
Businesses Nearby
Explore this area
Business Placement
Demographics for 02703, MA
46,389
Population
19,014
Households
2.4
Avg Household Size
42
Median Age
34%
College-Educated
90%
High-School Grad
26.8 sq mi
ZIP Area
1,731
Density / Sq Mi
$93,352
Median Household Income
$51,637
Median Earnings
$1,446
Median Rent
$409,400
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 - Well-maintained three-family property with separate utilities and ample parking, including a currently vacant third-floor unit.
Where is this triplex located?
The property is located at 2 Hope St Attleboro, MA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Well‑maintained 3‑family property built in 1910 with a currently vacant third‑floor unit; Third‑floor unit is move‑in ready; Separate utilities for the units
