Three-Unit Multifamily
For Sale
$749,000
2 Hope Street, Attleboro, MA 02703
Well-maintained income property with a vacant third-floor unit, separate utilities, and on-site parking.
Property Size3,848 SF
Price / SF$194.65
Days on Market77
Property Features for 2 Hope Street
General Information
Standard status
Active
Size
3,848 SF
Property subtype
Multi-family
Lease Term
[]
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1910
Buildings
1
Listing Agency:
The Hennessy Group
Listed By:
Rose-Amelie Hennessy
Source:
Stonewallre
Added: Jun 16
Changed: Aug 29
Last Checked: Aug 30 at 5:33PM
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.
This three-unit multifamily property at 2 Hope Street in Attleboro, MA offers 3,848 square feet across a building constructed in 1910. The property includes bright, spacious layouts, separate utilities, and ample parking. The third-floor unit is vacant and move-in ready, while the two lower units are occupied, providing flexibility for an owner-occupant or an investor establishing new rental terms.
The property is positioned near commuter rail service, local shopping, dining, and major highway routes. Its three-family configuration, existing rental history, and combination of occupied and available space provide a practical setup for residential income use.
The property is positioned near commuter rail service, local shopping, dining, and major highway routes. Its three-family configuration, existing rental history, and combination of occupied and available space provide a practical setup for residential income use.
Key Highlights
- Three‑unit multifamily property with 3,848 square feet
- Built in 1910
- Vacant third‑floor unit is move‑in ready
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
$68,768
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
9.18%
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%
$1,375,360
$1.4M
Cap Rate 7%
$982,400
$982.4K
Cap Rate 9%
$764,089
$764.1K
Market Conditions
NOI Build-Up for 3,848 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
$106.2K $27.60/SF
− Vacancy
−$8.0K −$2.07/SF
EGI
$98.2K $25.53/SF
− OpEx
−$29.5K −$7.66/SF
NOI
$68.8K $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%
$1,375,360
Cap Rate 7%
$982,400
Cap Rate 9%
$764,089
Alternative Uses
Best Use
Multifamily LT 5
$982.4K
$859.6K – $1.15M
NOI $68,768 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$913.0K
$798.9K – $1.07M
NOI $63,909 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $164,036 @ 7.0% cap · market cap 21.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
289
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained income property with a vacant third-floor unit, separate utilities, and on-site parking.
Where is this triplex located?
The property is located at 2 Hope Street 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: Three‑unit multifamily property with 3,848 square feet; Built in 1910; Vacant third‑floor unit is move‑in ready
