Well-Maintained Two-Family
For Sale
$629,900
23 Plain Street, Taunton, MA 02780
A de-leaded 2-family duplex offering two 3-bedroom, 1-bath units with eat-in kitchens and a large backyard.
Property Size2,059 SF
Price / SF$305.93
Days on Market190
Property Features for 23 Plain Street
General Information
Standard status
Active
Size
2,059 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1875
Listing Agency:
Elias Group Realty
Listed By:
Philip Elias
(781) 933-7200
Source:
Jmulkerinrealty
Added: Feb 11
Changed: Aug 20
Last Checked: Aug 20 at 8:30AM
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 Elias Group Realty
Investment Insights
Based on property information with market context.
Well-maintained, de-leaded two-family duplex featuring two separate units. Each unit includes three bedrooms, one full bathroom, and a spacious eat-in kitchen, creating a consistent layout across both apartments. The property is set on a nice lot with a large backyard.
The seller notes $60k annual rent income potential and highlights the home’s strong rental history. Additional details on configuration, systems, and any unit-specific updates are not provided in the listing information.
Located at 23 Plain Street in Taunton, MA 02780, this property is offered for sale as a versatile income-producing residence for either owner-occupants or investors, with the option to live in one unit while the second unit helps support the mortgage.
The seller notes $60k annual rent income potential and highlights the home’s strong rental history. Additional details on configuration, systems, and any unit-specific updates are not provided in the listing information.
Located at 23 Plain Street in Taunton, MA 02780, this property is offered for sale as a versatile income-producing residence for either owner-occupants or investors, with the option to live in one unit while the second unit helps support the mortgage.
Key Highlights
- De‑leaded 2‑family duplex built in 1875, offering 2 separate units
- Each unit features 3 bedrooms, 1 full bath, and a spacious eat‑in kitchen
- Strong rental history and $60k annual rent income potential
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
$36,796
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
5.84%
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%
$735,920
$735.9K
Cap Rate 7%
$525,657
$525.7K
Cap Rate 9%
$408,844
$408.8K
Market Conditions
NOI Build-Up for 2,059 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
$56.8K $27.60/SF
− Vacancy
−$4.3K −$2.07/SF
EGI
$52.6K $25.53/SF
− OpEx
−$15.8K −$7.66/SF
NOI
$36.8K $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%
$735,920
Cap Rate 7%
$525,657
Cap Rate 9%
$408,844
Alternative Uses
Best Use
Multifamily LT 5
$525.7K
$460.0K – $613.3K
NOI $36,796 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$488.5K
$427.5K – $569.9K
NOI $34,196 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,773 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 02780, MA
52,299
Population
22,454
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
85%
High-School Grad
33.1 sq mi
ZIP Area
1,580
Density / Sq Mi
$75,054
Median Household Income
$48,454
Median Earnings
$1,257
Median Rent
$377,800
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 - A de-leaded 2-family duplex offering two 3-bedroom, 1-bath units with eat-in kitchens and a large backyard.
Where is this duplex located?
The property is located at 23 Plain Street Taunton, MA.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: De‑leaded 2‑family duplex built in 1875, offering 2 separate units; Each unit features 3 bedrooms, 1 full bath, and a spacious eat‑in kitchen; Strong rental history and $60k annual rent income potential
