3-Unit Triplex with Separate
For Sale
$649,000
23 Vernon Street, Taunton, MA 02780
Residential Income, Taunton, MA
Property Size2,569 SF
Lot Size0.24 Acres
Price / SF$252.63
Days on Market47
Property Features for 23 Vernon Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
URBRES
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 3
Parking
4
Directions
ROUTE 44 TO WINTHROP, LEFT ONTO VERNON ST. PROP IS ON THE CORNER.
Subdivision
East Taunton
Standard status
Active
APN
2979214
Size
2,569 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6011
Building Details
Year built
1890
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams Realty
(781) 843-3200
Listed By:
Steve Zeboski
(781) 843-3200
Added: Jul 10
Changed: Aug 23
Last Checked: Aug 25 at 6:06PM
MLS# 73548164
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,569-square-foot triplex was built in 1890 and contains three residential units on a 0.24-acre corner lot. Each unit has separate utility service, and the current rents are below market. The property is zoned URBRES and is being offered strictly as-is, with no repairs or improvements from the seller.
The property is located at 23 Vernon Street in Taunton, Massachusetts, near shopping, schools, restaurants, and major commuter routes. Its three-family configuration supports both residential income use and owner-occupant consideration, subject to applicable requirements.
The property is located at 23 Vernon Street in Taunton, Massachusetts, near shopping, schools, restaurants, and major commuter routes. Its three-family configuration supports both residential income use and owner-occupant consideration, subject to applicable requirements.
Key Highlights
- Three‑family triplex with 2,569 square feet
- 0.24‑acre corner lot at 23 Vernon Street
- Separate utilities serve the residential 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
$45,911
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
7.07%
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%
$918,220
$918.2K
Cap Rate 7%
$655,871
$655.9K
Cap Rate 9%
$510,122
$510.1K
Market Conditions
NOI Build-Up for 2,569 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
$70.9K $27.60/SF
− Vacancy
−$5.3K −$2.07/SF
EGI
$65.6K $25.53/SF
− OpEx
−$19.7K −$7.66/SF
NOI
$45.9K $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%
$918,220
Cap Rate 7%
$655,871
Cap Rate 9%
$510,122
Alternative Uses
Best Use
Multifamily LT 5
$655.9K
$573.9K – $765.2K
NOI $45,911 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$609.5K
$533.3K – $711.1K
NOI $42,667 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$1.56M
$1.37M – $1.83M
NOI $109,513 @ 7.0% cap · market cap 16.87%
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
798
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?
Triplex - Residential income property with three units, below-market current rents, and an as-is sale condition.
Where is this triplex located?
The property is located at 23 Vernon Street Taunton, MA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Three‑family triplex with 2,569 square feet; 0.24‑acre corner lot at 23 Vernon Street; Separate utilities serve the residential units
