Three-Unit Multifamily
28 Court St, Mansfield, MA 02048
For Sale
$899,000
Downtown residential property with updated systems, separate utilities, and shared parking and site maintenance.
Property Size4,311 SF
Price / SF$208.54
Days on Market93
Property Features for 28 Court St
General Information
Standard status
Size
Property subtype
Site & Location
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Additional Details
HOA Fee
Amenities
landscaping
snow removal
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
eXp Realty LLC - Corporate Office
Listed By:
Alexandra McDermott
(774) 487-2731
Source:
Seaveyrealtyteam
Added: Aug 10
Changed: Oct 25
Last Checked: Oct 7 at 3:30PM
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 eXp Realty LLC - Corporate Office
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Investment Insights
Based on property information with market context.
Built in 1910, this RES-zoned multifamily property contains three residential units arranged across three levels. The first floor includes one one-bedroom unit and one two-bedroom unit, while a five-bedroom unit occupies the second and third floors. Electrical service and the heating system have been updated, and each unit has separate water, heat, and electric utilities.
The property is located in downtown Mansfield near the train station and shares parking, landscaping, and snow removal amenities with Jackson Court Condominiums. Unit 11, the one-bedroom apartment, is leased month to month; Units 12 and 13 are vacant. The property is addressed as 28 Court Street, with the individual units identified as 11, 12, and 13 Court Street.
The property is located in downtown Mansfield near the train station and shares parking, landscaping, and snow removal amenities with Jackson Court Condominiums. Unit 11, the one-bedroom apartment, is leased month to month; Units 12 and 13 are vacant. The property is addressed as 28 Court Street, with the individual units identified as 11, 12, and 13 Court Street.
Key Highlights
- Three residential units with one-, two-, and five‑bedroom layouts
- Five‑bedroom unit spans the second and third floors
- Updated electric service and heating system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,042
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,540,840
$1.5M
Cap Rate 7%
$1,100,600
$1.1M
Cap Rate 9%
$856,022
$856.0K
Market Conditions
NOI Build-Up for 4,311 SF
Gross rent
$119.0K $27.60/SF
− Vacancy
−$8.9K −$2.07/SF
EGI
$110.1K $25.53/SF
− OpEx
−$33.0K −$7.66/SF
NOI
$77.0K $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 Rate 5%
$1,540,840
Cap Rate 7%
$1,100,600
Cap Rate 9%
$856,022
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.0K – $1.28M
NOI $77,042 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$1.02M
$895.0K – $1.19M
NOI $71,598 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$2.63M
$2.30M – $3.06M
NOI $183,773 @ 7.0% cap · market cap 20.44%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
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Business Placement
Demographics for 02048, MA
23,860
Population
9,228
Households
2.6
Avg Household Size
40
Median Age
51%
College-Educated
96%
High-School Grad
20.1 sq mi
ZIP Area
1,187
Density / Sq Mi
$131,409
Median Household Income
$65,154
Median Earnings
$1,702
Median Rent
$571,000
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Bristol County, MA
Properties on Market for Triplexes in Bristol County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Downtown residential property with updated systems, separate utilities, and shared parking and site maintenance.
Where is this triplex located?
The property is located at 28 Court St Mansfield, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three residential units with one-, two-, and five‑bedroom layouts; Five‑bedroom unit spans the second and third floors; Updated electric service and heating system
