Three-Unit Residential Income
For Sale
$899,000
28 Court Street, Mansfield, MA 02048
Three residential units with updated electrical and heating, including separate utilities for water, heat, and electric.
Property Size4,311 SF
Price / SF$208.54
Days on Market52
Property Features for 28 Court Street
General Information
Standard status
Active
Size
4,311 SF
Property subtype
Multi-family
Building Details
Year Built
1910
Listing Agency:
eXp Realty LLC - Corporate Office
Listed By:
Alexandra McDermott
(413) 584-2900
Source:
Mapleandmainrealty
Added: Jun 9
Changed: Jul 26
Last Checked: Jul 28 at 11:49PM
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
Investment Insights
Based on property information with market context.
Large three-family property in downtown Mansfield, located close to the train station. The building shares amenities with Jackson Court Condominiums, including parking, landscaping, and snow removal, with a condo fee of $348 per month.
The configuration includes two units on the first floor (one 1-bedroom and one 2-bedroom) and a third unit on the second and third floors (5 bedrooms). Unit 11 is on a month-to-month lease, while the other two units are vacant. Utilities are separate by unit, including water, heat, and electric.
The property has updated electric and heating systems. The address is 28 Court Street, and the units are labeled as 11, 12, and 13 Court Street.
The configuration includes two units on the first floor (one 1-bedroom and one 2-bedroom) and a third unit on the second and third floors (5 bedrooms). Unit 11 is on a month-to-month lease, while the other two units are vacant. Utilities are separate by unit, including water, heat, and electric.
The property has updated electric and heating systems. The address is 28 Court Street, and the units are labeled as 11, 12, and 13 Court Street.
Key Highlights
- 3‑family in downtown Mansfield built in 1910, with two units on the first floor and one unit on the 2nd/3rd floors
- Updated electric and heating system; separate utilities for each unit including water, heat, and electric
- Condo‑shared amenities include parking, landscaping, and snow removal; condo fee is $348 per month
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $119.0k | $27.60 |
| − Vacancy | −$8.9k | −$2.07 |
| EGI | $110.1k | $25.53 |
| − OpEx | −$33.0k | −$7.66 |
| NOI | $77.0k | $17.87 |
4,311 SF · lease $27.60/SF/yr · vacancy 7.50% · expense 30.00%
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.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
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
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 - Three residential units with updated electrical and heating, including separate utilities for water, heat, and electric.
Where is this triplex located?
The property is located at 28 Court Street 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: 3‑family in downtown Mansfield built in 1910, with two units on the first floor and one unit on the 2nd/3rd floors; Updated electric and heating system; separate utilities for each unit including water, heat, and electric; Condo‑shared amenities include parking, landscaping, and snow removal; condo fee is $348 per month
