Three-Unit Residential
For Sale
$749,900
28 Main Street, Kingston, MA 02364
Three separate units include a first-floor eat-in kitchen, updated second unit, and a studio-style third unit.
Property Size2,526 SF
Price / SF$296.87
Days on Market140
Property Features for 28 Main Street
General Information
Standard status
Active
Size
2,526 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
x
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Building Size
2,526 SF
Year Built
1890
Stories
2
Listing Agency:
eXp Realty
Listed By:
Kathie Palm · License #455000786
(508) 320-5115
Source:
Cjbarrett
Added: Apr 28
Changed: Aug 23
Last Checked: Aug 19 at 4:13AM
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
Investment Insights
Based on property information with market context.
This three-family residential income property offers three distinct units. The first-floor unit features 2–3 bedrooms, a large eat-in kitchen, a dedicated laundry room, and access to a farmer’s porch. Unit 2 has a newer kitchen, bath, and flooring. The third unit is a studio with a bedroom/living-room combination, a small eat-in kitchen, and a laundry/pantry area. Appliances are included, and the property has a nice level yard with plenty of parking.
The building is located in Kingston with convenient access to Route 3 and the Kingston train station. The area includes nearby restaurants, and the remarks note that downtown Plymouth and the ocean are within reach.
The configuration supports a straightforward three-tenant setup, with separate layouts across the first-floor unit, a recently updated second unit, and a compact third studio unit.
The building is located in Kingston with convenient access to Route 3 and the Kingston train station. The area includes nearby restaurants, and the remarks note that downtown Plymouth and the ocean are within reach.
The configuration supports a straightforward three-tenant setup, with separate layouts across the first-floor unit, a recently updated second unit, and a compact third studio unit.
Key Highlights
- 3‑family home in Kingston with 3 separate rental units
- Ocean waterfront description and a level yard with 5 total off‑street parking spaces
- Central air and forced‑air natural gas heating
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
$42,690
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
5.69%
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%
$853,800
$853.8K
Cap Rate 7%
$609,857
$609.9K
Cap Rate 9%
$474,333
$474.3K
Market Conditions
NOI Build-Up for 2,526 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
$64.4K $25.50/SF
− Vacancy
−$3.4K −$1.36/SF
EGI
$61.0K $24.14/SF
− OpEx
−$18.3K −$7.24/SF
NOI
$42.7K $16.90/SF
Area
Plymouth County, MA
Vacancy
5.32%
Lease Rate
$25.50 /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%
$853,800
Cap Rate 7%
$609,857
Cap Rate 9%
$474,333
Alternative Uses
Best Use
Multifamily LT 5
$609.9K
$533.6K – $711.5K
NOI $42,690 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$562.1K
$491.8K – $655.8K
NOI $39,345 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$1.50M
$1.31M – $1.74M
NOI $104,677 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 02364, MA
13,708
Population
5,658
Households
2.4
Avg Household Size
43
Median Age
49%
College-Educated
99%
High-School Grad
18.6 sq mi
ZIP Area
737
Density / Sq Mi
$115,863
Median Household Income
$59,955
Median Earnings
$1,157
Median Rent
$562,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Three separate units include a first-floor eat-in kitchen, updated second unit, and a studio-style third unit.
Where is this triplex located?
The property is located at 28 Main Street Kingston, MA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 3‑family home in Kingston with 3 separate rental units; Ocean waterfront description and a level yard with 5 total off‑street parking spaces; Central air and forced‑air natural gas heating
