Updated Triplex with Unfinished
For Sale
$874,900
28 Prospect Street, Brockton, MA 02301
Three spacious three-bedroom units, off-street parking, and updated heating systems support residential income use.
Property Size3,924 SF
Price / SF$222.96
Days on Market154
Property Features for 28 Prospect Street
General Information
Standard status
Active
Size
3,924 SF
Property subtype
Multi-family
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Amenities
off street parking
Building Details
Year Built
1925
Listing Agency:
RE/MAX Legacy
(774) 786-0924
Listed By:
Blake Starratt
(774) 280-2745
Source:
Broadboutique
Added: Mar 31
Changed: Aug 29
Last Checked: Aug 30 at 5:57PM
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 RE/MAX Legacy
Investment Insights
Based on property information with market context.
This updated triplex contains three three-bedroom units totaling 3,924 square feet of living space. The property includes off-street parking and improvements to the heating systems. Built in 1925, the building provides three separate residential units within a single property.
A large unfinished barn adds additional space for future planning. Potential uses may include ADU conversion or expanded use, subject to buyer due diligence and City of Brockton approvals. Located at 28 Prospect Street in Brockton, Massachusetts, the property may suit investors or owner-occupants seeking a multifamily asset with additional improvement possibilities.
A large unfinished barn adds additional space for future planning. Potential uses may include ADU conversion or expanded use, subject to buyer due diligence and City of Brockton approvals. Located at 28 Prospect Street in Brockton, Massachusetts, the property may suit investors or owner-occupants seeking a multifamily asset with additional improvement possibilities.
Key Highlights
- Three three‑bedroom residential units
- 3,924 square feet of living space
- Large unfinished barn with potential ADU conversion or expanded use, subject to approvals
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
$67,678
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
7.74%
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%
$1,353,560
$1.4M
Cap Rate 7%
$966,829
$966.8K
Cap Rate 9%
$751,978
$752.0K
Market Conditions
NOI Build-Up for 3,924 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
$101.2K $25.80/SF
− Vacancy
−$4.6K −$1.16/SF
EGI
$96.7K $24.64/SF
− OpEx
−$29.0K −$7.39/SF
NOI
$67.7K $17.25/SF
Area
Brockton, MA
Vacancy
4.50%
Lease Rate
$25.80 /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%
$1,353,560
Cap Rate 7%
$966,829
Cap Rate 9%
$751,978
Alternative Uses
Best Use
Multifamily LT 5
$966.8K
$846.0K – $1.13M
NOI $67,678 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$855.8K
$748.8K – $998.4K
NOI $59,906 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,641 @ 7.0% cap · market cap 14.93%
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
1,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 02301, MA
69,418
Population
24,592
Households
2.8
Avg Household Size
37
Median Age
22%
College-Educated
81%
High-School Grad
12.4 sq mi
ZIP Area
5,598
Density / Sq Mi
$72,727
Median Household Income
$43,588
Median Earnings
$1,566
Median Rent
$414,200
Median Home Value
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 spacious three-bedroom units, off-street parking, and updated heating systems support residential income use.
Where is this triplex located?
The property is located at 28 Prospect Street Brockton, MA.
What is the asking price?
The asking price for this property is $874,900.
What are key features of this property?
This property features: Three three‑bedroom residential units; 3,924 square feet of living space; Large unfinished barn with potential ADU conversion or expanded use, subject to approvals
