Renovated Two-Unit Residential
For Sale
$650,000
Pending
285 Broad St, Bridgewater, MA 02324
Recently renovated two-family home with two separate bedroom units and delivery vacant at closing.
Property Size1,848 SF
Lot Size0.52 Acres
Days on Market48
Property Features for 285 Broad St
General Information
Standard status
Pending
Size
1,848 SF
Lot size
0.52 Acres
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,106
Building Details
Tenancy
Multi
Listing Agency:
eXp Realty LLC
(339) 201-1932
Listed By:
Kimberly Dalton
(339) 201-1932
Source:
Exprealty
Added: Jul 7
Changed: Aug 23
Last Checked: Aug 22 at 4:23AM
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
Investment Insights
Based on property information with market context.
This recently renovated two-family home is set on a spacious lot and offers two separate residential units. The first-floor unit features three bedrooms, while the second-floor unit features two bedrooms. The property will be delivered vacant at closing, providing flexibility for an owner-occupant or an investor to move in or select tenants.
Recent updates include upgraded electrical, a newer heating system, new water heaters, refinished hardwood floors, freshly painted exterior, new interior and exterior doors, a newer front porch, and a finished bonus room in the basement. An existing concrete slab on the large lot may offer options for future expansion such as a garage or an ADU, subject to local approvals.
The home has a proven rental history of approximately $57,000 annually.
Recent updates include upgraded electrical, a newer heating system, new water heaters, refinished hardwood floors, freshly painted exterior, new interior and exterior doors, a newer front porch, and a finished bonus room in the basement. An existing concrete slab on the large lot may offer options for future expansion such as a garage or an ADU, subject to local approvals.
The home has a proven rental history of approximately $57,000 annually.
Key Highlights
- Recently renovated two‑family home on a 0.52‑acre lot, delivered vacant at closing for owner‑occupants or investors
- 3‑bedroom first‑floor unit plus a 2‑bedroom second‑floor unit
- Updates include upgraded electrical, newer heating system, and new water heaters
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
$31,232
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
4.80%
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%
$624,640
$624.6K
Cap Rate 7%
$446,171
$446.2K
Cap Rate 9%
$347,022
$347.0K
Market Conditions
NOI Build-Up for 1,848 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
$47.1K $25.50/SF
− Vacancy
−$2.5K −$1.36/SF
EGI
$44.6K $24.14/SF
− OpEx
−$13.4K −$7.24/SF
NOI
$31.2K $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%
$624,640
Cap Rate 7%
$446,171
Cap Rate 9%
$347,022
Alternative Uses
Best Use
Multifamily LT 5
$446.2K
$390.4K – $520.5K
NOI $31,232 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$411.2K
$359.8K – $479.7K
NOI $28,784 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$1.09M
$957.3K – $1.28M
NOI $76,581 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 02324, MA
25,676
Population
9,770
Households
2.6
Avg Household Size
42
Median Age
40%
College-Educated
94%
High-School Grad
27.0 sq mi
ZIP Area
951
Density / Sq Mi
$112,445
Median Household Income
$57,560
Median Earnings
$1,975
Median Rent
$500,600
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?
Duplex - Recently renovated two-family home with two separate bedroom units and delivery vacant at closing.
Where is this duplex located?
The property is located at 285 Broad St Bridgewater, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Recently renovated two‑family home on a 0.52‑acre lot, delivered vacant at closing for owner‑occupants or investors; 3‑bedroom first‑floor unit plus a 2‑bedroom second‑floor unit; Updates include upgraded electrical, newer heating system, and new water heaters
