Updated Duplex with Detached
For Sale
$769,000
29 Broad Street, Plainville, MA 02762
Two residences share one property, including a rebuilt rear home with a private deck.
Property Size2,669 SF
Price / SF$288.12
Days on Market146
Property Features for 29 Broad Street
General Information
Standard status
Active
Size
2,669 SF
Total Parking Spaces
6
Property subtype
Multi-family / 2 Family
Zoning
RC
Units
Unit Mix
1 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,348
Amenities
fireplace
three-season enclosed porch
private deck
No
Vinyl, Hardwood
Range, Dishwasher, Microwave, Refrigerator, Freezer
1
Yes
3.0
Washer Hookup, Dryer Hookup
Full, Interior Access
Stone/Granite/Solid Counters, Open Floorplan, Remodeled, Living Room, Dining Room, Kitchen, Sunroom, Family Room, Laundry Room
2
2.50
3
Frame
Shingle
Rain Gutters, Deck
Deck
Building Details
Year Built
1940
Buildings
2
Listing Agency:
Real Broker MA, LLC
(855) 450-0442
Listed By:
The Needle Group · License #70010221
(855) 450-0442
Source:
Compass
Added: Apr 8
Changed: Aug 30
Last Checked: Aug 30 at 10:54PM
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 Real Broker MA, LLC
Investment Insights
Based on property information with market context.
This duplex property includes a 2,669-square-foot Colonial main residence and a separate rear home. The front house offers three bedrooms, 1.5 baths, hardwood flooring, a remodeled kitchen with granite counters and stainless steel appliances, a living room with fireplace and built-ins, a formal dining room, an enclosed three-season porch, and an unfinished basement with high ceilings. The rear residence was fully rebuilt in 2025 and includes an open layout, new kitchen and bathroom, Pella windows, a new roof, private deck, heat pump, and updated electrical and plumbing systems.
A detached two-car garage provides additional storage. The property is zoned RC and is located at 29 Broad Street in Plainville, Massachusetts, with access to Route 495 and proximity to Providence and Boston.
A detached two-car garage provides additional storage. The property is zoned RC and is located at 29 Broad Street in Plainville, Massachusetts, with access to Route 495 and proximity to Providence and Boston.
Key Highlights
- 2,669‑square‑foot duplex property with two separate residences
- Front Colonial residence with 3 bedrooms and 1.5 baths
- Rear home fully rebuilt in 2025
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
$47,811
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
6.22%
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%
$956,220
$956.2K
Cap Rate 7%
$683,014
$683.0K
Cap Rate 9%
$531,233
$531.2K
Market Conditions
NOI Build-Up for 2,669 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
$72.1K $27.00/SF
− Vacancy
−$3.8K −$1.41/SF
EGI
$68.3K $25.59/SF
− OpEx
−$20.5K −$7.68/SF
NOI
$47.8K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$956,220
Cap Rate 7%
$683,014
Cap Rate 9%
$531,233
Alternative Uses
Best Use
Multifamily LT 5
$683.0K
$597.6K – $796.9K
NOI $47,811 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$630.2K
$551.4K – $735.2K
NOI $44,113 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,603 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Explore this area
Business Placement
Demographics for 02762, MA
9,945
Population
4,416
Households
2.3
Avg Household Size
43
Median Age
43%
College-Educated
95%
High-School Grad
11.0 sq mi
ZIP Area
904
Density / Sq Mi
$95,625
Median Household Income
$56,133
Median Earnings
$1,901
Median Rent
$461,200
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 - Two residences share one property, including a rebuilt rear home with a private deck.
Where is this duplex located?
The property is located at 29 Broad Street Plainville, MA.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: 2,669‑square‑foot duplex property with two separate residences; Front Colonial residence with 3 bedrooms and 1.5 baths; Rear home fully rebuilt in 2025
