Victorian-Style Duplex with Covered
For Sale
Under Contract
$725,000
3 Harrison Avenue, Braintree, MA 02184
MULTI_FAMILY - Braintree, MA
Property Size1,667 SF
Lot Size0.24 Acres
Price / SF$434.91
Days on Market97
Property Features for 3 Harrison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1
Parking
6
Directions
Corner of Cleveland Avenue, close to the T and highways for an easy commute!
Standard status
Active Under Contract
APN
M:2015 B:0 L:38A,17896
Size
1,667 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6234
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty
(781) 843-3200
Listed By:
Steve Zeboski
(781) 843-3200
Added: May 4
Changed: Aug 8
Last Checked: Aug 8 at 11:06PM
MLS# 73512317
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Charming Victorian-style two-family duplex built in 1920 on a corner lot. The home features a wrap-around covered Farmer’s Porch and a deck, plus a good-sized yard with plenty of off-street parking. Exterior improvements include aluminum siding and vinyl replacement windows.
Inside, the first floor has had some updates and offers hardwood floors in many rooms, along with a den/office with the second egress and a pantry with laundry hookups. There is also a washer and dryer on the first level. The upstairs unit includes an entry foyer, two bedrooms, a living room, a kitchen, and a full bath.
The basement houses the utilities, provides another laundry hookup, and includes open storage accessed via the bulkhead. The property is offered in as-is condition. With proximity to the T, commuter rail, and highways, it suits an owner-occupant or a tenant seeking an efficient commute.
Inside, the first floor has had some updates and offers hardwood floors in many rooms, along with a den/office with the second egress and a pantry with laundry hookups. There is also a washer and dryer on the first level. The upstairs unit includes an entry foyer, two bedrooms, a living room, a kitchen, and a full bath.
The basement houses the utilities, provides another laundry hookup, and includes open storage accessed via the bulkhead. The property is offered in as-is condition. With proximity to the T, commuter rail, and highways, it suits an owner-occupant or a tenant seeking an efficient commute.
Key Highlights
- Victorian‑style two‑family duplex built in 1920 with exterior aluminum siding and vinyl replacement windows
- 0.235‑acre corner lot with a good‑sized yard and plenty of off‑street parking
- Wrap‑around covered Farmer’s Porch plus a deck for outdoor space
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
$29,862
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
4.12%
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%
$597,240
$597.2K
Cap Rate 7%
$426,600
$426.6K
Cap Rate 9%
$331,800
$331.8K
Market Conditions
NOI Build-Up for 1,667 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
$45.0K $27.00/SF
− Vacancy
−$2.3K −$1.41/SF
EGI
$42.7K $25.59/SF
− OpEx
−$12.8K −$7.68/SF
NOI
$29.9K $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%
$597,240
Cap Rate 7%
$426,600
Cap Rate 9%
$331,800
Alternative Uses
Best Use
Multifamily LT 5
$426.6K
$373.3K – $497.7K
NOI $29,862 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$393.6K
$344.4K – $459.2K
NOI $27,552 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$986.9K
$863.5K – $1.15M
NOI $69,080 @ 7.0% cap · market cap 9.53%
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
850
Businesses Nearby
Explore this area
Business Placement
Demographics for 02184, MA
39,143
Population
15,032
Households
2.6
Avg Household Size
42
Median Age
47%
College-Educated
93%
High-School Grad
13.8 sq mi
ZIP Area
2,836
Density / Sq Mi
$125,305
Median Household Income
$65,542
Median Earnings
$1,925
Median Rent
$623,200
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 - Corner-lot 2-family with a wrap-around covered porch, deck, and off-street parking; zoning B.
Where is this duplex located?
The property is located at 3 Harrison Avenue Braintree, MA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Victorian‑style two‑family duplex built in 1920 with exterior aluminum siding and vinyl replacement windows; 0.235‑acre corner lot with a good‑sized yard and plenty of off‑street parking; Wrap‑around covered Farmer’s Porch plus a deck for outdoor space
