Victorian Two-Family Corner
For Sale
$725,000
Pending
3 Harrison Avenue, Braintree, MA 02184
Victorian-style two-family with off-street parking and multiple laundry hookups, offering flexible living or rental configurations.
Property Size1,667 SF
Days on Market125
Property Features for 3 Harrison Avenue
General Information
Standard status
Pending
Size
1,667 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,234
Building Details
Building Size
1,667 SF
Year Built
1920
Listing Agency:
Keller Williams Realty
Listed By:
Richard Lannon · License #135497
(781) 843-3200
Source:
Allisonmazer
Added: May 4
Changed: Sep 3
Last Checked: Aug 9 at 1:40PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This Victorian-style two-family home sits on a corner lot and is configured for two separate living areas. The property includes a wrap-around covered farmer’s porch and an additional deck for outdoor use. Inside, the first floor features hardwood floors in many rooms and has seen some updates. A den/office is included, along with pantry space and laundry hookups. The second level has an entry foyer, two bedrooms, a living room, and a kitchen, plus a full bathroom.
Additional conveniences include washer and dryer provided on the first level. The basement contains the utilities, another laundry hookup, and open storage accessed via the bulkhead. Exterior improvements include aluminum siding for most of the house and vinyl replacement windows.
The layout supports both owner-occupancy and tenant use, with room to separate work-from-home space on the main level and independent bedroom and living areas upstairs. With off-street parking and multiple laundry hookups, it can be workable for households that value day-to-day functionality. The home is being offered in as-is condition.
Additional conveniences include washer and dryer provided on the first level. The basement contains the utilities, another laundry hookup, and open storage accessed via the bulkhead. Exterior improvements include aluminum siding for most of the house and vinyl replacement windows.
The layout supports both owner-occupancy and tenant use, with room to separate work-from-home space on the main level and independent bedroom and living areas upstairs. With off-street parking and multiple laundry hookups, it can be workable for households that value day-to-day functionality. The home is being offered in as-is condition.
Key Highlights
- Victorian‑style 2‑family built in 1920 with a wrap‑around covered farmer’s porch on a corner lot
- Multiple laundry hookups: pantry/laundry hookup on the first floor and additional washer & dryer on the first level, plus basement laundry hookup
- Hardwood floors in many rooms and a den/office on the first floor with a second egress
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 - Victorian-style two-family with off-street parking and multiple laundry hookups, offering flexible living or rental configurations.
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 2‑family built in 1920 with a wrap‑around covered farmer’s porch on a corner lot; Multiple laundry hookups: pantry/laundry hookup on the first floor and additional washer & dryer on the first level, plus basement laundry hookup; Hardwood floors in many rooms and a den/office on the first floor with a second egress
