Four-Unit Apartment
For Sale
$825,000
Pending
346 Brown Street, Attleboro, MA 02703
Four 2-bedroom, 1-bath units include off-street parking, with utilities separated between tenants and landlord.
Property Size2,900 SF
Lot Size0.21 Acres
Days on Market49
Property Features for 346 Brown Street
General Information
Standard status
Pending
Size
2,900 SF
Total Parking Spaces
6
Lot size
0.21 Acres
Property subtype
4 Family
Additional Details
Multifamily Units
4
Building Details
Building Size
2,900 SF
Year Built
1970
Listing Agency:
Horvath & Tremblay
(978) 406-1789
Listed By:
Stephen Girolamo · License #452508574
(978) 406-1789
Source:
Iverty
Added: Jul 14
Changed: Aug 31
Last Checked: Aug 31 at 3:33PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
346 Brown Street is a four-unit quadplex featuring four (4) 2-bedroom/1-bathroom apartments totaling 2,900 square feet of gross living area. The property includes six (6) off-street parking spaces. Tenants are responsible for electric-powered heat and hot water, as well as separately metered electricity paid directly to the utility. The landlord provides municipal water and sewer, which are paid directly.
The property is located in Attleboro and is described as having convenient access to established residential neighborhoods, local retail corridors, and major employment centers. The area’s commuter access includes Interstate 95, Route 1, and the Attleboro MBTA Commuter Rail Station with direct service to downtown Boston and Providence.
The asset is presented with some upside potential through raising current rents to market rates, subject to tenant and lease circumstances.
The property is located in Attleboro and is described as having convenient access to established residential neighborhoods, local retail corridors, and major employment centers. The area’s commuter access includes Interstate 95, Route 1, and the Attleboro MBTA Commuter Rail Station with direct service to downtown Boston and Providence.
The asset is presented with some upside potential through raising current rents to market rates, subject to tenant and lease circumstances.
Key Highlights
- 1970‑built four‑unit multifamily with four 2‑bedroom, 1‑bath apartments
- 2,900 SF gross living area on a 0.21‑acre parcel
- Six off‑street parking spaces
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
$51,826
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
6.28%
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%
$1,036,520
$1.0M
Cap Rate 7%
$740,371
$740.4K
Cap Rate 9%
$575,844
$575.8K
Market Conditions
NOI Build-Up for 2,900 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
$80.0K $27.60/SF
− Vacancy
−$6.0K −$2.07/SF
EGI
$74.0K $25.53/SF
− OpEx
−$22.2K −$7.66/SF
NOI
$51.8K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /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%
$1,036,520
Cap Rate 7%
$740,371
Cap Rate 9%
$575,844
Alternative Uses
Best Use
Multifamily LT 5
$740.4K
$647.8K – $863.8K
NOI $51,826 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$688.1K
$602.1K – $802.7K
NOI $48,164 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,624 @ 7.0% cap · market cap 14.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 02703, MA
46,389
Population
19,014
Households
2.4
Avg Household Size
42
Median Age
34%
College-Educated
90%
High-School Grad
26.8 sq mi
ZIP Area
1,731
Density / Sq Mi
$93,352
Median Household Income
$51,637
Median Earnings
$1,446
Median Rent
$409,400
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?
Quadplex - Four 2-bedroom, 1-bath units include off-street parking, with utilities separated between tenants and landlord.
Where is this quadplex located?
The property is located at 346 Brown Street Attleboro, MA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 1970‑built four‑unit multifamily with four 2‑bedroom, 1‑bath apartments; 2,900 SF gross living area on a 0.21‑acre parcel; Six off‑street parking spaces
