Updated Two-Unit
For Sale
$639,900
387 Mendon Road, Attleboro, MA 02703
Upper and lower residences provide a practical two-level configuration with shared coin-operated laundry.
Property Size1,925 SF
Price / SF$332.42
Days on Market31
Property Features for 387 Mendon Road
General Information
Standard status
Active
Size
1,925 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Amenities
coin-operated washer/dryer
Building Details
Year Built
1971
Buildings
1
Listing Agency:
Century 21 North East
Listed By:
Christine Simpson
(508) 823-9400
Source:
Ballowhutchinsonrealestate
Added: Jul 21
Changed: Aug 20
Last Checked: Aug 20 at 8:43AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This 1,925-square-foot duplex at 387 Mendon Road contains two residential units arranged across the upper and lower levels. The upper residence has 3 bedrooms, while the lower residence has 2 bedrooms. Windows, the heating system, and the hot water tank have been replaced within the last few years. A shared area includes coin-operated laundry equipment, with gas heating and a hot water tank supported by separate electric service.
The property offers highway access toward Providence and Boston, with the “T” located minutes away. Restaurants and shopping are also nearby, providing convenient access to everyday services and regional transportation.
The property offers highway access toward Providence and Boston, with the “T” located minutes away. Restaurants and shopping are also nearby, providing convenient access to everyday services and regional transportation.
Key Highlights
- 1,925 SF duplex with two residential units
- Upper‑level 3‑bedroom unit and lower‑level 2‑bedroom unit
- Windows, heating system, and hot water tank replaced within the last few years
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
$34,402
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
5.38%
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%
$688,040
$688.0K
Cap Rate 7%
$491,457
$491.5K
Cap Rate 9%
$382,244
$382.2K
Market Conditions
NOI Build-Up for 1,925 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
$53.1K $27.60/SF
− Vacancy
−$4.0K −$2.07/SF
EGI
$49.1K $25.53/SF
− OpEx
−$14.7K −$7.66/SF
NOI
$34.4K $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%
$688,040
Cap Rate 7%
$491,457
Cap Rate 9%
$382,244
Alternative Uses
Best Use
Multifamily LT 5
$491.5K
$430.0K – $573.4K
NOI $34,402 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$456.7K
$399.6K – $532.9K
NOI $31,971 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,060 @ 7.0% cap · market cap 12.82%
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
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?
Duplex - Upper and lower residences provide a practical two-level configuration with shared coin-operated laundry.
Where is this duplex located?
The property is located at 387 Mendon Road Attleboro, MA.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: 1,925 SF duplex with two residential units; Upper‑level 3‑bedroom unit and lower‑level 2‑bedroom unit; Windows, heating system, and hot water tank replaced within the last few years
