Three-Family Triplex with Separate
For Sale
$769,900
Pending
39 Church Street, Mansfield, MA 02048
MULTI_FAMILY - Mansfield, MA
Property Size2,740 SF
Lot Size0.20 Acres
Days on Market96
Property Features for 39 Church Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 6, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 7, Bedroom 3, Bedroom 5
Parking
6
Elementary school
Rob/Jj
Middle school
Qms
High school
Mhs
Directions
S Main to Church
Standard status
Pending
APN
M:024 B:369,2859584
Size
2,740 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7217
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams Elite · Keller Williams Realty
(508) 695-4545
Added: May 7
Changed: Aug 6
Last Checked: Aug 10 at 11:06PM
MLS# 73515045
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.
This three-family triplex at 39 Church Street offers approximately 2,740 square feet of living space in a 1900-built residence with a practical mix of historical character and functional updates. The first and second floor units each feature five rooms with three bedrooms and one bath, with the third bedroom on the first two floors noted as having no closet. The third-floor unit has three rooms with one bedroom and one bath.
Apartment-by-apartment improvements include newer carpeting and kitchen flooring, updated white kitchen cabinetry, and an updated bathroom vanity/sink for Unit #1 (all dated 2021). Unit #2 includes newer flooring plus an updated shower/vanity. The exterior is vinyl siding.
Utilities are set up for tenant convenience with gas heating that is separated, and separate electric meters and panels. The property is served by town water and sewer, and includes oil for hot water. The upgraded electric service is noted as 2026, and the property is within walking distance of the commuter rail at under one-half mile, with nearby shops and restaurants and close proximity to Routes 95/495.
Apartment-by-apartment improvements include newer carpeting and kitchen flooring, updated white kitchen cabinetry, and an updated bathroom vanity/sink for Unit #1 (all dated 2021). Unit #2 includes newer flooring plus an updated shower/vanity. The exterior is vinyl siding.
Utilities are set up for tenant convenience with gas heating that is separated, and separate electric meters and panels. The property is served by town water and sewer, and includes oil for hot water. The upgraded electric service is noted as 2026, and the property is within walking distance of the commuter rail at under one-half mile, with nearby shops and restaurants and close proximity to Routes 95/495.
Key Highlights
- Approx. 2,740 SF three‑family triplex residence built in 1900
- R zoning and 0.2044‑acre lot
- First and second floor units: five rooms, three bedrooms, one bath (3rd bedroom no closet)
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
$48,967
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
6.36%
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%
$979,340
$979.3K
Cap Rate 7%
$699,529
$699.5K
Cap Rate 9%
$544,078
$544.1K
Market Conditions
NOI Build-Up for 2,740 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
$75.6K $27.60/SF
− Vacancy
−$5.7K −$2.07/SF
EGI
$70.0K $25.53/SF
− OpEx
−$21.0K −$7.66/SF
NOI
$49.0K $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%
$979,340
Cap Rate 7%
$699,529
Cap Rate 9%
$544,078
Alternative Uses
Best Use
Multifamily LT 5
$699.5K
$612.1K – $816.1K
NOI $48,967 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$650.1K
$568.8K – $758.5K
NOI $45,507 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,803 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
Explore this area
Business Placement
Demographics for 02048, MA
23,860
Population
9,228
Households
2.6
Avg Household Size
40
Median Age
51%
College-Educated
96%
High-School Grad
20.1 sq mi
ZIP Area
1,187
Density / Sq Mi
$131,409
Median Household Income
$65,154
Median Earnings
$1,702
Median Rent
$571,000
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?
Triplex - R-zoned three-family with separate gas heating and meters, vinyl siding, and town water and sewer service.
Where is this triplex located?
The property is located at 39 Church Street Mansfield, MA.
What is the asking price?
The asking price for this property is $769,900.
What are key features of this property?
This property features: Approx. 2,740 SF three‑family triplex residence built in 1900; R zoning and 0.2044‑acre lot; First and second floor units: five rooms, three bedrooms, one bath (3rd bedroom no closet)
