Triplex with Garage and
For Sale
$725,000
39 Hope Street, Attleboro, MA 02703
Three residential units feature two-bedroom layouts, hardwood floors, shared laundry, and an open first-floor deck.
Property Size2,246 SF
Lot Size0.30 Acres
Price / SF$322.80
Days on Market157
Property Features for 39 Hope Street
General Information
Standard status
Active
Size
2,246 SF
Total Parking Spaces
5
Lot size
0.30 Acres
Property subtype
Multi-family / 3 Family - 3 Units Up/Down
Zoning
R3
Net Operating Income
$63,600
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,251
Amenities
coin-operated laundry
deck
No, .00
No
Wood
Washer, Dryer, Range, Dishwasher, Refrigerator, Freezer
3.0
Laundry Room, Ceiling Fan(s), Bathroom With Tub & Shower, Living Room, Kitchen
3
3.00
Frame
Shingle
Corner Lot
Building Details
Year Built
1900
Buildings
1
Listing Agency:
William L. Wheatley Realty
(508) 642-7340
Listed By:
William Wheatley · License #146053
(508) 642-7340
Source:
Compass
Added: Mar 28
Changed: Aug 30
Last Checked: Aug 30 at 7:38PM
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 William L. Wheatley Realty
Investment Insights
Based on property information with market context.
This three-unit residential property contains 2,246 square feet and was built in 1900. Each apartment has two bedrooms and hardwood flooring, with living rooms, kitchens, and bathrooms equipped with tubs and showers. The first floor includes an open deck, while the basement provides storage and coin-operated laundry with a washer and dryer. Range, dishwasher, refrigerator, and freezer are also included.
Set on a 0.3-acre corner lot in an R3 zoning district, the property includes a garage with an overhead door and furnace. The garage may serve as a workshop. Expansion potential is identified for the lot, subject to review by city building officials.
Set on a 0.3-acre corner lot in an R3 zoning district, the property includes a garage with an overhead door and furnace. The garage may serve as a workshop. Expansion potential is identified for the lot, subject to review by city building officials.
Key Highlights
- Three‑unit property with 2,246 square feet
- Each unit includes 2 bedrooms and hardwood floors
- 0.3‑acre corner lot with R3 zoning
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
$40,138
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
5.54%
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%
$802,760
$802.8K
Cap Rate 7%
$573,400
$573.4K
Cap Rate 9%
$445,978
$446.0K
Market Conditions
NOI Build-Up for 2,246 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
$62.0K $27.60/SF
− Vacancy
−$4.6K −$2.07/SF
EGI
$57.3K $25.53/SF
− OpEx
−$17.2K −$7.66/SF
NOI
$40.1K $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%
$802,760
Cap Rate 7%
$573,400
Cap Rate 9%
$445,978
Alternative Uses
Best Use
Multifamily LT 5
$573.4K
$501.7K – $669.0K
NOI $40,138 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$532.9K
$466.3K – $621.7K
NOI $37,302 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,744 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
289
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?
Triplex - Three residential units feature two-bedroom layouts, hardwood floors, shared laundry, and an open first-floor deck.
Where is this triplex located?
The property is located at 39 Hope Street Attleboro, 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: Three‑unit property with 2,246 square feet; Each unit includes 2 bedrooms and hardwood floors; 0.3‑acre corner lot with R3 zoning
