Three-Unit Multi-Family Near
For Sale
$899,000
Pending
47 Hale St, Bridgewater, MA 02324
Multi-unit property near Bridgewater State University with strong rental potential.
Property Size2,812 SF
Days on Market107
Property Features for 47 Hale St
General Information
Standard status
Pending
Size
2,812 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,350
Building Details
Building Size
2,812 SF
Year Built
1882
Stories
3
Units
3
Listing Agency:
Showcase Properties
(781) 985-6545
Listed By:
Shannon Toland · License #9034855
(781) 985-6545
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 8 at 10:15AM
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 Showcase Properties
Investment Insights
Based on property information with market context.
This three-family multi-unit property features a total of 9 bedrooms and 3 full baths distributed across three separate units. The first-floor unit, fully remodeled in 2021, includes 4 bedrooms, a spacious kitchen equipped with white cabinetry and appliances, and a full bath. The second-floor unit offers 4 bedrooms, with kitchen and bath updates completed in 2011. The third-floor unit, also renovated in 2011, features 1 bedroom, an eat-in kitchen, and an oversized living room. The layouts are designed to provide strong rental flexibility, with each unit having two means of egress. Flooring throughout the property consists of a mix of hardwood, vinyl, and tile. The property is equipped with separate gas and electric meters for each unit. A coin-operated laundry facility is located in the basement, offering the potential for additional income. Externally, the property provides ample off-street parking. Its location offers convenient access to local amenities, situated near Bridgewater State University, commuter routes, downtown shops, and dining, which supports consistent tenant demand.
Key Highlights
- Three‑unit property with 9 bedrooms and 3 full baths offering strong rental flexibility.
- First‑floor unit fully remodeled in 2021 featuring 4 bedrooms and a spacious kitchen.**
- Separate gas and electric meters for each unit.
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
$47,524
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
5.29%
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%
$950,480
$950.5K
Cap Rate 7%
$678,914
$678.9K
Cap Rate 9%
$528,044
$528.0K
Market Conditions
NOI Build-Up for 2,812 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
$71.7K $25.50/SF
− Vacancy
−$3.8K −$1.36/SF
EGI
$67.9K $24.14/SF
− OpEx
−$20.4K −$7.24/SF
NOI
$47.5K $16.90/SF
Area
Plymouth County, MA
Vacancy
5.32%
Lease Rate
$25.50 /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%
$950,480
Cap Rate 7%
$678,914
Cap Rate 9%
$528,044
Alternative Uses
Best Use
Multifamily LT 5
$678.9K
$594.1K – $792.1K
NOI $47,524 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$625.7K
$547.5K – $730.0K
NOI $43,800 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$1.66M
$1.46M – $1.94M
NOI $116,529 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Explore this area
Business Placement
Demographics for 02324, MA
25,676
Population
9,770
Households
2.6
Avg Household Size
42
Median Age
40%
College-Educated
94%
High-School Grad
27.0 sq mi
ZIP Area
951
Density / Sq Mi
$112,445
Median Household Income
$57,560
Median Earnings
$1,975
Median Rent
$500,600
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?
Multifamily property - Multi-unit property near Bridgewater State University with strong rental potential.
Where is this multifamily property located?
The property is located at 47 Hale St Bridgewater, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three‑unit property with 9 bedrooms and 3 full baths offering strong rental flexibility.; First‑floor unit fully remodeled in 2021 featuring 4 bedrooms and a spacious kitchen.**; Separate gas and electric meters for each unit.
