Duplex with Generous
For Sale
$699,900
485 Mendon Road, Attleboro, MA 02703
Two separate residences combine flexible living arrangements with updated electrical service and new heat/AC pumps.
Property Size2,032 SF
Price / SF$344.44
Days on Market13
Property Features for 485 Mendon Road
General Information
Standard status
Active
Size
2,032 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Evolution Properties
(508) 543-8060
Listed By:
John Boss
(781) 933-7200
Source:
Jmulkerinrealty
Added: Aug 18
Changed: Aug 29
Last Checked: Aug 24 at 4:17AM
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 Berkshire Hathaway HomeServices Evolution Properties
Investment Insights
Based on property information with market context.
Built in 1925, this duplex contains two separate residences with distinct bedroom layouts. The first-floor apartment has 3 bedrooms and 1 full bathroom, while the upper unit provides 2 bedrooms and 1 full bathroom. Updated electrical service and new heat/AC pumps add to the property’s current functionality.
The home sits on a large lot with an expansive yard that offers usable outdoor space for gardening, recreation, entertaining, or everyday enjoyment. Its two-unit configuration supports a range of residential ownership and occupancy arrangements, including the owner-occupant, extended-family, and investment uses identified for the property. The address is 485 Mendon Rd, Attleboro, MA 02703.
The home sits on a large lot with an expansive yard that offers usable outdoor space for gardening, recreation, entertaining, or everyday enjoyment. Its two-unit configuration supports a range of residential ownership and occupancy arrangements, including the owner-occupant, extended-family, and investment uses identified for the property. The address is 485 Mendon Rd, Attleboro, MA 02703.
Key Highlights
- Duplex with 2 separate residences
- First‑floor unit has 3 bedrooms and 1 full bathroom
- Second unit includes 2 bedrooms and 1 full bathroom
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
$36,314
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
5.19%
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%
$726,280
$726.3K
Cap Rate 7%
$518,771
$518.8K
Cap Rate 9%
$403,489
$403.5K
Market Conditions
NOI Build-Up for 2,032 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
$56.1K $27.60/SF
− Vacancy
−$4.2K −$2.07/SF
EGI
$51.9K $25.53/SF
− OpEx
−$15.6K −$7.66/SF
NOI
$36.3K $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%
$726,280
Cap Rate 7%
$518,771
Cap Rate 9%
$403,489
Alternative Uses
Best Use
Multifamily LT 5
$518.8K
$453.9K – $605.2K
NOI $36,314 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$482.1K
$421.9K – $562.5K
NOI $33,748 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,622 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
132
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 - Two separate residences combine flexible living arrangements with updated electrical service and new heat/AC pumps.
Where is this duplex located?
The property is located at 485 Mendon Road Attleboro, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Duplex with 2 separate residences; First‑floor unit has 3 bedrooms and 1 full bathroom; Second unit includes 2 bedrooms and 1 full bathroom
