Three-Unit Property with
New
For Sale
$1,249,900
5 Highland Avenue, Plainville, MA 02762
MULTI_FAMILY - Plainville, MA
Property Size3,313 SF
Lot Size0.28 Acres
Price / SF$377.27
Days on Market4
Property Features for 5 Highland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
res
Bedrooms
7
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 5, Bathroom 4, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 3, Bathroom 6, Bedroom 2, Bathroom 5, Bathroom 1, Bedroom 4, Bedroom 6, Bedroom 7
Parking
8
Fireplace
1
Elementary school
Jackson/Wood
Middle school
King Philip Middle
High school
King Philip Hs
Directions
Rt. 106 to Highland Avenue.
Standard status
Active
APN
169140
Size
3,313 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10337
Amenities
dedicated parking
private outdoor space
in-unit washer and dryer hookups
Building Details
Year built
1950
Floors in Building
4
Number of units
3
Listing Agency:
Keller Williams Elite · Keller Williams Realty
(508) 695-4545
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 9 at 4:06AM
MLS# 73560433
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 residential income property contains three units across 3,313 square feet on a 0.2801-acre lot. The original residence includes three bedrooms, 1.5 bathrooms, a remodeled kitchen with pantry, and an open family and dining area. Two additional units are townhouse-style residences: one provides 1,552 square feet with two bedrooms and 2.5 bathrooms, while the other offers two bedrooms and 1.5 bathrooms. The property was built in 1950 and includes a fireplace.
Unit A is scheduled to be vacant at delivery. Units B and C are each two years old. All three residences include dedicated parking, private outdoor space, and in-unit washer and dryer hookups. The property is zoned res and is located at 5 Highland Avenue in Plainville, Massachusetts.
Unit A is scheduled to be vacant at delivery. Units B and C are each two years old. All three residences include dedicated parking, private outdoor space, and in-unit washer and dryer hookups. The property is zoned res and is located at 5 Highland Avenue in Plainville, Massachusetts.
Key Highlights
- Three‑unit residential property with 3,313 square feet of combined living space
- 0.2801‑acre lot with residential zoning designated res
- Unit A delivered vacant; Units B and C are each two years old
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
$59,347
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
4.75%
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%
$1,186,940
$1.2M
Cap Rate 7%
$847,814
$847.8K
Cap Rate 9%
$659,411
$659.4K
Market Conditions
NOI Build-Up for 3,313 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
$89.5K $27.00/SF
− Vacancy
−$4.7K −$1.41/SF
EGI
$84.8K $25.59/SF
− OpEx
−$25.4K −$7.68/SF
NOI
$59.3K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$1,186,940
Cap Rate 7%
$847,814
Cap Rate 9%
$659,411
Alternative Uses
Best Use
Multifamily LT 5
$847.8K
$741.8K – $989.1K
NOI $59,347 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$782.2K
$684.5K – $912.6K
NOI $54,757 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,290 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Explore this area
Business Placement
Demographics for 02762, MA
9,945
Population
4,416
Households
2.3
Avg Household Size
43
Median Age
43%
College-Educated
95%
High-School Grad
11.0 sq mi
ZIP Area
904
Density / Sq Mi
$95,625
Median Household Income
$56,133
Median Earnings
$1,901
Median Rent
$461,200
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 - Residentially zoned triplex with private outdoor areas, dedicated parking, and washer and dryer hookups for each unit.
Where is this triplex located?
The property is located at 5 Highland Avenue Plainville, MA.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: Three‑unit residential property with 3,313 square feet of combined living space; 0.2801‑acre lot with residential zoning designated res; Unit A delivered vacant; Units B and C are each two years old
