Two-Family Fixer-Upper Investment
For Sale
$375,000
Pending
72 Phillips St, Hanson, MA 02341
Two-family property needing substantial work, great investment opportunity.
Property Size2,214 SF
Lot Size0.69 Acres
Days on Market279
Property Features for 72 Phillips St
General Information
Standard status
Pending
Size
2,214 SF
Lot size
0.69 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$3,807
Building Details
Building Size
2,214 SF
Year Built
1810
Stories
3
Units
2
Listed By:
Mary Ellen Wilson
(781) 831-2084
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 28
Last Checked: Sep 1 at 10:40PM
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 Mary Ellen Wilson
Investment Insights
Based on property information with market context.
This two-family property presents an investment opportunity. Located less than 2 miles from the commuter rail, the property is set back off the road and includes a large backyard with perennials. The property requires substantial work. Unit 2 features a new natural gas, forced hot water heating system. Separate 100 amp electric services and both natural gas hot water tanks are approximately 4 years old. Both units are tenant-at-will, and the property can be delivered vacant. The property will likely not qualify for most conventional financing methods and is sold AS-IS. The property is priced below market value to reflect the work needed.
Key Highlights
- Priced substantially below market value.
- Great investment opportunity as a two‑family home.
- Located less than 2 miles from the commuter rail.
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
$34,485
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
9.20%
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%
$689,700
$689.7K
Cap Rate 7%
$492,643
$492.6K
Cap Rate 9%
$383,167
$383.2K
Market Conditions
NOI Build-Up for 2,214 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
$66.4K $30.00/SF
− Vacancy
−$3.7K −$1.68/SF
EGI
$62.7K $28.32/SF
− OpEx
−$28.2K −$12.74/SF
NOI
$34.5K $15.58/SF
Area
Plymouth County, MA
Vacancy
5.60%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$689,700
Cap Rate 7%
$492,643
Cap Rate 9%
$383,167
Alternative Uses
Best Use
Multifamily LT 5
$534.5K
$467.7K – $623.6K
NOI $37,417 @ 7.0% cap · market cap 9.98%
Second Best
Apartment 5plus
$492.6K
$431.1K – $574.8K
NOI $34,485 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,748 @ 7.0% cap · market cap 24.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
Explore this area
Business Placement
Demographics for 02341, MA
10,367
Population
4,014
Households
2.6
Avg Household Size
45
Median Age
39%
College-Educated
93%
High-School Grad
14.9 sq mi
ZIP Area
696
Density / Sq Mi
$112,457
Median Household Income
$59,200
Median Earnings
$1,912
Median Rent
$498,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family property needing substantial work, great investment opportunity.
Where is this duplex located?
The property is located at 72 Phillips St Hanson, MA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Priced substantially below market value.; Great investment opportunity as a two‑family home.; Located less than 2 miles from the commuter rail.
