Two-Family Fixer-Upper Investment
For Sale
$375,000
Pending
72 Phillips Street, Hanson, MA 02341
Two-family property needing substantial work, great investment opportunity.
Property Size2,214 SF
Days on Market506
Property Features for 72 Phillips Street
General Information
Standard status
Pending
Size
2,214 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,807
Building Details
Year Built
1810
Listing Agency:
HomeSmart First Class Realty
(508) 927-1211
Listed By:
Mary Ellen Wilson
(781) 831-2084
Source:
Exitrealty
Added: May 31, 2025
Changed: Oct 7
Last Checked: Oct 7 at 9:37AM
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 HomeSmart First Class Realty
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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 / Yr
$34,485
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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 Street 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.
