Remodeled Triplex with
For Sale
$949,000
767 North Montello Street, Brockton, MA 02301
Side-by-side multifamily property near a commuter rail station with off-street parking and substantial basement storage.
Property Size2,829 SF
Price / SF$335.45
Days on Market194
Property Features for 767 North Montello Street
General Information
Standard status
Active
Size
2,829 SF
Total Parking Spaces
6
Property subtype
Multi-family / 3 Family - 3 Units Side by Side
Zoning
C2
Net Operating Income
$32,400
Units
Unit Mix
1 x 4BR/2BA, 2 x 3BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,604
Amenities
City/Town Sewer, Public
No
4.0
Full
4
4.00
Building Details
Year Built
1900
Listing Agency:
William Raveis R.E. & Home Services
(781) 659-6650
Listed By:
Michael Shea · License #9036258
(781) 659-6650
Source:
Compass
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 6:28PM
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 William Raveis R.E. & Home Services
Investment Insights
Based on property information with market context.
This C2-zoned triplex at 767 North Montello Street contains 2,829 square feet, ten bedrooms, and four full baths. The property was built in 1900 and is arranged as three side-by-side units, each with a full basement. Off-street parking is included.
The first unit has been remodeled with new hardwood flooring and butcher block countertops and includes four bedrooms and two full baths. The other two units each offer three bedrooms. Two units are expected to be delivered vacant. The property is adjacent to a commuter rail station, with a 37-minute T ride to South Station.
The first unit has been remodeled with new hardwood flooring and butcher block countertops and includes four bedrooms and two full baths. The other two units each offer three bedrooms. Two units are expected to be delivered vacant. The property is adjacent to a commuter rail station, with a 37-minute T ride to South Station.
Key Highlights
- Three‑unit side‑by‑side multifamily property with 2,829 square feet
- Ten bedrooms and four full baths across the property
- Each unit includes a full basement; off‑street parking is provided
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
$48,793
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
5.14%
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%
$975,860
$975.9K
Cap Rate 7%
$697,043
$697.0K
Cap Rate 9%
$542,144
$542.1K
Market Conditions
NOI Build-Up for 2,829 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
$73.0K $25.80/SF
− Vacancy
−$3.3K −$1.16/SF
EGI
$69.7K $24.64/SF
− OpEx
−$20.9K −$7.39/SF
NOI
$48.8K $17.25/SF
Area
Brockton, MA
Vacancy
4.50%
Lease Rate
$25.80 /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%
$975,860
Cap Rate 7%
$697,043
Cap Rate 9%
$542,144
Alternative Uses
Best Use
Multifamily LT 5
$697.0K
$609.9K – $813.2K
NOI $48,793 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$617.0K
$539.9K – $719.8K
NOI $43,189 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,185 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 02301, MA
69,418
Population
24,592
Households
2.8
Avg Household Size
37
Median Age
22%
College-Educated
81%
High-School Grad
12.4 sq mi
ZIP Area
5,598
Density / Sq Mi
$72,727
Median Household Income
$43,588
Median Earnings
$1,566
Median Rent
$414,200
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 - Side-by-side multifamily property near a commuter rail station with off-street parking and substantial basement storage.
Where is this triplex located?
The property is located at 767 North Montello Street Brockton, MA.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Three‑unit side‑by‑side multifamily property with 2,829 square feet; Ten bedrooms and four full baths across the property; Each unit includes a full basement; off‑street parking is provided
