3-Unit
New
For Sale
$779,000
78 Prospect St, Rockland, MA 02370
Each residence has separate heat and utilities, with a vacant second-floor apartment available for occupancy.
Property Size1,428 SF
Lot Size0.94 Acres
Price / SF$545.52
Days on Market4
Property Features for 78 Prospect St
General Information
Standard status
Active
Size
1,428 SF
Lot size
0.94 Acres
Property subtype
3 Family
Units
Unit Mix
2 x 1BR/studio, 1 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,139
Building Details
Building Size
1,428 SF
Year Built
1900
Buildings
1
Listing Agency:
RE/MAX Realty Pros
Listed By:
Tom McFarland · License #9008924
(617) 328-3200
Source:
Paulgrover
Added: Oct 10
Changed: Oct 13
Last Checked: Oct 12 at 11:11PM
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 RE/MAX Realty Pros
Investment Insights
Based on property information with market context.
Built in 1900, this three-unit property includes two first-floor apartments described as 1-bedroom/studio units and a second-floor, 4-room apartment with 2 bedrooms. The upper residence is vacant. Heating and utilities are separate for each unit.
The property occupies a 41,000+ sq. ft. lot on a side street near downtown, with frontage on Studleys pond.
The property occupies a 41,000+ sq. ft. lot on a side street near downtown, with frontage on Studleys pond.
Key Highlights
- Three apartments: two first‑floor 1‑bedroom/studio units and one second‑floor 2‑bedroom unit
- The vacant second‑floor apartment has 4 rooms
- 41,000+ sq. ft. lot with frontage on Studleys pond
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,134
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$482,680
$482.7K
Cap Rate 7%
$344,771
$344.8K
Cap Rate 9%
$268,156
$268.2K
Market Conditions
NOI Build-Up for 1,428 SF
Gross rent
$36.4K $25.50/SF
− Vacancy
−$1.9K −$1.36/SF
EGI
$34.5K $24.14/SF
− OpEx
−$10.3K −$7.24/SF
NOI
$24.1K $16.90/SF
Area
Plymouth County, MA
Vacancy
5.32%
Lease Rate
$25.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$482,680
Cap Rate 7%
$344,771
Cap Rate 9%
$268,156
Alternative Uses
Best Use
Multifamily LT 5
$344.8K
$301.7K – $402.2K
NOI $24,134 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$317.8K
$278.0K – $370.7K
NOI $22,243 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$845.4K
$739.7K – $986.3K
NOI $59,176 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 02370, MA
17,803
Population
7,046
Households
2.5
Avg Household Size
43
Median Age
34%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
1,780
Density / Sq Mi
$101,475
Median Household Income
$59,489
Median Earnings
$1,497
Median Rent
$452,300
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence has separate heat and utilities, with a vacant second-floor apartment available for occupancy.
Where is this triplex located?
The property is located at 78 Prospect St Rockland, MA.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Three apartments: two first‑floor 1‑bedroom/studio units and one second‑floor 2‑bedroom unit; The vacant second‑floor apartment has 4 rooms; 41,000+ sq. ft. lot with frontage on Studleys pond
