Building Details

Year built 1900

Floors in Building 3

Number of units 3

Listing Agency: RE/MAX Realty Pros · RE/MAX International Show Phone

Listed By: John Cummings Show Phone

Added: Oct 10 Last Checked: Oct 10 at 2:06PM

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MLS# 73589254

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Investment Insights

Based on property information with market context.

This three-unit residential property was built in 1900 and contains 1,428 square feet. The first floor has two units described as one-bedroom/studio apartments; the second-floor unit has four rooms and two bedrooms and is vacant. Each unit has separate heat and utilities.

The property occupies 0.96 acres on a side street near downtown Rockland, with frontage on Studleys Pond.

Key Highlights

• Three units: two first‑floor one‑bedroom/studio apartments and a four‑room, two‑bedroom unit upstairs
• Vacant second‑floor apartment
• 1,428‑square‑foot building on 0.96 acres

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 (±1% cap)

NOI $24,134 @ 7.0% cap · market cap 3.10%

Second Best

Apartment 5plus

$317.8K

$278.0K – $370.7K (±1% cap)

NOI $22,243 @ 7.0% cap · market cap 2.86%

Theoretical Best

Office A

$845.4K

$739.7K – $986.3K (±1% cap)

NOI $59,176 @ 7.0% cap · market cap 7.60%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Electrical Service Daycare Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Yes

Utilities to site

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three separately heated units include a vacant upper-floor apartment with two bedrooms.

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 units: two first‑floor one‑bedroom/studio apartments and a four‑room, two‑bedroom unit upstairs; Vacant second‑floor apartment; 1,428‑square‑foot building on 0.96 acres