Naïve helper (CD4+) T-cells can differentiate into distinct functional subsets including Th1, Th2, and Th17 phenotypes. Each of these phenotypes has a ‘master regulator’ – T-bet (Th1), GATA3 (Th2) and RORγT (Th17) – that inhibits the other two master regulators. Such mutual repression among them at a transcriptional level can enable multistability, thus enabling the co-existence of six experimentally observed phenotypes – Th1, Th2, Th17 and hybrid Th/Th2, Th2/Th17 and Th1/Th17. However, the dynamics of switching among these phenotypes, particularly in the case of epigenetic influence, remains unclear. Here, through mathematical modeling, we investigated the coupled transcription-epigenetic network dynamics to elucidate how epigenetic changes mediated by these ‘master regulators’ can influence the transition rates among these different phenotypes. Further, we show that the degree of plasticity exhibited by one phenotype depends on relative strength and duration of mutual epigenetic repression mediated among the master regulators. Our model simulations possibly explain the relatively higher plasticity of Th17 phenotype as noticed in vitro and in vivo. Together, our modeling framework characterizes phenotypic plasticity and heterogeneity in a naïve helper (CD4+) T-cell population as an outcome of the emergent dynamics of a three node regulatory network, such as the one mediated by T-bet/GATA3/RORγT.