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    The Largest CRE Database in the US with Over 1 Million Listings

    17 1St Ave Leominster, MA 01453

    Sponsored
    For Sale
    $522,000

    MULTI_FAMILY - Leominster, MA

    Property size:
    1,890 SF
    Lot size:
    0.34 Acres
    Days on Market:
    6
    Last Refresh:
    Jan 27 at 8:06 am

    Property Features for 17 1St Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RB
    Rooms
    Bedroom 2, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 4
    Bedrooms
    5
    Bathrooms
    2
    Parking
    8
    Size
    1,890 SF
    Lot size
    0.34 Acres

    Building Details

    Year built
    1961
    Floors in Building
    2
    Number of units
    2

    We can help!

    Listing Contact
    Gayle Sabol
    Gayle Sabol

    Keller Williams Realty North Central (978) 840-9000

    Listing agent Rochelle Jonswold

    Listing date Jan 22, 2026

    MLS# 73454709 Listing URL

    Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Leominster Two-Family Home with Garage

    This two-family home, featuring a large, two-car detached garage, is situated in a neighborhood setting on a quiet dead-end street. The property is conveniently located minutes from routes 2 and 190, as well as the train station. The first floor includes an enclosed porch, a white cabinet tiled kitchen updated in 2019 that opens to a large bright living room, one bath, and three bedrooms. One of the bedrooms is currently utilized as a laundry and storage room. The upstairs apartment, suitable as an in-law suite, offers two bedrooms, a kitchen, a living room, a full bath, and a storage room, along with a porch overlooking the private backyard. The property, situated on a 0.3447-acre lot, is made up of two separately deeded lots. The two-car garage, constructed in 2022, includes a second-floor loft providing additional storage space. The property offers 1890 square feet of living space. This property presents a superb investment opportunity as an owner-occupied residence or as a rental property, with the potential to rent out both apartments and the garage separately. The garage loft could be converted into an ADU to increase income potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Leominster
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.739236
    Latitude
    42.519266

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    FAQs

    What type of property is this?
    Duplex - Two-family home with detached garage near routes 2 and 190.
    Where is this duplex located?
    The property is located at 17 1St Ave Leominster, MA.
    What is the asking price?
    The asking price for this property is $522,000.
    What are key features of this property?
    This property features: - Two separately deeded lots offer flexibility and potential for future development or sale.; - **Large, detached 2-car garage (built in 2022) with a 2nd-floor loft provides ample storage or ADU conversion potential.**; - Two-family home with separate apartments, ideal for owner-occupancy with rental income or investment property.
    (978) 860-3617
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    17 1St Ave Leominster, MA 01453
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    Leominster, MA 01453
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    17 1St Ave Leominster, MA 01453
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    We can help!
    Listing Contact
    Gayle Sabol
    Gayle Sabol
    (978) 860-3617
    Learn more
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