Duplex With Off-Street
For Sale
Under Contract
$335,000
48 Litchfield Ave, Southbridge, MA 01550
Residential Income, Southbridge, MA
Property Size2,296 SF
Lot Size0.17 Acres
Price / SF$145.91
Days on Market18
Property Features for 48 Litchfield Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 3, Bedroom 4
Parking
4
Elementary school
Dept Of Ed
Middle school
Dept Of Ed
High school
Dept Of Ed
Directions
GPS
Standard status
Active Under Contract
APN
M:0052 B:0041 L:00001,3979321
Size
2,296 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5112
Building Details
Year built
1917
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Prof Associates · RE/MAX International
Listed By:
Lorraine Herbert
(508) 347-9595
Added: Aug 17
Changed: Aug 25
Last Checked: Sep 3 at 11:06AM
MLS# 73564726
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.
Investment Insights
Based on property information with market context.
This two-unit property contains 2,296 square feet on a 0.17-acre lot and was built in 1917. The first-floor apartment is expected to be vacant at closing and includes hardwood flooring, an updated pantry, and a tiled bathroom. The second-floor unit has a natural gas furnace installed recently and is occupied by a tenant who has remained in place for 9 years under an at-will tenancy.
The property includes off-street parking and natural gas utilities. R2 zoning applies. It is situated near a hospital and a conservation area with walking and biking trails. The sale is subject to the property’s as-is condition.
The property includes off-street parking and natural gas utilities. R2 zoning applies. It is situated near a hospital and a conservation area with walking and biking trails. The sale is subject to the property’s as-is condition.
Key Highlights
- 2,296‑square‑foot duplex on a 0.17‑acre lot
- First‑floor unit expected to be vacant at closing
- Second‑floor tenant in place for 9 years under an at‑will tenancy
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
$27,010
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
8.06%
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%
$540,200
$540.2K
Cap Rate 7%
$385,857
$385.9K
Cap Rate 9%
$300,111
$300.1K
Market Conditions
NOI Build-Up for 2,296 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
$50.4K $21.96/SF
− Vacancy
−$1.3K −$0.57/SF
EGI
$49.1K $21.39/SF
− OpEx
−$22.1K −$9.63/SF
NOI
$27.0K $11.76/SF
Area
Worcester County, MA
Vacancy
2.60%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$540,200
Cap Rate 7%
$385,857
Cap Rate 9%
$300,111
Alternative Uses
Best Use
Multifamily LT 5
$443.4K
$388.0K – $517.3K
NOI $31,037 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$385.9K
$337.6K – $450.2K
NOI $27,010 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$784.1K
$686.1K – $914.7K
NOI $54,884 @ 7.0% cap · market cap 16.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
Explore this area
Business Placement
Demographics for 01550, MA
17,740
Population
7,644
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
82%
High-School Grad
20.2 sq mi
ZIP Area
878
Density / Sq Mi
$59,397
Median Household Income
$41,365
Median Earnings
$1,157
Median Rent
$267,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with one vacant apartment, an existing second-floor tenancy, and R2 zoning.
Where is this duplex located?
The property is located at 48 Litchfield Ave Southbridge, MA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 2,296‑square‑foot duplex on a 0.17‑acre lot; First‑floor unit expected to be vacant at closing; Second‑floor tenant in place for 9 years under an at‑will tenancy
