Two-Family Home with Rear
For Sale
$390,000
Pending
52 Bancroft St, Gardner, MA 01440
Residential Income, Gardner, MA
Property Size2,608 SF
Lot Size0.18 Acres
Days on Market28
Property Features for 52 Bancroft St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Parking
7
Directions
Off of Park Street, Use GPS
Standard status
Pending
APN
3535769
Size
2,608 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4781
Amenities
rear deck
enclosed porches
off-street parking
garage
walk-up attic
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty North Central
(978) 840-9000
Listed By:
Rochelle Jonswold
(978) 840-9000
Added: Jul 29
Changed: Aug 19
Last Checked: Aug 25 at 9:06PM
MLS# 73556167
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-family home offers two separate residences with spacious layouts. Each unit includes large living rooms and oversized kitchens, along with two bedrooms per unit. Enclosed porches add extra interior space, and a rear deck overlooks the backyard. Additional conveniences include off-street parking and a garage, while the walk-up attic provides excellent storage.
Set on a 0.1763-acre lot, the property was built in 1925 and is zoned R1. It is located near downtown Gardner with access to shopping, restaurants, parks, and major commuter routes.
With generous room sizes and a walk-up attic for storage, the home is positioned for buyers seeking an owner-occupied option or an opportunity to invest with a focus on personalized updates.
Set on a 0.1763-acre lot, the property was built in 1925 and is zoned R1. It is located near downtown Gardner with access to shopping, restaurants, parks, and major commuter routes.
With generous room sizes and a walk-up attic for storage, the home is positioned for buyers seeking an owner-occupied option or an opportunity to invest with a focus on personalized updates.
Key Highlights
- Two‑family configuration with two bedrooms in each unit
- Enclosed porches plus rear deck overlooking the backyard
- Off‑street parking and a garage
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
$30,680
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
7.87%
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%
$613,600
$613.6K
Cap Rate 7%
$438,286
$438.3K
Cap Rate 9%
$340,889
$340.9K
Market Conditions
NOI Build-Up for 2,608 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
$57.3K $21.96/SF
− Vacancy
−$1.5K −$0.57/SF
EGI
$55.8K $21.39/SF
− OpEx
−$25.1K −$9.63/SF
NOI
$30.7K $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%
$613,600
Cap Rate 7%
$438,286
Cap Rate 9%
$340,889
Alternative Uses
Best Use
Apartment 5plus
$438.3K
$383.5K – $511.3K
NOI $30,680 @ 7.0% cap · market cap 7.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$890.6K
$779.3K – $1.04M
NOI $62,342 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
Business Placement
Demographics for 01440, MA
21,577
Population
9,600
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
88%
High-School Grad
24.5 sq mi
ZIP Area
881
Density / Sq Mi
$63,526
Median Household Income
$43,737
Median Earnings
$1,071
Median Rent
$270,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two-family home on a 0.1763-acre lot with enclosed porches, a rear deck, off-street parking, and a garage.
Where is this multifamily property located?
The property is located at 52 Bancroft St Gardner, MA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two‑family configuration with two bedrooms in each unit; Enclosed porches plus rear deck overlooking the backyard; Off‑street parking and a garage
