Under-Construction
For Sale
$1,438,000
65 Dunstable Rd, Chelmsford, MA 01863
Residential Income, Chelmsford, MA
Property Size4,738 SF
Lot Size0.32 Acres
Price / SF$303.50
Days on Market30
Property Features for 65 Dunstable Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
CD
Bedrooms
4
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 5, Bedroom 4, Bathroom 4, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 6, Bedroom 2, Bathroom 2
Parking
8
Fireplace
1
Elementary school
Harrington Elementry School
High school
Chelmsford High School
Directions
Dunstable Rd & Rogers Rd
Standard status
Active
APN
5165728
Size
4,738 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2026
Amenities
private deck
in-unit laundry
covered patio
Building Details
Year built
2026
Number of units
2
Listing Agency:
REMAX Andrew Realty Services · RE/MAX International
(781) 395-7676
Listed By:
John Veneziano
(617) 840-5499
Added: Aug 7
Changed: Sep 4
Last Checked: Sep 5 at 5:06AM
MLS# 73560936
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 duplex is under construction with 4,738 square feet across two separately deeded condominium units. Each residence spans four levels and includes two bedrooms, an open kitchen, dining and living area, flexible bonus rooms, in-unit laundry, an attached one-car garage, a private deck, and a covered patio. Fireplaces are also included in the property design.
Set on a 0.32-acre parcel in Chelmsford, Massachusetts, the property carries CD zoning and is scheduled for completion in 2026. The condominium configuration supports separate ownership of each unit, while the two-home layout also accommodates leasing both residences or occupying one unit while using the other for rental income.
Set on a 0.32-acre parcel in Chelmsford, Massachusetts, the property carries CD zoning and is scheduled for completion in 2026. The condominium configuration supports separate ownership of each unit, while the two-home layout also accommodates leasing both residences or occupying one unit while using the other for rental income.
Key Highlights
- Duplex with 2 separately deeded condominium units
- 4,738 square feet on a 0.32‑acre parcel
- Each unit includes 2 bedrooms and four levels of living space
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
$100,258
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
6.97%
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%
$2,005,160
$2.0M
Cap Rate 7%
$1,432,257
$1.4M
Cap Rate 9%
$1,113,978
$1.1M
Market Conditions
NOI Build-Up for 4,738 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
$150.7K $31.80/SF
− Vacancy
−$7.4K −$1.57/SF
EGI
$143.2K $30.23/SF
− OpEx
−$43.0K −$9.07/SF
NOI
$100.3K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
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%
$2,005,160
Cap Rate 7%
$1,432,257
Cap Rate 9%
$1,113,978
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.25M – $1.67M
NOI $100,258 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,270 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,342 @ 7.0% cap · market cap 13.65%
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
517
Businesses Nearby
Explore this area
Business Placement
Demographics for 01863, MA
9,536
Population
3,677
Households
2.6
Avg Household Size
44
Median Age
49%
College-Educated
97%
High-School Grad
4.5 sq mi
ZIP Area
2,119
Density / Sq Mi
$136,284
Median Household Income
$67,005
Median Earnings
$1,698
Median Rent
$477,900
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?
Duplex - Two separately deeded condominium units offer flexible ownership and occupancy options.
Where is this duplex located?
The property is located at 65 Dunstable Rd Chelmsford, MA.
What is the asking price?
The asking price for this property is $1,438,000.
What are key features of this property?
This property features: Duplex with 2 separately deeded condominium units; 4,738 square feet on a 0.32‑acre parcel; Each unit includes 2 bedrooms and four levels of living space
