2-Unit Duplex with Private
For Sale
$565,000
Pending
10 Epping St., Millbury, MA 01527
Two vacant residences offer a flexible owner-occupant or investor configuration with separate driveways and basement utility space.
Property Size2,352 SF
Days on Market145
Property Features for 10 Epping St.
General Information
Standard status
Pending
Size
2,352 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
unk
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
stainless steel appliances
island
hardwood flooring
basement
half bath
private yard
fire pit
Building Details
Building Size
2,352 SF
Year Built
1930
Buildings
1
Stories
2
Listing Agency:
RE/MAX Generations
Listed By:
Monique Frigon
Source:
Cjbarrett
Added: Apr 8
Changed: Aug 29
Last Checked: May 28 at 5:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Generations
Investment Insights
Based on property information with market context.
This 1930-built duplex contains two separate residences, each with two bedrooms and one full bathroom. The property provides 2,352 square feet of living space, with both units scheduled for delivery vacant at closing. Interior features include stainless steel appliances and an island in the first-floor kitchen, hardwood flooring in the living room, and a basement with utility, storage, additional flexible space, and a half bath.
Exterior features include a private yard with a fire pit and separate driveways. The property is positioned in a neighborhood setting with commuter access to major highways, supporting both owner-occupant and investor use as described for the offering.
Exterior features include a private yard with a fire pit and separate driveways. The property is positioned in a neighborhood setting with commuter access to major highways, supporting both owner-occupant and investor use as described for the offering.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bath in each unit
- Both units delivered vacant at closing
- 2,352 square feet 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
$31,794
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
5.63%
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%
$635,880
$635.9K
Cap Rate 7%
$454,200
$454.2K
Cap Rate 9%
$353,267
$353.3K
Market Conditions
NOI Build-Up for 2,352 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
$46.6K $19.80/SF
− Vacancy
−$1.2K −$0.49/SF
EGI
$45.4K $19.31/SF
− OpEx
−$13.6K −$5.79/SF
NOI
$31.8K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /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%
$635,880
Cap Rate 7%
$454,200
Cap Rate 9%
$353,267
Alternative Uses
Best Use
Multifamily LT 5
$454.2K
$397.4K – $529.9K
NOI $31,794 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$395.3K
$345.9K – $461.2K
NOI $27,669 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$803.2K
$702.8K – $937.0K
NOI $56,222 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
Explore this area
Business Placement
Demographics for 01527, MA
13,799
Population
5,603
Households
2.5
Avg Household Size
44
Median Age
33%
College-Educated
94%
High-School Grad
15.6 sq mi
ZIP Area
885
Density / Sq Mi
$116,000
Median Household Income
$62,911
Median Earnings
$1,507
Median Rent
$415,600
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 vacant residences offer a flexible owner-occupant or investor configuration with separate driveways and basement utility space.
Where is this duplex located?
The property is located at 10 Epping St. Millbury, MA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bath in each unit; Both units delivered vacant at closing; 2,352 square feet of living space
