Duplex With Separate-Entry
New
For Sale
$544,900
101 Long Hill Drive, Leominster, MA 01453
The property combines a primary residence with a separately accessed in-law apartment and flexible outdoor space.
Property Size1,806 SF
Price / SF$301.72
Days on Market5
Property Features for 101 Long Hill Drive
General Information
Standard status
Active
Size
1,806 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
fireplace
hardwood floors
mini splits
pellet stove
fenced backyard
composite & wood decks
Building Details
Year Built
1986
Buildings
1
Listing Agency:
Keller Williams Realty North Central
Listed By:
Joseph Paoletti
(617) 396-3100
Source:
Longwoodresidential
Added: Sep 12
Changed: Sep 15
Last Checked: Sep 15 at 7:43AM
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 Keller Williams Realty North Central
Investment Insights
Based on property information with market context.
Built in 1986, this 1,806-square-foot duplex offers a four-bedroom, 2.5-bath configuration with a primary bedroom and two additional bedrooms on the main level. Interior features include an eat-in kitchen, living room fireplace, hardwood flooring, and mini-split systems. A separate-entry in-law apartment adds an open layout with its own bedroom and full bath.
The basement includes a pellet stove and can accommodate additional living or recreation space. Outside, the fenced backyard features both composite and wood decks. The property is located at 101 Long Hill Drive in Leominster, near local amenities, shopping, restaurants, and major routes.
The basement includes a pellet stove and can accommodate additional living or recreation space. Outside, the fenced backyard features both composite and wood decks. The property is located at 101 Long Hill Drive in Leominster, near local amenities, shopping, restaurants, and major routes.
Key Highlights
- 1,806‑square‑foot duplex built in 1986
- Four‑bedroom, 2.5‑bath layout
- Separate‑entry in‑law apartment with bedroom and full bath
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
$24,413
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
4.48%
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%
$488,260
$488.3K
Cap Rate 7%
$348,757
$348.8K
Cap Rate 9%
$271,256
$271.3K
Market Conditions
NOI Build-Up for 1,806 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
$35.8K $19.80/SF
− Vacancy
−$883 −$0.49/SF
EGI
$34.9K $19.31/SF
− OpEx
−$10.5K −$5.79/SF
NOI
$24.4K $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%
$488,260
Cap Rate 7%
$348,757
Cap Rate 9%
$271,256
Alternative Uses
Best Use
Multifamily LT 5
$348.8K
$305.2K – $406.9K
NOI $24,413 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$303.5K
$265.6K – $354.1K
NOI $21,246 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$616.7K
$539.6K – $719.5K
NOI $43,171 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Explore this area
Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - The property combines a primary residence with a separately accessed in-law apartment and flexible outdoor space.
Where is this duplex located?
The property is located at 101 Long Hill Drive Leominster, MA.
What is the asking price?
The asking price for this property is $544,900.
What are key features of this property?
This property features: 1,806‑square‑foot duplex built in 1986; Four‑bedroom, 2.5‑bath layout; Separate‑entry in‑law apartment with bedroom and full bath
