Four-Bedroom Duplex with In-Law
New
For Sale
$544,900
101 Long Hill Dr, Leominster, MA 01453
Residential Income, Leominster, MA
Property Size1,806 SF
Lot Size0.38 Acres
Price / SF$301.72
Days on Market3
Property Features for 101 Long Hill Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1
Parking
7
Fireplace
1
Elementary school
Leominster Public Schools
Middle school
Leominster Public Schools
High school
Leominster High School
Directions
Pleasant St to Peach Tree Lane to Long Hill Drive
Standard status
Active
APN
M:0406 B:0048 L:0000,1584737
Size
1,806 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7342
Amenities
fireplace
hardwood floors
mini splits
pellet stove
fenced-in backyard
decks
Building Details
Year built
1986
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty North Central
(978) 840-9000
Listed By:
Rochelle Jonswold
(978) 860-3609
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 13 at 11:06PM
MLS# 73576204
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 1,806-square-foot duplex, built in 1986, offers four bedrooms and 2.5 bathrooms across its primary residence and separate-entry in-law apartment. The main living area includes an eat-in kitchen, living room with fireplace, hardwood flooring, mini-split systems, a primary bedroom, two additional bedrooms, and a full bathroom. The additional apartment provides an open layout with its own bedroom and full bath.
A basement with a pellet stove provides additional interior space for uses such as a family room or recreation area. Outside, the 0.3763-acre property includes a fenced backyard with composite and wood decks. The property is zoned RA and is located near shopping, restaurants, local amenities, and major routes.
A basement with a pellet stove provides additional interior space for uses such as a family room or recreation area. Outside, the 0.3763-acre property includes a fenced backyard with composite and wood decks. The property is zoned RA and is located near shopping, restaurants, local amenities, and major routes.
Key Highlights
- Four‑bedroom duplex with 2.5 bathrooms
- Separate‑entry in‑law apartment with bedroom and full bath
- 1,806 square feet on a 0.3763‑acre lot
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Separate-entry apartment and fenced outdoor areas support flexible residential use.
Where is this duplex located?
The property is located at 101 Long Hill Dr 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: Four‑bedroom duplex with 2.5 bathrooms; Separate‑entry in‑law apartment with bedroom and full bath; 1,806 square feet on a 0.3763‑acre lot
