Two-Family Duplex with
For Sale
$389,900
Pending
103 Ash Street, Gardner, MA 01440
Two distinct residences offer separate entrances, kitchen and bath facilities, plus shared garage and storage space.
Property Size2,177 SF
Days on Market50
Property Features for 103 Ash Street
General Information
Standard status
Pending
Size
2,177 SF
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Multifamily Units
2
Building Details
Building Size
2,177 SF
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
RE/MAX Vision
(978) 847-0800
Listed By:
Brenda Cormier · License #H7520747
(978) 621-4727
Source:
Iverty
Added: Sep 10
Changed: Oct 29
Last Checked: Oct 28 at 7:53AM
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 Vision
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Investment Insights
Based on property information with market context.
This duplex contains 2,177 square feet of living area across two separately entered residences. The first-floor unit includes three bedrooms, an eat-in kitchen, laundry room, full bath with walk-in tub, and a living room with vaulted ceiling, skylights, and ceiling fan. A deck extends from the kitchen. The upper residence offers two or three bedrooms, a full bath with laundry hookups, an eat-in kitchen with peninsula, and a vaulted living room with skylight and ceiling fan.
The property includes more than half an acre at 103 Ash Street in Gardner, Massachusetts. A two-stall garage provides space for one vehicle along with a workshop or storage area. Built in 1900, the layout supports two-family residential use with distinct entrances and separate living areas.
The property includes more than half an acre at 103 Ash Street in Gardner, Massachusetts. A two-stall garage provides space for one vehicle along with a workshop or storage area. Built in 1900, the layout supports two-family residential use with distinct entrances and separate living areas.
Key Highlights
- 2,177 square feet of living area
- More than half an acre of land
- Two separately entered residential units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,428
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,560
$588.6K
Cap Rate 7%
$420,400
$420.4K
Cap Rate 9%
$326,978
$327.0K
Market Conditions
NOI Build-Up for 2,177 SF
Gross rent
$43.1K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$42.0K $19.31/SF
− OpEx
−$12.6K −$5.79/SF
NOI
$29.4K $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 Rate 5%
$588,560
Cap Rate 7%
$420,400
Cap Rate 9%
$326,978
Alternative Uses
Best Use
Multifamily LT 5
$420.4K
$367.9K – $490.5K
NOI $29,428 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$365.9K
$320.1K – $426.8K
NOI $25,610 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$743.4K
$650.5K – $867.3K
NOI $52,039 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences offer separate entrances, kitchen and bath facilities, plus shared garage and storage space.
Where is this duplex located?
The property is located at 103 Ash Street Gardner, MA.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 2,177 square feet of living area; More than half an acre of land; Two separately entered residential units
