Two-Unit Duplex with
For Sale
$449,900
110 5th St, Leominster, MA 01453
Two apartments offer updated systems, private outdoor space, and convenient in-town access.
Property Size2,336 SF
Price / SF$192.59
Days on Market21
Property Features for 110 5th St
General Information
Standard status
Active
Size
2,336 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,756
Listing Agency:
Coldwell Banker Realty - Worcester
(508) 612-2658
Listed By:
Paul Murphy · License #453004229
(508) 612-2658
Source:
Exprealty
Added: Jul 21
Changed: Aug 10
Last Checked: Aug 10 at 4:33AM
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 Coldwell Banker Realty - Worcester
Investment Insights
Based on property information with market context.
This 2,336-square-foot duplex contains two apartments, each arranged with two bedrooms and comfortable living areas. Updated systems provide a current foundation, while the interiors leave room for cosmetic personalization. The property also includes a two-car garage and additional off-street parking.
Located in-town, the residence benefits from sidewalks and access to local amenities. A fully fenced backyard adds private outdoor space, complementing the practical layout and residential setting. The two-unit configuration supports a range of owner-occupant or rental strategies, subject to applicable requirements.
Located in-town, the residence benefits from sidewalks and access to local amenities. A fully fenced backyard adds private outdoor space, complementing the practical layout and residential setting. The two-unit configuration supports a range of owner-occupant or rental strategies, subject to applicable requirements.
Key Highlights
- 2,336 SF duplex with two separate apartments
- Each apartment includes two bedrooms
- Updated systems throughout the property
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
$31,577
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
7.02%
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%
$631,540
$631.5K
Cap Rate 7%
$451,100
$451.1K
Cap Rate 9%
$350,856
$350.9K
Market Conditions
NOI Build-Up for 2,336 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
$46.3K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$45.1K $19.31/SF
− OpEx
−$13.5K −$5.79/SF
NOI
$31.6K $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%
$631,540
Cap Rate 7%
$451,100
Cap Rate 9%
$350,856
Alternative Uses
Best Use
Multifamily LT 5
$451.1K
$394.7K – $526.3K
NOI $31,577 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$392.6K
$343.5K – $458.0K
NOI $27,481 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$797.7K
$698.0K – $930.7K
NOI $55,840 @ 7.0% cap · market cap 12.41%
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
999
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
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 apartments offer updated systems, private outdoor space, and convenient in-town access.
Where is this duplex located?
The property is located at 110 5th St Leominster, MA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 2,336 SF duplex with two separate apartments; Each apartment includes two bedrooms; Updated systems throughout the property
