Updated Duplex
New
For Sale
$369,900
12 Middleton St, Millbury, MA 01527
Residential Income, Millbury, MA
Property Size1,280 SF
Lot Size0.50 Acres
Price / SF$288.98
Days on Market2
Property Features for 12 Middleton St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
res
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1
Parking
4
Directions
Route 122 to Middleton St
Standard status
Active
APN
M:0006 B:0124 L:0000,3578548
Size
1,280 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4457
Building Details
Year built
1920
Floors in Building
3
Number of units
2
Listing Agency:
REMAX Executive Realty · RE/MAX International
(508) 839-9219
Listed By:
Bill Wright · License #5503
(508) 223-7200
Added: Sep 23
Last Checked: Sep 24 at 2:06PM
MLS# 73581549
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 1920 duplex residence contains 1,280 square feet on a 21,789-square-foot lot in Millbury. The second floor offers two bedrooms with skylights, while the first floor includes an eat-in kitchen with built-in hutch, a family room with beamed ceiling and built-in shelving, an updated bay window, and a remodeled full bath. An additional first-floor bedroom, kitchenette, full bath, and built-in storage provide a distinct secondary living arrangement. The home is currently occupied as a single-family residence and is zoned residential.
Recent updates include a furnace installed in 2022, a hot water tank from 2023, exterior painting in 2025, a side entrance porch in 2026, and updated Harvey windows. The property is located near the Mass Pike, Routes 20, 290, and 495, as well as the N. Grafton commuter train.
Recent updates include a furnace installed in 2022, a hot water tank from 2023, exterior painting in 2025, a side entrance porch in 2026, and updated Harvey windows. The property is located near the Mass Pike, Routes 20, 290, and 495, as well as the N. Grafton commuter train.
Key Highlights
- Duplex classification with 1,280 square feet of living area
- 21,789‑square‑foot lot in Millbury
- Two second‑floor bedrooms with skylights
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
$17,303
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
4.68%
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%
$346,060
$346.1K
Cap Rate 7%
$247,186
$247.2K
Cap Rate 9%
$192,256
$192.3K
Market Conditions
NOI Build-Up for 1,280 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
$25.3K $19.80/SF
− Vacancy
−$626 −$0.49/SF
EGI
$24.7K $19.31/SF
− OpEx
−$7.4K −$5.79/SF
NOI
$17.3K $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%
$346,060
Cap Rate 7%
$247,186
Cap Rate 9%
$192,256
Alternative Uses
Best Use
Multifamily LT 5
$247.2K
$216.3K – $288.4K
NOI $17,303 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$215.1K
$188.2K – $251.0K
NOI $15,058 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$437.1K
$382.5K – $510.0K
NOI $30,597 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
223
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
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 - Two-level residence with separate first-floor living accommodations, updated systems, and residential zoning.
Where is this duplex located?
The property is located at 12 Middleton St Millbury, MA.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Duplex classification with 1,280 square feet of living area; 21,789‑square‑foot lot in Millbury; Two second‑floor bedrooms with skylights
