Owner-Occupied Two-Family
For Sale
$1,200,000
Pending
18 Shears St, Wrentham, MA 02093
Two-family property with a main house and a single-story in-law suite, both including newly renovated bathrooms.
Property Size4,176 SF
Days on Market37
Property Features for 18 Shears St
General Information
Standard status
Pending
Size
4,176 SF
Total Parking Spaces
9
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$9,560
Building Details
Building Size
4,176 SF
Year Built
1910
Listing Agency:
Gibson Sotheby's International Realty
(413) 717-0635
Listed By:
Will Rigdon
Source:
Classifiedrealtygroup
Added: Jul 20
Changed: Aug 23
Last Checked: Jul 24 at 5:13AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This owner-occupied two-family home offers a distinctive layout with two separate living areas. The larger home is centered around a custom chef’s kitchen and includes four bedrooms, three newly renovated bathrooms, and a fifth flex room suitable for an additional bed or office. The single-story in-law suite provides one bedroom, one newly renovated bathroom, and a flex room that can also serve as an additional bed or office.
The property also features a massive shared basement with high ceilings. Outdoors, the backyard includes a koi pond, basketball court, fire pit, and extensive green space.
Both residences have been cared for by the same family for more than 20 years, and the home is positioned for a new owner seeking a multi-unit setup with an in-law configuration. The custom kitchen appliances include a gas Thermador stove, Thermador dishwasher, and Sub-Zero refrigerator.
The property also features a massive shared basement with high ceilings. Outdoors, the backyard includes a koi pond, basketball court, fire pit, and extensive green space.
Both residences have been cared for by the same family for more than 20 years, and the home is positioned for a new owner seeking a multi-unit setup with an in-law configuration. The custom kitchen appliances include a gas Thermador stove, Thermador dishwasher, and Sub-Zero refrigerator.
Key Highlights
- 1910 owner‑occupied two‑family home with a 2,960 sqft main house and a 1,216 sqft single‑story in‑law suite
- Main house features 4 beds and 3 newly renovated baths plus a 5th flex room for a bed or office
- Custom chef’s kitchen includes gas Thermador stove, Thermador dishwasher, and Sub‑Zero refrigerator
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
$74,806
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
6.23%
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%
$1,496,120
$1.5M
Cap Rate 7%
$1,068,657
$1.1M
Cap Rate 9%
$831,178
$831.2K
Market Conditions
NOI Build-Up for 4,176 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
$112.8K $27.00/SF
− Vacancy
−$5.9K −$1.41/SF
EGI
$106.9K $25.59/SF
− OpEx
−$32.1K −$7.68/SF
NOI
$74.8K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$1,496,120
Cap Rate 7%
$1,068,657
Cap Rate 9%
$831,178
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$935.1K – $1.25M
NOI $74,806 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$986.0K
$862.8K – $1.15M
NOI $69,021 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $173,052 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 02093, MA
12,178
Population
4,656
Households
2.6
Avg Household Size
45
Median Age
54%
College-Educated
93%
High-School Grad
21.7 sq mi
ZIP Area
561
Density / Sq Mi
$147,930
Median Household Income
$76,743
Median Earnings
$1,046
Median Rent
$599,500
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-family property with a main house and a single-story in-law suite, both including newly renovated bathrooms.
Where is this duplex located?
The property is located at 18 Shears St Wrentham, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 1910 owner‑occupied two‑family home with a 2,960 sqft main house and a 1,216 sqft single‑story in‑law suite; Main house features 4 beds and 3 newly renovated baths plus a 5th flex room for a bed or office; Custom chef’s kitchen includes gas Thermador stove, Thermador dishwasher, and Sub‑Zero refrigerator
