Two-Unit Duplex with Walk-Up
For Sale
$574,900
155 Pond St, Leominster, MA 01453
Duplex offers two bedrooms per unit, separate utilities, and a walk-up attic with room to expand.
Property Size1,716 SF
Price / SF$335.02
Days on Market40
Property Features for 155 Pond St
General Information
Standard status
Active
Size
1,716 SF
Total Parking Spaces
7
Property subtype
Residential Income
Zoning
RB
Net Operating Income
$48,000
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$5,788
Amenities
irrigation
fire pit
laundry hook-ups
Building Details
Building Size
1,716 SF
Year Built
1906
Buildings
1
Listing Agency:
Coldwell Banker Realty - Leominster
Listed By:
Carey Carmisciano · License #456014264
(617) 823-8246
Source:
413realestate
Added: Jul 30
Changed: Sep 6
Last Checked: Sep 6 at 4:22AM
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 - Leominster
Investment Insights
Based on property information with market context.
This two-unit duplex provides two bedrooms in each unit, with updated bathrooms and large kitchens. The first-floor unit has been owner occupied for over 20 years, and the entire home has been well cared for. The second-floor layout includes an option for a third bedroom, along with access to a walk-up attic that supports future expansion. Forced air ductwork is already in place, offering the option to add cooling, and laundry hook-ups are available in the first-floor unit as well as the basement.
The property is set on a lot with irrigation and includes a large driveway, a detached garage, and a fire pit. Utilities are separately metered, which can simplify tenant billing and unit operations.
Built in 1906, this home combines classic structure with practical updates and expansion possibilities for a buyer or tenant seeking a two-family setup.
The property is set on a lot with irrigation and includes a large driveway, a detached garage, and a fire pit. Utilities are separately metered, which can simplify tenant billing and unit operations.
Built in 1906, this home combines classic structure with practical updates and expansion possibilities for a buyer or tenant seeking a two-family setup.
Key Highlights
- Two bedrooms per unit with updated bathrooms and large kitchens
- Second‑floor offers option for a third bedroom plus access to a walk‑up attic
- Over 20 years owner occupancy in the first‑floor unit
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
$23,196
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
4.03%
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%
$463,920
$463.9K
Cap Rate 7%
$331,371
$331.4K
Cap Rate 9%
$257,733
$257.7K
Market Conditions
NOI Build-Up for 1,716 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
$34.0K $19.80/SF
− Vacancy
−$839 −$0.49/SF
EGI
$33.1K $19.31/SF
− OpEx
−$9.9K −$5.79/SF
NOI
$23.2K $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%
$463,920
Cap Rate 7%
$331,371
Cap Rate 9%
$257,733
Alternative Uses
Best Use
Multifamily LT 5
$331.4K
$290.0K – $386.6K
NOI $23,196 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$288.4K
$252.3K – $336.5K
NOI $20,187 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$586.0K
$512.7K – $683.7K
NOI $41,019 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,063
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 - Duplex offers two bedrooms per unit, separate utilities, and a walk-up attic with room to expand.
Where is this duplex located?
The property is located at 155 Pond St Leominster, MA.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Two bedrooms per unit with updated bathrooms and large kitchens; Second‑floor offers option for a third bedroom plus access to a walk‑up attic; Over 20 years owner occupancy in the first‑floor unit
