Duplex with Enclosed
For Sale
$390,000
Pending
52 Bancroft St, Gardner, MA 01440
Two apartments offer generous room sizes, off-street parking, a garage, and additional enclosed porch space.
Property Size2,608 SF
Days on Market39
Property Features for 52 Bancroft St
General Information
Standard status
Pending
Size
2,608 SF
Total Parking Spaces
7
Property subtype
Multi Family Home
Zoning
R1
Taxes and HOA fees
Annual Taxes
$4,781
Amenities
enclosed porches
rear deck
walk-up attic
Building Details
Building Size
2,608 SF
Year Built
1925
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty North Central
(978) 840-9000
Listed By:
Tina Landry
(508) 797-2343
Source:
Janicemitchellre
Added: Jul 30
Changed: Aug 23
Last Checked: Aug 16 at 5:43AM
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 Keller Williams Realty North Central
Investment Insights
Based on property information with market context.
This two-family duplex at 52 Bancroft St includes two apartments, each with two bedrooms, a large living room, an oversized kitchen, and an enclosed porch providing additional space. Generous room sizes support an owner-occupied arrangement or continued use as a two-unit property. A rear deck overlooks the backyard, while off-street parking and a garage add convenience. The walk-up attic provides storage, and the property was built in 1925.
The home is located near downtown Gardner, shopping, restaurants, parks, and major commuter routes. The surrounding area is car-dependent, with a Walk Score of 14 and a Bike Score of 19, classified as Somewhat Bikeable.
The home is located near downtown Gardner, shopping, restaurants, parks, and major commuter routes. The surrounding area is car-dependent, with a Walk Score of 14 and a Bike Score of 19, classified as Somewhat Bikeable.
Key Highlights
- Two‑family duplex with two apartments, each offering two bedrooms
- Large living rooms and oversized kitchens in both apartments
- Enclosed porches provide additional space
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
$35,254
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
9.04%
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%
$705,080
$705.1K
Cap Rate 7%
$503,629
$503.6K
Cap Rate 9%
$391,711
$391.7K
Market Conditions
NOI Build-Up for 2,608 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
$51.6K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$50.4K $19.31/SF
− OpEx
−$15.1K −$5.79/SF
NOI
$35.3K $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%
$705,080
Cap Rate 7%
$503,629
Cap Rate 9%
$391,711
Alternative Uses
Best Use
Multifamily LT 5
$503.6K
$440.7K – $587.6K
NOI $35,254 @ 7.0% cap · market cap 9.04%
Second Best
Apartment 5plus
$438.3K
$383.5K – $511.3K
NOI $30,680 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$890.6K
$779.3K – $1.04M
NOI $62,342 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
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
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 generous room sizes, off-street parking, a garage, and additional enclosed porch space.
Where is this duplex located?
The property is located at 52 Bancroft St Gardner, MA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two‑family duplex with two apartments, each offering two bedrooms; Large living rooms and oversized kitchens in both apartments; Enclosed porches provide additional space
