Two-Family Home With
New
For Sale
$399,000
471 High St, Clinton, MA 01510
1910 duplex with separate utilities, individual heating systems, and a partially fenced lot in an R1 district.
Property Size2,270 SF
Days on Market5
Property Features for 471 High St
General Information
Standard status
Active
Size
2,270 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
R1
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,658
Building Details
Building Size
2,270 SF
Year Built
1910
Stories
3
Units
2
Listing Agency:
Janice Mitchell R.E., Inc
(508) 797-7565
Listed By:
Beth Donaghy
(508) 797-7565
Source:
Housatonicrealestate
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 1:31PM
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 Janice Mitchell R.E., Inc
Investment Insights
Based on property information with market context.
Built in 1910, this two-family residence includes a first-floor apartment with two bedrooms and one full bathroom, plus an upper-level apartment with two to three bedrooms and one and a half bathrooms. The property is suited to renovation and includes hardwood flooring in the lower unit.
Each apartment has separate utilities, its own furnace, and a dedicated oil tank. A substantial two-story barn provides additional storage space or room for a future income-producing use. The lot is partially fenced, and the property information indicates sufficient space for an ADU. Located at 471 High St in Clinton, Massachusetts, the property is zoned R1.
Each apartment has separate utilities, its own furnace, and a dedicated oil tank. A substantial two-story barn provides additional storage space or room for a future income-producing use. The lot is partially fenced, and the property information indicates sufficient space for an ADU. Located at 471 High St in Clinton, Massachusetts, the property is zoned R1.
Key Highlights
- Two‑family property built in 1910
- First‑floor unit: 2 bedrooms and 1 full bath
- Second‑floor unit: 2–3 bedrooms and 1.5 baths
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
$30,685
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
7.69%
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%
$613,700
$613.7K
Cap Rate 7%
$438,357
$438.4K
Cap Rate 9%
$340,944
$340.9K
Market Conditions
NOI Build-Up for 2,270 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
$44.9K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$43.8K $19.31/SF
− OpEx
−$13.2K −$5.79/SF
NOI
$30.7K $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%
$613,700
Cap Rate 7%
$438,357
Cap Rate 9%
$340,944
Alternative Uses
Best Use
Multifamily LT 5
$438.4K
$383.6K – $511.4K
NOI $30,685 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$381.5K
$333.8K – $445.1K
NOI $26,704 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$775.2K
$678.3K – $904.4K
NOI $54,262 @ 7.0% cap · market cap 13.60%
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
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 01510, MA
15,428
Population
7,017
Households
2.2
Avg Household Size
39
Median Age
35%
College-Educated
91%
High-School Grad
5.7 sq mi
ZIP Area
2,707
Density / Sq Mi
$93,849
Median Household Income
$49,815
Median Earnings
$1,353
Median Rent
$348,000
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 - 1910 duplex with separate utilities, individual heating systems, and a partially fenced lot in an R1 district.
Where is this duplex located?
The property is located at 471 High St Clinton, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑family property built in 1910; First‑floor unit: 2 bedrooms and 1 full bath; Second‑floor unit: 2–3 bedrooms and 1.5 baths
