Two-Family Home with
For Sale
$450,000
Pending
15 Central St, Ashburnham, MA 01430
Two-family home in Ashburnham with barn and recent updates.
Property Size2,080 SF
Days on Market97
Property Features for 15 Central St
General Information
Standard status
Pending
Size
2,080 SF
Property subtype
2 Family - 2 Units Up/Down
Building Details
Year Built
1878
Listing Agency:
Keller Williams Realty North Central
(978) 660-9912
Listed By:
Michelle Haggstrom · License #454502214
(978) 660-9912
Source:
Lockandkeyre
Added: May 26
Changed: Aug 25
Last Checked: Aug 30 at 6:10PM
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 home is located in Ashburnham. It offers spacious units suitable for owner-occupancy or investment. A large attached barn area provides storage or workshop potential, complemented by a one-car garage and a generous yard. Recent improvements include siding, windows, doors, metal trim, fascia, a hot water heater, and electrical updates. The property also features an unfinished third floor. The property is conveniently located near the town center, local amenities, and Cushing Academy. Nearby outdoor recreation opportunities include Mount Watatic, the rail trail, hiking, kayaking, and biking. The property size is 2080 square feet.
Key Highlights
- Two‑family home ideal for owner‑occupancy or investment.
- Large attached barn offers significant storage or workshop space.
- Recent updates include siding, windows, doors, and electrical.
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
$28,117
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
6.25%
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%
$562,340
$562.3K
Cap Rate 7%
$401,671
$401.7K
Cap Rate 9%
$312,411
$312.4K
Market Conditions
NOI Build-Up for 2,080 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
$41.2K $19.80/SF
− Vacancy
−$1.0K −$0.49/SF
EGI
$40.2K $19.31/SF
− OpEx
−$12.1K −$5.79/SF
NOI
$28.1K $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%
$562,340
Cap Rate 7%
$401,671
Cap Rate 9%
$312,411
Alternative Uses
Best Use
Multifamily LT 5
$401.7K
$351.5K – $468.6K
NOI $28,117 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$349.6K
$305.9K – $407.8K
NOI $24,469 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$710.3K
$621.5K – $828.7K
NOI $49,720 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Explore this area
Business Placement
Demographics for 01430, MA
6,303
Population
2,892
Households
2.2
Avg Household Size
43
Median Age
41%
College-Educated
95%
High-School Grad
36.7 sq mi
ZIP Area
172
Density / Sq Mi
$115,146
Median Household Income
$54,864
Median Earnings
$369,700
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 home in Ashburnham with barn and recent updates.
Where is this duplex located?
The property is located at 15 Central St Ashburnham, MA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑family home ideal for owner‑occupancy or investment.; Large attached barn offers significant storage or workshop space.; Recent updates include siding, windows, doors, and electrical.
