Listing Agency: Better Living Real Estate, LLC Show Phone

Listed By: Michael Lynch Show Phone

Source: Exprealty

Added: Sep 28 Changed: Oct 5 Last Checked: Oct 4 at 3:48PM

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Investment Insights

Based on property information with market context.

This 1,748-square-foot duplex contains two units, each with a month-to-month rental agreement. Updates completed within the past three years include appliances, kitchen countertops and backsplash, kitchen and bathroom flooring, and the first-floor furnace. The property is served by public water and sewer.

Set on a half-acre lot, the property includes fruit trees, gardens, a pergola, a firepit, and a chicken coop, with views of Eagle Lake. WRTA bus routes, local shopping, Wachusett Regional High School, and the Mass Central Rail Trail are nearby, and I-190 is accessible from the area.

Key Highlights

• Two units with month‑to‑month rental agreements
• 1,748 square feet on a half‑acre lot
• Updates within the past 3 years include appliances, countertops, backsplash, kitchen and bath flooring, and first‑floor furnace

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,629

Cap Rate

4.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$472,580 $472.6K

Cap Rate 7%

$337,557 $337.6K

Cap Rate 9%

$262,544 $262.5K

Market Conditions

NOI Build-Up for 1,748 SF

Gross rent

$34.6K $19.80/SF

− Vacancy

−$855 −$0.49/SF

EGI

$33.8K $19.31/SF

− OpEx

−$10.1K −$5.79/SF

NOI

$23.6K $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 Rate 5%

$472,580

Cap Rate 7%

$337,557

Cap Rate 9%

$262,544

Alternative Uses

Best Use

Multifamily LT 5

$337.6K

$295.4K – $393.8K (±1% cap)

NOI $23,629 @ 7.0% cap · market cap 4.11%

Second Best

Apartment 5plus

$293.8K

$257.0K – $342.7K (±1% cap)

NOI $20,563 @ 7.0% cap · market cap 3.58%

Theoretical Best

Office A

$596.9K

$522.3K – $696.4K (±1% cap)

NOI $41,784 @ 7.0% cap · market cap 7.27%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Dental Office Building Supply Auto Parts Store Auto Repair Shop Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

392

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two month-to-month rental agreements and recent updates offer flexibility for continued rental or owner occupancy.

Where is this duplex located?

The property is located at 1576 Main St Jefferson, MA.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Two units with month‑to‑month rental agreements; 1,748 square feet on a half‑acre lot; Updates within the past 3 years include appliances, countertops, backsplash, kitchen and bath flooring, and first‑floor furnace