Vacant Duplex with Detached
For Sale
$699,900
16 California Ct, Clinton, MA 01510
Separate utilities and finished living areas support flexible occupancy for a multigenerational household or new tenants.
Property Size3,743 SF
Price / SF$186.99
Days on Market10
Property Features for 16 California Ct
General Information
Standard status
Active
Size
3,743 SF
Total Parking Spaces
2
Property subtype
Investment
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,445
Amenities
enclosed porches/sunrooms
hardwood flooring
woodwork
finished attic
luxury vinyl flooring
view of Nashua River
Building Details
Building Size
3,743 SF
Year Built
1900
Stories
3
Units
3
Listing Agency:
(978) 660-9955
Listed By:
Nancy Moran
(978) 660-9955
Source:
Elliman
Added: Aug 2
Changed: Aug 11
Last Checked: Aug 11 at 9:17AM
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 Nancy Moran
Investment Insights
Based on property information with market context.
This two-unit property provides 3,743 square feet of living space, with both apartments currently vacant for immediate tenant placement or multigenerational use. The building retains original woodwork, French doors, hardwood flooring, and enclosed porches or sunrooms. A walk-out basement apartment has been renovated with luxury vinyl flooring and a new bathroom, while the second-floor apartment includes a finished walk-up attic with potential for two additional bedrooms that are not included in the stated living area.
Major updates include a roof installed 2 years ago, vinyl siding, replaced windows, and updates to most of the electrical system. Utilities are separately metered, and a detached 2-car garage provides additional on-site functionality. The property overlooks the Nashua River and is within walking distance of Central Park, Wachusett Damn, the Russian Icon Museum, downtown restaurants, and stores. Access to Rts. 62, 110, 495, 117, and 2 supports regional commuting.
Major updates include a roof installed 2 years ago, vinyl siding, replaced windows, and updates to most of the electrical system. Utilities are separately metered, and a detached 2-car garage provides additional on-site functionality. The property overlooks the Nashua River and is within walking distance of Central Park, Wachusett Damn, the Russian Icon Museum, downtown restaurants, and stores. Access to Rts. 62, 110, 495, 117, and 2 supports regional commuting.
Key Highlights
- 3,743 square feet of living space across two vacant apartments
- Walk‑out basement apartment renovated with luxury vinyl flooring and a new bath
- Finished walk‑up attic could add 2 bedrooms, excluded from the stated living area
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
$50,597
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
7.23%
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%
$1,011,940
$1.0M
Cap Rate 7%
$722,814
$722.8K
Cap Rate 9%
$562,189
$562.2K
Market Conditions
NOI Build-Up for 3,743 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
$74.1K $19.80/SF
− Vacancy
−$1.8K −$0.49/SF
EGI
$72.3K $19.31/SF
− OpEx
−$21.7K −$5.79/SF
NOI
$50.6K $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 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%
$1,011,940
Cap Rate 7%
$722,814
Cap Rate 9%
$562,189
Alternative Uses
Best Use
Multifamily LT 5
$722.8K
$632.5K – $843.3K
NOI $50,597 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$629.0K
$550.4K – $733.9K
NOI $44,033 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,473 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
423
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
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Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities and finished living areas support flexible occupancy for a multigenerational household or new tenants.
Where is this duplex located?
The property is located at 16 California Ct Clinton, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 3,743 square feet of living space across two vacant apartments; Walk‑out basement apartment renovated with luxury vinyl flooring and a new bath; Finished walk‑up attic could add 2 bedrooms, excluded from the stated living area
