Leominster Two-Family Cape
16 Central Ct Leominster, MA 01453
For Sale
$550,000
Two-family cape on dead-end street, ideal for investors.
Property Size2,070 SF
Price / SF$265.70
Days on Market99
Property Features for 16 Central Ct
General Information
- Standard status
- Active
- Size
- 2,070 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1940
Listing Agency:
RE/MAX Innovative Properties
Listed By:
John Martein
Source:
Reishomesearch
Added: Apr 20
Changed: Jul 10
Last Checked: Jul 17 at 2:13PM
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 RE/MAX Innovative Properties
Investment Insights
Based on property information with market context.
This two-family cape, situated on a dead-end street, presents an excellent investment opportunity for both new and experienced investors. The bright and airy first-floor unit features refinished hardwood floors and tiled kitchen. It includes a large primary bedroom, two smaller bedrooms, and a bonus play/recreation area in the basement with a renovated 3/4 bath. Heat and hot water for the first floor are provided by a 7-year-old Buderus oil-fired boiler. The second-floor unit has refinished hardwood floors and a heat pump heating/cooling system with Hyper Heat by Mitsubishi, offering individual room control, along with forced hot water backup. Verizon FiOS and Xfinity services are available on the street. The property was fully insulated by MassSaves in 2018. The property is located minutes from Route 2, with major bus routes accessible at the end of the street. The small yard features mature dogwood, magnolia trees, climbing roses, azaleas, hostas, lilacs, and lily of the valley. This property, proudly family-owned for several generations, is now available.
Key Highlights
- Excellent investment opportunity: Two‑family cape located on a quiet dead‑end street.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.0k | $19.80 |
| − Vacancy | −$1.0k | −$0.49 |
| EGI | $40.0k | $19.31 |
| − OpEx | −$12.0k | −$5.79 |
| NOI | $28.0k | $13.52 |
2,070 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$399.7K
$349.8K – $466.4K
NOI $27,982 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$347.9K
$304.4K – $405.9K
NOI $24,351 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$706.9K
$618.5K – $824.7K
NOI $49,481 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-family cape on dead-end street, ideal for investors.
Where is this duplex located?
The property is located at 16 Central Ct Leominster, MA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Excellent investment opportunity: Two‑family cape located on a quiet dead‑end street.
