Leominster Two-Family Cape
For Sale
$550,000
16 Central Ct, Leominster, MA 01453
Two-family cape on dead-end street, ideal for investors.
Property Size2,070 SF
Price / SF$265.70
Days on Market193
Property Features for 16 Central Ct
General Information
Standard status
Active
Size
2,070 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
BB
Amenities
Ductless
Baseboard, Oil, Individual, Unit Control
Washer Hookup, Dryer Hookup, Washer & Dryer Hookup
Wood, Tile, Hardwood
Range, Disposal, Refrigerator
Ceiling Fan(s), Bathroom with Shower Stall, Bathroom With Tub, Bathroom With Tub & Shower, Smart Thermostat, Living Room, Kitchen, Dining Room
No
Shingle
Rain Gutters
Public Transportation, Shopping, Sidewalks
2
Building Details
Building Size
2,070 SF
Year Built
1940
Stories
2
Listing Agency:
RE/MAX Innovative Properties
Listed By:
John Martein · License #68829
(603) 305-8422
Source:
Reishomesearch
Added: Apr 20
Changed: Oct 25
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$27,982
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$559,640
$559.6K
Cap Rate 7%
$399,743
$399.7K
Cap Rate 9%
$310,911
$310.9K
Market Conditions
NOI Build-Up for 2,070 SF
Gross rent
$41.0K $19.80/SF
− Vacancy
−$1.0K −$0.49/SF
EGI
$40.0K $19.31/SF
− OpEx
−$12.0K −$5.79/SF
NOI
$28.0K $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%
$559,640
Cap Rate 7%
$399,743
Cap Rate 9%
$310,911
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 authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 01453, MA
43,752
Population
18,895
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
26.4 sq mi
ZIP Area
1,657
Density / Sq Mi
$82,098
Median Household Income
$52,247
Median Earnings
$1,282
Median Rent
$345,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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.
